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”
Gorilla invades Marblehead
Tom Saltsman, the Marblehead architect, is famous for creating larger-than-life Halloween installations at his home, 32 Pleasant Street. This year his creation is Kong, a 22 ft tall gorilla. The big ape is crouching in front of Saltsman’s garage. When he awakes this weekend, Kong will make movements and noises. To maintain suspense, Saltsman didn’t want to reveal any more details.
Open Houses Sunday October 25
As always, rather more Open Houses are scheduled for today than were shown when the list was published yesterday: (more…)
Marblehead Q3 2020 Housing Market Summary
[Click here to download a copy of this report]
In Q3, the first full quarter of sales post the COVID-19 slowdown in March and April, the median price of the Single Family Homes (SFH) sold jumped to $846,000, more than $100,000 higher than any prior quarter. The median price in the first 9 months of the year increased 5.3% to a new record of $750,000.
Sales were steady as was the median Days to Offer (DTO) at 12. (more…)
Latest list of properties for sale
New listings are seeing tremendous competition, and inventory is way down compared with a year ago. Buyers need to look at the list of all available properties as sometimes properties get overlooked for no obvious reason. Here is the summary of current inventory:
Are you thinking of selling in Marblehead?
With prices at record levels (the median price of the SFHs sold in Q3 was a staggering $846,000) and inventory at record lows, now is a great time to sell.
Here is the inventory by price compared with a year ago:
With buyers still actively seeking homes, the shortage of inventory makes this an ideal time to sell.
Team Harborside is the leading North Shore group. Please contact me to arrange a meeting with our team to discuss the options for selling your property.
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.”
So, how much have house prices gone up?
Anecdotally, we have all heard about how prices outside Boston are booming, as people move out of the city, but how much have prices actually gone up?
Because small numbers can – and do – produce misleading statistics, I look for large numbers, as in my quarterly reports. I have, however, calculated the monthly median prices for Essex County SFHs and for Boston condos. After these charts, I will also give an early indication of what the third quarter will look like in Marblehead and Swampscott.
Essex County SFH
This chart shows the monthly median prices for the last 4 years. The blue top line is 2020. After being around $500,000 for the first few months, the median price moved to $545,000 in July and to $575,000 in August. These are, of course, monthly numbers which can fluctuate, but it is also worth noting that the numbers for August refer to sales contracted in June for the most part.
This table shows the quarterly progression. Q2 and Q3 are normally the highest quarters for the year.
Boston Condos
This chart is less clear, but the table below shows that median prices are little changed from 2019 YTD and have been declining quarter by quarter in 2020.
Marblehead and Swampscott
After being below $700,000 in Q1 and Q2, the Q3 median SFH price will blow through not $700,000 but $800,000 – and comfortably at that.
In Swampscott, however, the median SFH is likely to be similar to the 2019 level. Some interesting analysis when I write my Q3 reports.
Goodbye Boston, Hello Marblehead
Housing Inventory chronically low while demand is strong
Mortgage rates dip below 3% – where to next?
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.”
Disappearing Marblehead Condo Supply
For most of this year the number of Condos for sale in Marblehead has been in the 15-20 range ( annual sales have averaged around 50 in recent years).
Since the beginning of July, when there were 18 condos available, that number has plummeted to just……
1.
I have just sold a Condo in Marblehead which received an offer before there was time to list in MLS. So, if you have a condo you are thinking of selling, please call me!
Goodbye Boston, Hello Marblehead
Housing Inventory chronically low while demand is strong
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.”
List of Properties Available for sale
New listings are seeing tremendous competition, and inventory is way down compared with a year ago. Buyers need to look at the list of all available properties as sometimes properties get overlooked for no obvious reason. Here is the summary of current inventory:
Click on these links for full details:
Marblehead SFHs For Sale
Marblehead Condos For Sale
Swampscott SFH For Sale
Swampscott Condos For Sale
Salem SFH For Sale
Salem Condos For Sale
Beverly SFHs For Sale
Beverly Condos For Sale
Lynn SFHs For Sale
Lynn Condos For Sale
Inventory chronically low; demand booming
Goodbye Boston, Hello Marblehead
Mortgage rates dip below 3% – where to next?
“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.”
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
Swampscott Condos For Sale
Goodbye Boston, Hello Marblehead
Here are my predictions of what will follow from COVID-19:
- People, especially families with young children, will look to move out of Boston and to towns like Marblehead with great schools, open spaces, history – and ocean
- The demand for open floor plans will give way to the desire for separate rooms. after families get bored of listening to everybody else’s Zoom calls, online classes, etc. etc.
- The perceived negative of Marblehead that commuting into Boston is a challenge (one which residents happily overcome) will diminish as more people work remotely at least some of the time.
- Did I mention the ocean?
Read Mid-Year 2020 Market Reports for in-depth reports on the markets Marblehead, Swampscott, Salem and Beverly, and a Summary of Essex County overall.
And then check out: Latest Inventory of properties for sale
“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.”
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
Marblehead Q1 2020 Market Summary
Single Family Homes (SFH)
The median price of Single Family Homes (SFH) sold in Q1 2020 was $692,500. This compared with $602,500 in Q1 2019 and $730,000 in Q1 2018, a clear indication of the quarterly fluctuations that can occur, especially during the winter months, when the number of sales is small.
The SFH median price increased 48% from its low in 2009 to 2019 and was 23% above its pre-Great Recession peak in 2005.
Condos
There were just 9 condo sales in Q1 2020, but that was more than the 5 in Q1 2019. Condo sales occurred between $280,000 and $1.1 million
COVID-19
Sales are a lagging indicator, reflecting offers that were accepted some 6-8 weeks earlier.A more current indicator is the number of new offers accepted.
Not surprisingly, accepted offers dropped sharply at the end of March and in early April, before recovering, slowly at first, and then more strongly as buyers and sellers adapted to the new way of doing business.
The 30-year Fixed Rate Mortgage dropped from 3.74% at the end of 2019 to 3.5% at the end of March and to 3.25% by the end of April, but the mortgage market was in some disarray, especially in the jumbo and non-conventional market, as a result of the disruption caused by COVID-19.
Inventory
After years of decline, the number of SFH for sale in Essex County on the first of the month compared with a year earlier (YOY) increased from August 2018 until June 2019, and of Condos from June 2018 until August 2019, whereupon the decline resumed.
With the uncertainty caused by the pandemic, the inventory of SFHs in Essex County overall was 35% below the 2019 level on May 1. In Marblehead there were 32 SFHs for sale compared with 50 in 2019.
Andrew Oliver
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
Currently available properties
In the continuing absence of Open Houses, I am replacing the normal Open House post with one showing details of all houses and condos currently available for sale. Different arrangements are being made for viewing so please contact me to see what is possible. Properties are still selling in this environment.
Click on these links for full details of each of the properties: (more…)
Open Houses Sunday February 23
50 degrees and sunny? Wow – a great day to visit these Open Houses: (more…)
What is Marblehead’s most expensive listing ever?
Patch this week featured 102 Harbor Avenue as the most expensive listing currently in Marblehead – which it is.
But is it the most expensive listing ever?
First, a couple of photos of 102 Harbor
Now, let’s roll back the clock to 2009 when this house on the Neck was listed for $10.5 million:
While this house was listed at $10.5 million in 2009, by 2015 the asking price had dropped to $6.6 million – and it did not sell.
But wait, there was one even higher listing. Back in 2003 another house on the Neck was listed for a jaw-dropping $23 million!!! But that listing was cancelled the very next day – and then re-entered at …… $2.3 million.
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
Pre-Revolutionary Marblehead: Open House TODAY
There is an Open House today, 11:30-1:00, for this Pre-Revolutionary Marblehead house. It is a perfect blend of old and new – and even has a double garage.
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
www.TeamHarborside.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
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