Marblehead housing inventory suggests prices will continue to rise

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Sales of Single Family Homes (SFHs) for the first four months of the year were 49 compared with 54 a year ago, while condo sales were 11 against last year’s low figure of 6.

Both the sales breakdown and inventory suggest that the market will continue to strengthen in Marblehead this year.

Here is the breakdown of SFH sales by price:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

This clearly shows that activity is moving up the price range, with the drop in sales under $500,000 and the jump over $1 million notable.

Here’s the current inventory:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

This suggests that the sellers’ market of last year has been extended up to $750,000, while above that it is still a buyers’ market, especially at the top end.

In condos, there are 12 available under $350,000, but just 4 above that.

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

 

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.

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty

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