New Listings week ending July 9
A few more New Listings after July Fourth:
Click on these links for details: (more…)
Open Houses weekend July 10/11
More Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days so not show up in both days’ lists but do if you click on the individual properties. I will publish Sunday’s tomorrow at 8 a.m.
Click on these links for details: (more…)
$22 million House for sale in Beverly
A $22 million mansion has just hit the market in Beverly, listed by Douglas Elliman Real Estate. Built in the Georgian Revival style, the home boasts 28,000+/- square feet of beautifully appointed living space, with 11 bedrooms and 12 baths and sits on more than three meticulously landscaped, park-like acres.
Click $22 million listing and call to arrange a showing. (more…)
Are mortgage rates heading up or down?
For several years “experts” have been forecasting that mortgage rates were about to rise, but forecasts of an imminent end to low rates are reminiscent of Mark Twain’s alleged comment that reports of his death had been greatly exaggerated.
The 30-year Fixed Rate Mortgage (FRM) reached almost 5% in November 2018, but since then has been in an almost uninterrupted downward trend, with a few short-lived spikes upwards:
Which brings us to the question: is the next move going to be
Inflation (more…)
Marblehead Town Elections Tuesday June 22
The youth and exuberance of Marblehead can be seen in two way:
– the number of young people out and about with strollers (and, of course, dogs)
– the large number of candidates in the town elections this coming Tuesday
The most contested positions are Selectmen (15 candidates for 5 members), Light Commissioner, School, and Recreation and Park.
Here is the sample Marblehead ballot (more…)
New Listings mid-week June 16
Just a smattering of New Listings – again:
Click these links for details: (more…)
Open Houses Sunday June 13
Around half of the available properties – other than in Swampscott – have Open Houses today:
Click on these links for details: (more…)
New Listings week ending June 11
Here are the latest New Listings in Marblehead, Swampscott, Salem, Beverly and Lynn:
Click on these links for details: (more…)
Open Houses weekend June 12/13
Here this weekend’s Open Houses.
This list will be updated on Sunday morning (because of the quirks of MLS many of the Sunday Open Houses don’t show up on Saturday.)
Click on these links for details: (more…)
New Listings week ending May 21
A few more houses are coming on to the market but they are still selling quickly. Here are the latest New Listings :
Click on these links for details: (more…)
Open Houses for Mother’s Day weekend
Most Open Houses this weekend will be held today rather than on Mother’s Day.
This list will be updated on Sunday morning (because of the quirks of MLS many of the Sunday Open Houses don’t show up on Saturday.)
Click on these links for details: (more…)
New Listings on Cinco de Mayo
No Cinco de Mayo celebration for New Listings which remain at a low level:
Click on these links for details: (more…)
May Housing Inventory: massive decline continues
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 has dropped blow 3% again. Note how cheap 15-year mortgages are for those who can afford the extra payment.
(Freddie Mac weekly survey)
Comment (more…)
Will the Housing Market Frenzy Die Down? That Depends on Sellers
The coronavirus pandemic raised the temperature considerably on the nation’s housing market. The past year has been marked by soaring prices, logic-defying offers over asking price, and steep competition as sellers have been hesitant to put their homes up for sale.
But the heart-pumping, bank account–depleting housing market frenzy could die down—at least a little—in the coming months as more sellers list their properties and inventory slowly increases. About 10% of current homeowners plan to put their homes on the market this year—and more than half are more affordably priced, according to an exclusive survey conducted by realtor.com®. An additional 16% expect to list their properties within the next two to three years.
Typically, only about 8% of homeowners put their homes up for sale a year. This is about a 25% anticipated increase, which translates into about 1.5 million more homes. The increase may be due to folks holding off on selling their homes during the worst of the coronavirus pandemic.
“There is a brighter light at the end of the tunnel for many weary buyers,” says Realtor.com Senior Economist George Ratiu.“In a market that right now only has close to half a million listings, a big boost in inventory can mean more choices for buyers and potentially a slowdown in price growth,” says Ratiu. He was quick to add that prices won’t drop, but the double-digit growth may taper off. “It’s signaling a return to normal for the economy and the housing market.”
Read the full article: Housing Market frenzy could cool for this reason (more…)
Naples Housing Market – onwards and upwards
The March 2021 Market Report, released by the Naples Area Board of REALTORS® (NABOR®), which tracks home listings and sales within Collier County (excluding Marco Island), shows that March was the highest performing month in the 13 years NABOR has tracked these metrics.
Sellers are raising prices and multiple offers are still coming in,” said Budge Huskey, CEO, Premier Sotheby’s International Realty. “This is because inventory is limited, and more sellers are realizing now is a good time to place their home on the market and get top value in the current market conditions!”
Broker analysts predict the level of demand experienced in March is sustainable and should be expected to continue for the next few months, or longer. “Season was disrupted this year because many people elected to hold off relocating until they were fully vaccinated,” added Huskey. “Agents also report that many seasonal visitors are staying longer than in previous years, possibly because they can afford to wait in anticipation of more homes becoming available in the luxury market. I believe we’ll continue to see more newcomers from northern states looking for homes in the high end in the coming months. Beyond that, and as we enter the summer season, we might begin to see a second wave of international buyers entering our market as travel restrictions begin to relax.”
Median closed prices in March increased 12.2 percent to $415,000 (the highest median price increase month/month on record since 2008) from $370,000 in March 2020. In March 2021, there were just 1,819 homes in inventory (the lowest it has been since 2014), which was a 73.2 percent decrease from 6,795 homes in inventory in March 2020.
The March report revealed that the Naples area now has only a 1.6 month supply of homes available to buyers
The following charts give a visual summary of market activity: (more…)
Recent Comments