MA condo supply: is it really only 1.8 months?
The Federal Reserve’s Beige Book report in July contained the following statement: “Massachusetts currently has only 1.8 months’ supply of condominiums available, compared with 6 to 7 months’ supply in a balanced market.”
Really? Wow. As I often point out, statistics are extremely useful if you know the context and can put the numbers into perspective. The above comment, however, does not explain the period being measured. As the months of supply figure is calculated by dividing the number of units currently for sale by sales in a given period, it is necessary to know what the given period is. (more…)
Foreclosure update: down but not out
What we mostly hear about these days are reports such as this Home prices surpass July 2006 peak from the National Association of Realtors.
We don’t hear as much about distressed sales – foreclosures and short sales – so I have looked at the trend since the beginning of 2014 in Essex County and Massachusetts as a whole, and then looked at the pattern since the foreclosure crisis really started in 2009.
The message from these numbers, which relate to Single Family Homes, is that while distressed sales have dropped sharply in the last 2-3 years, they still account for more than 1 in 20 of all sales in both Essex County and Massachusetts overall. (more…)
New Salem power plant:Construction underway
As this Old Salem power plant falls as new one rises Marblehead Reporter article points out, construction is well underway on the new, quick and clean, gas-fired Salem power plant, which will occupy just 24 of the 65 acre site.
Two of the three smokestacks of the old coal plant are already down and the last – and highest at 480 feet – will be coming down shortly. (more…)
Marblehead Greystone Classic Center Entrance Colonial
A rare gem will be coming to the market soon: a classic center entrance 3/4 bedroom Colonial in the much sought after Greystone area of Marblehead. Deck with hot tub and beach rights to Greystone Beach.
Great house, great neighborhood!
If you are interested please contact me and I will act as your buyer’s agent. (more…)
Marblehead beach makes Boston Globe list
Boston.com has published this list of 10 Beaches within an hour of Boston
This is what it says about Devereux Beach:
“Not far from Marblehead’s historic district is family-friendly Devereux Beach, which offers sandy slides and swings for the littlest of beachgoers. When hunger strikes, grab a lobster club sandwich and a frappe at Lime Rickey’s, not far from the surf. Parking costs $5 to $10 per car.” (more…)
Open Houses on July 19
Here are today’s Open Houses: (more…)
New listings in mid-July
Here are this week’s new listings: (more…)
But I thought you only wrote about Marblehead
Last night a friend, who lives in Swampscott, said when I told him I was publishing my Swampscott Mid-Year Housing Review “but I thought you only wrote about Marblehead.”
As I told my friend, I maintain statistics on all 34 Essex County cities and towns. While I publish regularly on Marblehead, Beverly, Salem and Swampscott individually, and Essex County overall, I monitor all towns – and not just in Essex County. I have provided market reports to buyers and sellers from Amesbury to Andover to Revere, as well as for Middlesex County. (more…)
Swampscott Mid-Year Housing Market Review
Inventory in the Single Family Home (SFH) in Swampscott remained well down on last year, while sales were slightly up. The outlook is for an increase, possibly a sharp one, in the median price in the second half of the year.
Median Prices
The median price for the first half of 2015 was $445,000, up 1% from $439,000 in 2014. (more…)
Marblehead Mid-Year Housing Market Review
This article will review prices, sales and supply for the Single Family Home (SFH) market in Marblehead in the first half of 2015.
Median Prices
The median price for the first half of 2015 was $573,000, down 2% from $583,500 in 2014. Note, however, that while there was a drop in Q1, Q2 saw an increase. Read my First Quarter Review for the explanation behind the Q1 drop.
Source: MLS, Oliver Reports
Staging: don’t copy The Greenbrier
While I celebrated my 50th birthday at The Greenbrier, I fear that staging your house in Marblehead like these areas at the great resort would limit the number of buyers: (more…)
“Buyers are coming back in force”
That quote comes from Lawrence Yun, chief economist at the National Association of Realtors (NAR), following publication of the NAR’s Economic and Forecast Update.
Highlights of the report include:
– Existing home sales in May were the highest since 2009, when there was a homebuyer tax credit
– Pending home sales hit a 9 year high
– New home sales hit a 7 year high
– Housing permits for new homes hit an 8 year high
– and
Who is John Kerry’s new neighbor?
A couple of weeks ago I posted John Kerry or a 6 car heated garage? comparing two nearby Beacon Hill properties: one had a 6 car heated indoor motor court, the other no garage but John Kerry as a neighbor.
Which would attract a buyer first?
Well the verdict is in and the winner is….John Kerry.
“Who did you say is my new neighbor?”
Well we know the Russians have been buying up real estate in major cities, but I just can’t imagine Vl-d-m-r P-t-n hoping to become best buds while strolling round the square. (more…)
Salem condo supply jumps
Salem is a hot city with lots of good things happening there, especially for young people who are buying condos. So far this year the median condo price has increased by more than 10%. This trend has naturally attracted developers and others resulting in a sharp increase in the supply of condos for sale in the last couple or months, as shown in this chart (1 – Jan 1, 2 = Feb 1, etc, 7 = Jun 27): (more…)
Swampscott’s shrinking Housing Inventory
Swampscott’s housing inventory has actually declined since the beginning of May, a period that has seen a 30% increase in inventory of Single Family Homes (SFH) in Essex County overall. (more…)
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