December sales in Marblehead and Swampscott still mostly above List Price
The small number of December sales in Marblehead and Swampscott continued to show strength.
6 of 9 SFH sales in December – and 1 of 3 Condo sales – were over List price.
6 of 9 SFH sales in October were at or over List price, while 1 of the Condo sales was at List and one just below.
While sales continue to be strong – and often quite strongly above list price – it is interesting to note that 8 of the 14 SFHs currently available for sale in Marblehead have had price reductions, while 3 of the 10 in Swampscott have also seen price cuts – or “adjustments” or “improvements” as we like to call them.
Note also that in December, all 4 of the sales where the price had been reduced subsequently took place below the reduced price.
The sample is small, but the implication is clear: over-pricing in this market leads to a lower sale price.
And these recent articles:
Economic and mortgage commentary
Why Mortgage Rates Will Fall
Marblehead 2023 Property Tax Rate
Recession? Yes, no, maybe….
Federal Reserve tries to rewrite history
Has Inflation Peaked?
Are we already in a Recession?
Federal Reserve in Fantasyland: Implications for Housing Market
Time to Consider an Adjustable Rate Mortgage
How Marblehead’s 2022 Property Tax Rate is calculated
Essex County 2022 Property Tax Rates: Town by Town guide
Marblehead Q3 2022 Report: Median Price tops $1 million
Swampscott Q3 2022 Report: Median Price hits $800,000
Salem Q3 2022 Report: Median Single Family price breaks through $600,000
Marblehead house sells for 35% above list price
October Inventory shows modest decline </a)
Is the U.S. Housing Market at a Crossroads?
Summer 2022 Market Review
Essex County Mid-Year Market Summary in 5 slides
Massachusetts Mid-Year Market Summary in 5 slides