Is this Marblehead’s most expensive sale?

According to MLS, an offer has been accepted on 204 Ocean Avenue, which is listed for sale at $6.5 million.

We will not know the sale price until closing but the highest public (MLS) sale recorded in Marblehead is $5.6 million, so there is a good chance that this sale will set a new MLS record. Note, however, that there was a private sale at $6.7 million in 2008.

High End Sales
Here is a year by year list of sales since 2004. Sales in the $2 – 3 million range hit a new high of 9 in 2016, while sales above $3 million have been 3 or 4 in each of the last 5 years. Maybe 2017 will see a break out in sales over $3 million:

Source: MLS, Oliver Reports

While it is logical that there have been more sales in the $2-3 million range than above $3 million, it is perhaps a little surprising that sales in the $3-4 million range have been only  little higher than those above $4 million: 18 to 16.

What is the Outlook for the High End in 2017?
In What does the election mean for real estate markets? published last November I wrote: “lower corporate tax rates and lower personal tax rates will produce increased personal wealth. Interest rates will rise, reflecting the stronger economy, and the demand for housing will increase. Greater wealth and confidence will provide a boost to the higher end of the market.”

Maybe we are starting to see that boost.

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

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.

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

@OliverReports