Marblehead Mid-Year Housing Market Report
Single Family Homes (SFH)
The median price of Single Family Homes (SFH) sold in the 6 months to June 30, 2022 (H1) increased 8% to $875,000, while sales, reflecting the reduced inventory, dropped sharply to the lowest number this century, just above the numbers of 2008/09.
Condos
There were 19 condo sales in H1 2022, down from 25 in 2021, while the median price increased 4.1% to $505,000. (more…)
July Inventory shows welcome increase
There has been a sharp increase in the number of properties for sale in the last four months, but while this takes inventory of SFHs above the year ago level, it remains below that of 2020:
Single Family Homes
Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:
Marblehead Festival of Arts Champagne Reception TODAY
The Champagne Reception is a wonderful tradition that kicks off the summer Marblehead Festival of Arts. Refreshments are served under a tent, with tastings provided by many fine restaurants and caterers.
Click Champagne reception for more detials.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
m.617.834.8205
www.OliverReportsMA.com
Andrew@TeamHarborside.com
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.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”
Marblehead Town Elections TODAY
Marblehead operates under the open Town Meeting form of government. This is a form of direct democracy which brings together eligible voters to debate and vote policy matters and budgets relating to town government.
Go here for full details, including where to vote. Polls are open from 7 a.m. to 8 p.m.
Recent articles include:
Are we already in a Recession?
Federal Reserve in Fantasyland: Implications for Housing Market
How quickly are houses selling?
Have Home Sales slowed?
Free Property and Mortgage Fraud alert notification for homeowners
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide
Guide to Buying and Selling in Southwest Florida (more…)
Marblehead Facts and Figures Weekly Update
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New Listings week ending May 20
There is a bounce in New Listings this week:
Click on these links for details: (more…)
Open Houses weekend May 14/15
Here are this weekend’s Open Houses (an updated list will be published tomorrow at 8 a.m.):
Click on these links for details: (more…)
Marblehead Neck Oceanfront New Listing
It has been 9 months since the last oceanfront house on Ocean Avenue sold and now comes this Wonderful opportunity to enjoy Marblehead living at its finest.
This spacious and gracious home sits on a bluff with sweeping views directly out over the ocean. Built in 1920, the home retains much of its original charm, period details and architectural elegance, yet offers many recent updates providing for luxurious living for today’s discriminating buyer.
Experience the breathtaking vistas and sounds of the sea with spectacular views from almost every room. The tastefully landscaped grounds feature an acre+ of rolling lawns and beautiful gardens leading to your own private gate allowing direct access to the rocks, ocean and beach.
The home offers plenty of space including 4 bedrooms with en-suite baths including a stunning master with luxurious spa-like bath and amazing views. Located in Marblehead – a unique town that embraces community and sea-side living.
Click here for full details and photos.
Please call me on 617.834.8205 to arrange a private showing.
And read these recent articles:
Why This Housing Market Is Not a Bubble Ready To Pop
Why are Mortgage Rates so high?
The Federal Reserve and Mortgage Rates
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide Guide to Buying and Selling in Southwest Florida
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or ajoliver47@gmail.com.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
m 617.834.8205
www.OliverReportsMA.com
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.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.”
__________________________
Andrew Oliver, M.B.E.,M.B.A.
Real Estate Advisor| Market Analyst | The Feins Group | thefeinsgroup.com
m.617.834.8205
www.OliverReportsFL.com
Andrew.Oliver@Compass.com
Flash First Quarter 2022 Numbers
The shortage of inventory is reflected in these Q1 numbers:
As always, small numbers need to be treated with caution. This chart shows the cyclicality of sales in New England:
Marblehead’s disappearing Inventory
For some time I have been publishing charts showing inventory in recent years, but this one goes back to 2010 on this date.
There are some 6,300 SFHs in Marblehead and currently just 2 of them are available for sale. It is hard to imagine a better time if you need to sell.
And read these recent articles:
Is Real Estate seasonal?
Federal Reserve: “Make me responsible…. but not yet”
Earth to Federal Reserve: What are you waiting for?
February Inventory – Marco? Marco? Where are you?
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide
Guide to Buying and Selling in Southwest Florida
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 .
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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, Sale, Beverly, Lynn and Swampscott.”
Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®
m. 617.834.8205
www.OliverReportsMA.com
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Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
m. 617.834.8205
www.MarbleheadSouth.com
www.OliverReportsFL.com
How Marblehead’s 2022 Property Tax Rate is calculated
The formula for calculating the property tax is actually very simple: take the $ amount of the previous year’s Tax Levy, add 2.5% for Proposition 2 1/2, and also add any New Growth (such as new construction or a condo conversion). This figure is the new tax levy. To this figure is added debt service – the Principal and Interest payable on the town’s debt. – to produce the total Tax Levy.
Here are the numbers for Fiscal Years 2021 and 2022, remembering that FY 2022 runs from July 2021 to June 2022. (more…)
Old North Festival Holiday Concerts THIS WEEKEND
While Covid-19 has again interrupted our traditional Festival Chorus Holiday Concert plans, we press on and adapt!
After last year’s forced absence, the Old North Festival Holiday Concerts return in modified form during this year’s Christmas Walk, on Saturday, December 4th at 8 p.m., and Sunday, December 5th at 7:30 p.m. Maria vanKalken, Minister of Music at Old North Church, celebrates her 33rd season as Director of the Festival Chorus – despite a recent fall and damage to her head and shoulder.
This year’s Concerts will feature the Festival Orchestra, and Soloists: Holly Cameron, soprano; Gabriela Fagen, mezzo-soprano; Kevin Hayden, tenor; Daniel Fridley, bass; and Michael Galvin, bass, in seasonal works for solo voices by J.S. Bach, Purcell, Handel and Mendelssohn, together with the Old North Bell Choir under the leadership of Liz Smith
While the Chorus will have to wait until next year to perform again, we will be able to enjoy the concerts as audience members, and will greatly enjoy singing the carols along with the audience!
The concerts will have a reduced capacity and last 75 minutes with no intermission. Proof of vaccination will be required for admission and properly-fitted masks must be worn at all times in the Church.
Tickets are available at Arnould Gallery and Crosby’s Marketplace; or online at onchurch.org/festivalchorus and, with seating limited, should be purchased in advance. Further information can be obtained by calling 781.608.2782.
The format may be different this year, but all involved – orchestra, soloists and audience – will rejoice in being able to make music together again!
Open Houses weekend November 6/7
Here are the Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days do not show up in both days’ lists but do if you click on the individual properties. I will publish the updated list for Sunday tomorrow at 8 a.m.
Click on these links for details: (more…)
How accurate are Zillow’s Zestimates?
During the pandemic-spurred housing boom, Zillow Offers emerged as a particularly aggressive iBuyer, or instant buyer, of homes in Sun Belt markets, offering homeowners more than the market value of their properties, with no catch. Zillow has now conceded that it has been paying too much for properties, even in a market characterized by soaring home values. Saying it had lost $1 billion on iBuying, Zillow has shut down its Zillow Offers unit.
“We’ve determined the unpredictability in forecasting home prices far exceeds what we anticipated and continuing to scale Zillow Offers would result in too much earnings and balance-sheet volatility,” Chief Executive Rich Barton said.
Zillow used an algorithm to make home price estimates, called the “Zestimate,” and determine what it would pay home sellers.
Are Zestimates accurate?
Zestimates are somewhat like the National Hurricane Center’s projection for a hurricane’s path: both provide a single price or point, but those prices and points are actually the median of a range.
Here’s an example for a house: (more…)
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