2020: The Top End comes Roaring Back
One of the surprise of the last 2-3 years – to me at least – has been that there has not been more activity in the top end of the market, even as activity increased at lower levels. But that changed in 2020.
Let’s look at sales by price point:
The number of sales over $1 million increased 39% from 353 to 489:
The number of sales over $2 million increased to 60 compared with the prior high of 51
Sales over $3 million doubled from 10 in 2019 to 21 in 2021, passing the prior peak of 18 in 2007:
And there was a rebound in sales over $4 million to 12, also passing the prior 2007 peak of 11.
These charts support what one would normally expect in a rising market – an increase in top-end sales. It took a COVID-inspired exodus from cities to achieve it on this occasion.
Mortgage Rates are Rising
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: a Town by Town guide
Conforming Mortgage Loan Limits raised for 2021
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
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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
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, Salem, Beverly, Lynn and Swampscott.”
New Listings mid-week February 24
Another week with few 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 reduced from a year ago, when levels were already low:
And read these recent articles:
Mortgage Rates are Rising
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: a Town by Town guide
Conforming Mortgage Loan Limits raised for 2021
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.OliverReportsFL.com (coming soon)
A Home with its own Concert Hall
While it is frustrating not being able either to attend or to perform in concerts, but the buyer of this house in Raleigh, NC, will have her own concert hall. Not to mention 5 bedrooms, 5 bathrooms, over 6,000 sq.ft. of living space and a lap pool.
Open Houses Valentine’s weekend
Here are this weekend’s Open Houses. Be aware that with such low inventory, many new listings receive offers before the weekend Open Houses.
This list will be updated on Sunday morning (because of the quirks of MLS some of the Sunday Open Houses don’t show up on Saturday.) (more…)
New Listings before Valentine’s Day
Card? Check. Flowers? check. What else: how about a new home?
Click on these links for the New Listings: (more…)
New Listings mid-week February 10
Another storm, another ring for Brady, and another week with few new listings: (more…)
Go PATS (South)
While it might be tempting for New England fans to suggest that this Super Bowl should have an asterisk pointing out that the Patriots were not playing, there is the fact that we shall still get to see TB12 and Gronk (albeit in rather ugly brown uniforms).
NGSC Sports
One of my over-riding beliefs in life is to acknowledge and celebrate excellence. Larry Bird once said (according to my memory, at least) that he could see little pleasure in putting all the best players on one team. To him, taking a good team and making it into a championship team was the height of achievement. Which is what Brady has done in Tampa Bay. And Bird also said he wanted his team and the other team to play their best and let the better team on the day win.
So, as I write from Naples, aka Marblehead South, let’s root today for a great game between two great quarterbacks and may the best team win. Preferably The Patriots South .
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
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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
Open Houses before the Super Bowl (but not before the snow)
Just a few Open Houses again today. (more…)
Lynn house listed at $1.3 million
Until now the highest prices record in MLS for a sale in Lynn was achieved with the 2019 sale of “a beautiful Nantucket colonial that is adjacent to Lynn Woods and Lynnfield conservation land. Although the property is fully fenced, there is a gate to the 2600 acre Lynn Woods reservation for nature lovers.”
The house, which had 4,471 sq.ft. of living space plus a pool house, was listed at $825,000 and sold for $860,000.
But this week a 3,400 sq.ft. house in the Diamond District 32 Baltimore Street was listed at $1,229,900. And three days later the price was increased to $1,299,000.
Lynn continues to be an up and coming area, with that long waterfront, which is already seeing developments as outlined in this Five projects in the works on the Lynnway article in The Daily Item.
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
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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
Mariner project gets the go ahead – finally!
The proposal for an assisted living facility to be built on the old Killam Estate has been winding its way through various public hearings and courthouses for more than four years. On Wednesday, Jan. 20 the appeals court ruled that it found no fault with the Superior Court’s decision to allow the special permit issued by the Zoning Board of Appeals to stand.
Listen to Chris Stevens, editor of the Marblehead Reporter, discuss with Jon Caswell of MHTV the ruling and what happens next:
MHTV discussion on Mariner.
Here is an article in the Marblehead Reporter: Appeals Court upholds special permit for the Mariner.
And here is a link to the The Mariner website.
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
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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
Open Houses weekend February 6/7
Here are this weekend’s Open Houses. Be aware that with such low inventory, many new listings receive offers before the weekend Open Houses.
This list will be updated on Sunday morning (because of the quirks of MLS some of the Sunday Open Houses don’t show up on Saturday.) (more…)
New Listings week ending February 5
Just a dribble of New Listings:
Click on these links for the New Listings:
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:
And read these recent articles:
Marblehead record $7 million sale
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: Town by Town guide
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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
New Listings mid-week February 3
A pending nor’easter was another discouraging factor for New Listings this week:
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 reduced from a year ago, when levels were already low:
And read these recent articles:
Marblehead record $7 million sale
How Marblehead’s 2021 Property Tax Rate is Calculated
Essex County 2021 Residential Property Tax Rates: a Town by Town guide
Conforming Mortgage Loan Limits raised for 2021
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . 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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.OliverReportsFL.com (coming soon)
$25 million price cut in Beverly Hills
According to this American Luxury article, billionaire (and I am old enough to remember when a billion was a lot of money) Steve Wynn has cur the price of his Beverly Hills mansion by $25 million – to “only” $110 million – clearly a bargain.
“The house’s living spaces span over 27,000 sq. ft. across three levels, with eleven bedrooms and at least fifteen baths in all. The interiors recall a high-end hotel, with grey-black trim on white walls, marble and carpeted floors, and backlit tray ceilings appearing throughout.
The home’s spaces include a great room with blue trim, blue pattern carpet, a glamorous chandelier and a marble fireplace surround, a formal dining room in beige tones with a similar fireplace, and a living room in dark red. Amenities include a wine cellar, gym and home theater.
The mansion’s outdoor living areas are a highlight of the design, with upper and lower terrace and balcony space, and a pool and pool house.
The wine cellar’s not too shabby, either.
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
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
Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®
Naples, Bonita Springs and Fort Myers
Andrew.Oliver@DomainRealtySales.com
m. 617.834.8205
www.AndrewOliverRealtor.com
www.OliverReportsFL.com
New Listings on Inauguration Date
New Listings remain at the dribble level in a market with an ever smaller inventory (more…)
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