March Inventory shows no Improvement

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Overall in Essex County, while Inventory has been reasonably consistent in the last 3 years, it is running at less than half the 2020 levels for both Single Family Homes and Condos.

Single Family Homes (SFH)

Condos

Mortgage rates

As the market understood that the Fed was done hiking rates, but with no evidence that the the economy was slowing, the yield on 10T increased sharply in the second half of 2023 before falling again. The 30-year Fixed Rate Mortgage (FRM) has followed the pattern of the 10T yield.

For my 2024 mortgage forecast read Why Mortgage Rates will fall in 2024.

 

And these recent articles:
Why Mortgage Rates will fall in 2024

How was MY assessment calculated? Q&A with Marblehead Assessor Karen Bertolino
My Marblehead Current article on Property Taxes
Marblehead FY 2024 Property Tax Explained
 Why Mortgage Rates will fall in 2024
 How a tax break of up to $3,200 can help heat your home more efficiently this winter
 Conventional Mortgage Loan Limits increased for 2024

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or ajoliver47@gmail.com.

Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

m 617.834.8205

www.OliverReportsMA.com

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Salem, Beverly, Lynn and Swampscott.”