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
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
“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
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
“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
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
“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
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
“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
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
“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
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
Swampscott Condos For Sale
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