Marblehead home prices set record in Q3

In Q3 the median price of a Single Family Home (SFH) in Marblehead reached $660,000, finally beating the 2006 Q3 figure of $645,000.

The 2006 Q3 number was an anomaly. Until Q4 2014 it was the only quarter to see a median price over $600,000. But since then:

The Q3 2015 number was an increase of 11% from $595,500 in Q3 2014. For the first 9 months of 2015 the median price was $621,500, an increase of 6% from $585,600 in 2014. These increases are about double those for Essex County and Massachusetts overall.

Q3 often sees the highest median price for the year, just as Q1 often sees the lowest. That seems likely to be the case again this year as the median list price of the 32 currently pending sales is around $550,000. Nevertheless, it seems quite likely that 2015 will see the median price exceed $600,000 for the first time.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read Which broker should I use to sell my home?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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