Marblehead Inventory plummets
The number of Single Family Homes (SFH) for sale in Marblehead on September 1 is 52, down by one-third from last year and by nearly a half from 2015.
SFH Inventory by price
Not surprisingly, the biggest declines in inventory are at the lowest price levels, but there are still significant declines at virtually every price level.
Strong demand, low mortgage rates and low supply continue to drive prices upwards. The median price of a SFH in Marblehead for the first 8 months of the year was $654,000, up 75.5% from the year 2016 figure of $620,000, the first time the median price reached $600,000. Unless and until the supply position changes, and while the economy continues to grow steadily, there is no reason to expect a change in the formula which is driving prices higher.
If you are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated