Another way to show the breakdown of Marblehead Single Family sales in 2012

Here’s another way to look at SFH sales in 2012:

First, by percentage. Note that the % of sales above $750k went up from 2011 to 2012, but that below $750k there was a marked shift from the $500-749k range to below $499k. (more…)

Big Papi strikes Marblehead housing market again

My 2009 mid-year review published in the Marblehead Reporter described the phenomenon that the local real estate market was like David Ortiz’s season: starting so poorly that even with great numbers later in the season the year’s median price would still be quite low.
Well 2012 was much like 2009, at least for the local real estate market (Big Papi himself, courtesy of a new diet and/or because he was entering a contract year, hit 318). (more…)

2013 starts with very low housing inventory

After a stronger sales year in 2012 on the North Shore – sales were up 18% for SFHs and 23% for condos -2013 starts with very low levels of inventory, echoing a trend being seen across the country.

Nationally, the latest figures for November show supply at 4.5 months of average sales.

Locally, the market appears even tighter, with just 3 months of supply of SFHs and 3.7 months for condos at the beginning of the year.
2012_Year_End_Stats_North_Shore_SFH
2012_Year_End_Stats_North_Shore_Condos

(more…)

North Shore Single Family Sales Up 18% in 2012

Sales of SFHS in the 17 cities and towns on the North Shore jumped 18% in 2012, reaching their highest level since 2005. All but Swampscott showed an increase over 2011. While Lynn remained the largest city for sales, its share of the overall North Shore market dropped from 23% in 2005 to 16% in 2012.
Sales remain 17% below peak levels of 2004, with Lynn, Ipswich, Georgetown and Swampscott all showing declines of more than 30%. At the other end, Lynnfield had a 26% increase, and Manchester,Peabody and Topsfield also showed gains. (more…)

Marblehead SFH and condo sales 2012

SFH sales in MHD in 2012 reached 229, the highest level since 2004, which was an exceptional year.
MHD_SFH_Sales_Moving_Average

Condo sales remain well below the levels of earlier in the century for the reasons outlined in my December 8 post:
Condo_Sales_Moving_Ave

Twenty Questions with Marblehead’s Assessor

The FY2013 tax rate has been set at $10.85, up from $10.52 in FY2012. The median single family assessment declined 2.4% to $476,000, and the median single family tax bill increased 0.6%, or $31, to $5,165. The commercial rate has once again been set at the same rate as the residential rate.

Marblehead’s 2013 tax rate will be the third lowest of the 17 North Shore cities and towns and also the third lowest of 34 Essex County communities.

Real-estate assessments for Fiscal Year 2013 have just been mailed. Assistant Assessor Mike Tumulty answered questions about the process. (more…)

Property Tax Rates for 2013 in Marblehead and the North Shore

Often lost in the shuffle in the hecticness of the holiday season is the announcement of the new property tax rate, which actually becomes effective from July 1, 2012. What this means is that most of us have been paying less than we owe during the first half of the year, which is why our bills will go up for the second half of the year. (more…)

Condo sales: bumping along the bottom?

Unlike the SFH market, sales of condos remain well below the levels of the early years of this century, as the following table shows:


©Oliver Reports
(more…)

SFH sales on track for best year since 2005

November saw 14 sales of SFHs, taking the YTD total to 211. This makes 2012 already the largest sales year since 2005. The moving average in the chart clearly shows the recovery to more normal sales levels. (more…)

Why it pays to bank locally

Here are three stories about National Grand Bank (NGB):

1.On the Monday that Hurricane Sandy was blowing into town, Harborside Realty had a closing scheduled where the buyer was getting a mortgage from a “big box” bank. Said bank decided not to open that day, but did not feel it was necessary to inform their customers. What to do? (more…)

Single Family Home Prices – are they up or down?

Sales are up and returning to normal levels (see last 2 blogs).
But what about prices?

The median price of SFHs in Marblehead bottomed in the first half of 2009. Since then the median price for each 6 month period has gone up compared with the same period the year before – until 2012. In the first half of this year the median price declined 11%. 11%!!!!

How can this be when almost daily we hear reports that prices have shown year on year increases across the country, while in Massachusetts areas such as Brookline and Weston (quite nice, but where’s the ocean?) have reached all-time highs. (more…)

200th SFH sold today

Sales of Single Family Homes have reached 200 for the year for the first time since 2007. Good news.

Countdown to 200 home sales

Much like the New Year’s Eve  Ball Drop countdown in Times Square (but with a billion or so fewer people watching), the countdown is on to reach 200 SFH sales for the first time since 2007, another sign of a market returning to normal.
Here is a table showing sales for the last 12 years with the date that the 200th sale was recorded (in the years when sales reached that level).

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