2020: The Top End comes Roaring Back

One of the surprise of the last 2-3 years – to me at least – has been that there has not been more activity in the top end of the market, even as activity increased at lower levels. But that changed in 2020.
Let’s look at sales by price point:

The number of sales over $1 million increased 39% from 353 to 489:

Million dollar sales

The number of sales over $2 million increased to 60 compared with the prior high of 51

Million dollar sales

 

Sales over $3 million doubled from 10 in 2019 to 21 in 2021, passing the prior peak of 18 in 2007:

Million dollar sales

And there was a rebound in sales over $4 million to 12, also passing the prior 2007 peak of 11.

 

Million dollar sales

These charts support what one would normally expect in a rising market – an increase in top-end sales. It took a COVID-inspired exodus from cities to achieve it on this occasion.

Mortgage Rates are Rising
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: a Town by Town guide
Conforming Mortgage Loan Limits raised for 2021

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.MarbleheadSouth.com

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReports.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”

Pierre Cardin’s $400M ‘Bubble Palace’ in France Up for Sale

“House-hunting in the Cannes, France, area and find modern linearity staid, or downright stolid? Then you may want to take a tour of Pierre Cardin’s 1970s fantasy of a mansion: Palais Bulles, the ‘Bubble Palace’ that the late fashion czar owned for the past three decades. The home is looking for a new owner, and first hit the market in 2017 for $420 million.” The current price is available on request, according to American Luxury article which includes more photos.

Pierre Cardin

“Each of the home’s ten bedrooms received a unique treatment at the hands of a different prominent designer of the era. Lines are graceful, but on the whole surprisingly less extravagant than one might expect. It is large, though; interiors measure in at a whisker less than 13,000 sq. ft. and the property’s living areas are distributed over six levels on a promontory setting overlooking Cannes and Nice.

To enhance its Mediterranean setting, there are many indoor/outdoor living spaces, as well as a series of swimming pools and water features amid the tropical and semi tropical plantings and lawns. There are over two acres of terraces and gardens to augment this extraordinary house.”

Well, yes, I suppose one would expect an “extraordinary” house for an “extraordinary” price.

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReportsMA.com
Andrew.Oliver@SothebysRealty.com

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.MarbleheadSouth.com