Essex County Town by Town Guide: 2022 Median Prices and Sales; 2023 Tax Rates
Here is a town-by-town guide to 2022 Median Prices and Sales, together with 2023 property tax rates.
Read February Inventory as low as this weekend’s temperature
And these recent articles:
Economic and mortgage commentary
How Marblehead’s 2023 Property Tax Rate is Calculated
Essex County 2023 Property Tax Rates: Town by Town guide
Lies, Damned Lies and Inflation “Statistics”* (more…)
List of currently available properties
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: (more…)
How did North Shore Home Prices Perform in the last Decade?
The decade from 2010-2019 saw a remarkably consistent record of Single Family Home Price increases throughout the North Shore and Essex County.
For the purposes of comparison I have converted all prices to a base of 100 for 2009.
The first chart shows the performance of Marblehead, Swampscott, Salem, Beverly and Essex County as a whole. If you look at the numbers for 2019 you can see how consistent the performance was, with a 50% increase over the decade.
New Nahant Magazine
Click Nahant to read a digital copy of this new magazine covering Nahant.
Check out the Q&A with Dick and Matt on page 3.
Market Analyst | Team Harborside | teamharborside.com
Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Housing Inventory by Price in North Shore towns
While conventional wisdom holds that a market is in equilibrium between buyers and sellers when the current inventory represents 6 months of sales, that overall number masks major differences which occur at different price points.
The tables below show the position by price for Essex County overall and for Marblehead, Swampscott, Salem, Beverly and Lynn.
The table below breaks down supply at different price levels for Essex County overall.This shows that the dynamic between sellers and buyers changes as prices go above $750,000.
Huge jump in Mortgage Loan Limits
Home buyers in Essex County and Suffolk County received a major boost this week with the announcement that the limit for conforming mortgages was being increased by 18% from $523,250 to $598,000.
For a buyer putting down 20% the price of a home that can be financed conventionally – meaning that it can be sold to Fannie Mae or Freddie Mac – jumps by almost $100,000, from $654,063 to $747,500.
This table shows the trend in the last few years: (more…)
Time to think outside Marblehead Neck
You would like to buy a house on the water, but you have noticed the amount of traffic on the Neck and are concerned with exposure to storms.
So what to do?
The answer is: think outside the Neck.
Read Marblehead’s Unknown Oceanfromt properties and you may be surprised to learn that between Preston Beach and Beach Street there are 32 homes (and likely a few more when the FY2016 assessments are announced in December as this area is appreciating) with an Assessed Value over $2 million.
Two of these properties are currently for sale and details can be seen by clicking on 11 Crown Way and 2-4 Coolidge Road.
Crown Way has an Open House today 1-3 and both house will be open next Sunday (if not sold before then).
The week’s new listings
This week saw a similar number of new listings to last week: (more…)