Marblehead Oceanfront Open House Sunday 12-2
This spectacular oceanfront compound offers an elegantly restored, south facing, sun-drenched 6,265 sq. ft. main home with 15 spacious rooms including 7 bedrooms and 4 1/2 baths. Uniquely protected from coastal storms.
Plus Marblehead’s most stunningly located carriage house offers an additional 2,404 sq. ft., perfect for the extended family, nursing home alternative – or weekend retreat. Access to a private beach. Wonderful neighborhood and potential for a private mooring. (more…)
Signs of life at higher end of market
I have commented before that I have been surprised at the low level of activity at the higher end here on the North Shore compared with Boston and its immediate neighbors. I have pondered – hoped? – that maybe it was a timing issue.
Well there does seem to be some activity developing. Since the start of the third quarter (July 1), there have been sales in the $2-3 million range in Andover, Manchester and Swampscott; in the $3-4 million range in Manchester; and $4-5 million in Hamilton and Manchester. (more…)
Outlook for mortgage rates
I have commented before that HSH Associates (HSH.com) publishes very good commentary on the mortgage market.
In this week’s article (which will be on their website on Monday) they point out:
(more…)
Marblehead: median list price $995,000; median sale price $532,000
The median list price of Single Family Homes (SFHs) in Marblehead currently available for sale is $995,000, whereas the median price of SFHs sold in the first 8 months of 2013 is just $532,000. Why the difference?
First the inventory numbers. It is very clear just how short of inventory the market is under $750,000 and under $500,000 in particular. These numbers were as of September 1st. This shortened week saw 4 more houses under $500,000 receive an accepted offer (including one that was listed this week), so there are now just 6 SFHs available in Marblehead under $500,000. And 106 have sold in the last year. Wow! (more…)
Condo market tightens
Overall supply for the North Shore condo market tightened as of September 1st to just 3.4 months of supply, down from 4.7 months earlier in the summer. As with SFHs, supply is tightest at lower price levels. (more…)
Massachusetts housing inventory: very little available at lower prices
August generally does not see a lot of new properties coming to the market, while anxious buyers are inclined to snap up what is available before the start of the school year. Thus, supply should tighten, at least in theory. And as the last table in this post shows, the inventory of SFHs under $500k for all 17 North Shore cities and towns I follow, represented just 2.1 months of supply at the beginning of September, whereas 6 months is generally regarded as being a market in equilibrium.
(more…)
Marblehead Oceanfront Open House Sunday
What better way to spend Sunday than to drive to Marblehead, have a leisurely brunch at one of our fine restaurants, and then visit this spectacularly located property which contains a main house and a fully restored carriage house sitting directly on the ocean’s edge, while being uniquely protected from storms. (more…)
Massachusetts home sales reach highest level since 2004
According to the Massachusetts Association of Realtors (MAR) July Report sales of Single Family Homes (SFHs) in July rose 20% from a year ago, while the median price at $350,000 increased by 8%. The number of sales was the highest in one month since July 2004. (more…)
Million dollar homes in Massachusetts
A Million Dollars still conjures up an image of luxury, and I suspect many of us are attracted to headlines which include the magic number. This article will look at Million Dollar homes for the counties of Massachusetts, with a breakdown by town for Essex County.
Note that all numbers are from the MLS, which does not include Nantucket or Martha’s Vineyard, and may exclude some sales in other parts of the State which have their own reporting system. With that caveat, let’s get started.
First, sales for the Last 12 Months (LTM).
Here’s a pie chart:
Source: MLS, Oliver Reports
(more…)
What was the price of a Single Family Home in Marblehead in July?
It’s August, known in some quarters as the silly season, when hard news is short. So here’s my silly season contribution.
Quiz: the price of a Single Family Home in Marblehead in July 2013 was:
(a) $590,000
(b) $635,250
(c) $697,837
(d) $712,815
(e) all of the above
The answer is (more…)
North Shore housing inventory by price: still famine or feast
While the low level of overall supply suggests we are still in a sellers’ market, the position varies dramatically by price.
Look at this table for SFHs:
Source: MLS, Oliver Reports
I think this demonstrates the buying frenzy that has occurred in recent months at the lower end. Naturally, there are fewer buyers as prices increase, but the low level of sales at the top end continues to baffle me. (more…)
North Shore housing inventory by town: supply remains tight overall
After increasing from 3 months of supply in April to 4 months in July, the inventory of Single Family Homes (SFHs) tightened very slightly to 3.9 months at the beginning of August.
Meanwhile, the supply of condos continued to decrease. After going from 3.8 months in April to 4.7 months in June, as the summer selling season got into its stride, supply has dropped for two months in a row down to the current 3.9 months.
With 6 months of supply generally regarded as representing a market in equilibrium between buyers and sellers, it is clear that overall the North Shore remains a sellers’ market. But there are wide differences from town to town and, as we shall see in my next post, by price level. (more…)
MASS home prices reach highest level since 2007
This week the Massachusetts Association of Realtors released its June report Massachusetts median prices back to 2007 levels.
That sounds good and is certainly good news for homeowners, but let’s dig a little deeper into the numbers. This chart shows median prices for Single Family Homes (SFH) in MASS on a quarterly basis since 2004. As always, my numbers exclude foreclosures and short sales. (more…)
Oceanfront: price reduction, open house and new 10ft window
11 Crown Way, Marblehead (click here for details) has an open House Sunday 12:00 – 2:00.
New price and spectacular new 10 ft window in butler’s pantry.
![IMG_1364[1]](https://oliverreportsma.com/wp-content/uploads/2013/07/IMG_13641-e1374335388312.jpg)
Are higher mortgage rates slowing the housing recovery?
July often sees a change in market tone. Those who have already sold their home know they need to find somewhere quickly, increasing their urgency. New buyers, however, are now quite likely to decide to wait until the Fall as the chances of being able to move in by Labor Day are diminishing. And sellers have to decide if they want to be on the market in the “dog days” of August, or wait until after Labor Day.
And then this year, of course, there has been the added factor of the jump in mortgage rates. To some extent it would appear that the Federal Reserve was surprised by the big jump in rates after what they thought was a simple statement of their intent to reduce their purchases of Treasuries and mortgage-backed securities as the economy improves. (more…)
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