Lessons from Marblehead Ocean Week
As a way to celebrate World Ocean Day on June 8, Sustainable Marblehead has held Marblehead Ocean week featuring events around town throughout this past week to highlight issues affecting our waters.
Wicked Local File Photo/ Chris Stevens
Topics have included Green Technology and Green Boating; Storm Drains/Stormwater; Beach Conservation; Microplastic Awareness, and Oyster Restoration.
As the week ends residents are invited to:
– Switch from fuel to electric propulsion
– Take the Green Boating Pledge
– Adopt a storm drain
– Join a beach cleanup
– Reduce use of plastics
– Support oyster and habitat restoration
For a full description of each program and more information on Sustainable Marblehead to go https://www.sustainablemarblehead.org/ (more…)
June Housing Inventory: same old same old
Housing inventory for the 34 cities and towns of Essex County in pictures:
Single Family Homes
Condos
Mortgage rates
After moving up for several weeks the 30-year Fixed rate Mortgage dropped blow 3% again. Note how cheap 15-year mortgages are for those who can afford the extra payment.
Comment (more…)
Marblehead Housing Market Q1 2021 Review
The median price of Single Family Homes (SFH) sold in Q1 2021 increased 10.5% to $765,000, well below the $839,900 in the second half of 2020. But Q1 can often be an anomaly because of the small number of sales.
SFH sales were 32 compared with 31 in 2020.
There were just 10 Condo sales in Q1 2021, compared with 9 in Q1 2020. Condo sales occurred between $260,000 and $599,000. 6 of the 2021 sales occurred below list price, 2 at list and 2 above list price.
For a more detailed report on the market in Q1 go to Team Harborside’s website and read: Marblehead Q1 Market Review (more…)
New Listings mid-week March 24
Still a small number of new listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
These tables show that inventory is greatly reduced from a year ago, when levels were already low: (more…)
Buyers are overpaying, but are there signs of a bubble?
As prices continue to soar, Housing Wire asks the question: Are there signs of a bubble?
“The national average of home prices rose 14.4% year-over-year to $336,200 in February – the largest increase since July 2013, according to the latest report from Redfin. As proof of the impact of the country’s low inventory and high cost of building materials, new listings fell 16% – the second-largest decline on record since Redfin’s data began in 2012, only passed by the drop in April 2020.
Mortgage rates have also jumped to north of 3%; at its current pace, the Mortgage Bankers Association is forecasting rates will reach nearly 3.5% by the end of 2021. New home applications are down as well, as builders are still struggling with smaller-than-normal crews and expensive materials that are hard to procure. And even with March well underway, mortgage applications are still in decline.”
Redfin’s chief economist makes the profound comment that : “It seems like the only move-up buyers who are confident enough to list their homes are those who are relocating to a more affordable area where they’ll have an edge on the local competition.”
I can confirm that as I was talking just yesterday to an agent whose client with a $2 million house won’t list it because “she cannot find anything to buy.”
But to come back to the question in this article: are we in a bubble? (more…)
Open Houses on Valentine’s Day
7 of the 9 SFHs for sale under $1 million in Marblehead have Open Houses today – a perfect Valentine’s gift:
Click on these links for details:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open House
Lynn Open Houses
And a look at inventory compared with a year ago:
How Marblehead’s 2021 Property Tax Rate is Calculated
Are mortgage rates about to rise?
Essex County 2021 Property Tax Rates: Town by Town guide
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
[email protected]
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
[email protected]
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, Sale, Beverly, Lynn and Swampscott.”
Marblehead Housing Market 2020 Review
2020 was a year of two halves: in H1 the median SFH price was $678,500, in H2 $839,900, as demand from buyers from Boston and beyond drove up prices.
For a more detailed report, go to Team Harborside’s website: Marblehead 2020 Review (more…)
Marblehead house receives over 30 offers
Perhaps you are hoping that the housing market will slow down in the winter months, or that new inventory will help to meet the demand.
Well, as they say, not so fast.
A house was listed in Marblehead recently for $445,000. A Cape on an 8,600 sf lot overlooking a wooded area.
There were more than 30 offers submitted. Yep, 30. (more…)
Marblehead Median Price Soars in Second Half of 2021
Here is the summary for 2021.
A full report will be published on Team Harborside’s website next week
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
Licensed Sales Agent in Florida
www.OliverReports.com
[email protected]
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
“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.”
Marblehead record $7 million sale
Prior to 2020 there had been just 5 MLS sales over $5 million in the history of Marblehead, and the highest price recorded was a non-MLS sale at $6.7 million in 2008. (more…)
Old North Festival Chorus Virtual 40th Celebration
Marblehead Christmas “Walk” weekend
The first weekend in December sees Marblehead’s Christmas Walk. No surprise, it will be somewhat different this year….
Last night saw a drive-by viewing of the Christmas Tree in National Grand’s parking lot, while those venturing out today will be greeted by heavy rain turning into snow later. Thank you 2020!
At least tomorrow’s weather looks better. (more…)
Does nobody want to leave Marblehead?
Marblehead has a population of around 20,000 and more than 6,250 Single Family Homes (SFH).
In a normal year perhaps 250-300 of these change hands, which is a remarkably low number. Once people move to Marblehead they are very reluctant to leave! And that was true even before COVID-19.
Everybody has heard how low inventory is, but how low is very low?I looked at the inventory of SFHs for sale on this date for the last 20 years. (more…)
Why now is a GREAT time to sell
The election, more COVID restrictions, Thanksgiving less than two weeks ago, Hanukkah starts on December 10 and Christmas is two weeks later.
All these are reasons not to sell right now but wait for the New Year – boy, aren’t we all waiting for and looking forward to the end of 2020!
But I would like to suggest that, in fact, this is a great time to sell. Inventory is remarkably low – read Does nobody want to leave Marblehead? (more…)
Winter Parking ban suspended in Marblehead
“The Board of Selectmen voted on October 28, 2020 to suspend Town of Marblehead Bylaw Article 5 Section 8 known as the current “all night parking ban” and to implement in its place a snow emergency response to snow events on an ‘as needed’ basis for a trial period of one year.
Declared snow emergencies will prohibit on-street parking starting at midnight the day of the anticipated snow storm. On-street parking will be allowed the following morning starting at 7am during a declared snow emergency unless conditions do not allow it. If the duration of any snow emergency is more than a day, on-street parking will be prohibited on each day of the snow emergency from midnight to 7am.
Many factors will be considered before the Town declares a snow emergency including air and road temperatures, weather forecasts and snow accumulation. The Town will declare a snow emergency when snowfall accumulation is forecasted to be 2 inches or over but other factors could contribute to the declaration of a snow emergency even if snow accumulation is expected to be less than 2 inches. The Town will endeavor to provide as much notice as possible to residents when a snow emergency is declared.
Any vehicles that violate these provisions will be subject to the issuance of parking tickets and towing. Parking ticketing and towing will be done in a matter of priority and will be done to all vehicles parked on-street during a snow emergency.
If towed, vehicles will be stored at the transfer station.
Notification of a declared snow emergency during this trial period shall be done through the Town website, CodeRED automated call system, Town-managed social media accounts, MHTV, and any other outlets the Town has available.
This trial period is revocable upon the determination of the Police Chief, Fire Chief, Town Administrator, Department of Public Works, or their designees, that it is negatively impacting public health and safety.”
Read Snow Emergency Fact Sheet for full details.
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.OliverReports.com
[email protected]
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
“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.”
“Some people use stats the way a drunk uses a lamppost: for support rather than for illumination”
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