Marblehead sales history under $1 million

After I published my Record Million Dollar Sales post with numbers for the last 15 years I was asked to do the same for sales under $1 million. Here goes – in chart form!

First, the number of sales. Note that in 2000 there were 54 sales under $300,000. That number slumped to just 1 in 2005 as prices increased. Similarly, the number of sales from $300-499k more than halved in the strong market of the early 2000s, while sales from $500-749k doubled. The trends then reversed during the slump and changed again as the market recovered.

Source: MLS, Oliver Reports

It would have been interesting to add the median price to the above table but I could not figure out how to do that. I did, however, manage to add median price to the chart below, which shows the percentage of sales each year in the different price brackets. Note that the percentage figures are of sales under $1 million, not total market sales.

Source: MLS, Oliver Reports

Finally, a chart showing the actual number of sales together with the median average (I still don’t understand why I couldn’t add the median price to the first chart).

Source: MLS, Oliver Reports

In 2014 the median price for Marblehead was $590,000. Thus it seems likely that the number and percentage of sales in the lower price levels will continue to drop. And, as we saw in the earlier reports, sales above $1 million were a record in 2014.

All these numbers suggest a firming, but not runaway, market in Marblehead.

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 [email protected].

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated.

@OliverReports