Open Houses weekend July 21/22
Here are the weekend’s Open Houses:
Saturday
Sagan Harborside SIR
Marblehead Saturday Open Houses
Swampscott Saturday Open Houses
Saelm Saturday Open Houses
Beverly Saturday Open Houses
Lynn Saturday Open Houses
Sunday
Sagan Harborside SIR
Marblehead Sunday Open Houses
Swampscott Sunday Open Houses
Salem Sunday Open Houses
Beverly Sunday Open Houses
Lynn Sunday Open Houses
New Listings week ending July 20
New listings for the week ending July 20:
Sagan Harborside SIR
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Mid-Week New Listings July 18
Here are the latest new listings:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Marblehead Antique near Harbor Open House today
9 Merritt St has an Open House today from 11:30 -1:00. The house features extraordinary, museum quality period details. Built before the Revolution this property was originally both a home and bakery for many years. The house still boasts details from these early years. The master bedroom perfectly blends wonderful “Old World” character with a spacious walk-in closet and beautiful newer master bath. There are 3 additional good sized bedrooms, another full bath, 4 additional fireplaces, tall ceilings throughout and beautiful wood floors. The gardens have been designed to afford amazing privacy with comfortable outdoor spaces. All this with a 2-car garage and additional 2-car parking make this a rare Marblehead gem.
Marblehead Antique predates the Revolution
Celebrate July 4th by visiting 9 Merritt St, which has an Open House today from 11:30 -1:00. The house features extraordinary, museum quality period details. Built before the Revolution this property was originally both a home and bakery for many years. The house still boasts details from these early years. The master bedroom perfectly blends wonderful “Old World” character with a spacious walk-in closet and beautiful newer master bath. There are 3 additional good sized bedrooms, another full bath, 4 additional fireplaces, tall ceilings throughout and beautiful wood floors. The gardens have been designed to afford amazing privacy with comfortable outdoor spaces. All this with a 2-car garage and additional 2-car parking make this a rare Marblehead gem.
Open Houses Sunday July 15
Today’s Open Houses in Marblehead, Swampscott, Salem, Beverly and Lynn:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Open Houses weekend of July 14/15
Here are this weekend’s Open Houses.
Saturday
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Sunday
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
New Listings week ending July 13
The most recent new listings:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
New Listings after July 4
Here are the new listings after July 4:
And now the details:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Open Houses Sunday, July 8
Although they do not show up in my source, these two properties in Marblehead have Open Houses both today:
34A Constitution Way from 11:00-12:30
70 Nanepashemet from 1:00-2:30
Marblehead Open Houses
Swampscott Open House
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
How low is housing inventory?
While housing inventory may appear to have bottomed in terms of the number of properties listed for sale, as reported last week in Has Housing Inventory finally bottomed?, a more meaningful statistic is the number of months’ supply that current inventory offers.
Bering in mind that 6 months’ supply is generally regarded as representing a market in equilibrium, the following tables – for Single Family Homes (SFH) and Condos – show that Essex County and Massachusetts, as well as the vast majority of individual towns and cities, remain very strong sellers’ markets.
SFH
Condos
Sagan Harborside Sotheby’s International Realty
Salem Mid-Year 2018 Housing Market Report
(Click here to download a PDF of this report)
The median price of the Single Family Homes (SFH) sold in Salem in the first half of 2018 jumped 13% to $425,500.
The median price has now exceeded $400,000 for three consecutive quarters.
SFH Sales
Sales recovered somewhat after the drop in 2017.
Sales by Price
The percentage of sales taking place below $400,000 has dropped from 57% to 37% in the last two years.
SFH For Sale
As of July 1, there were just 8 houses for sale in Salem under $400,000.
Condos
The median price increased 10% compared with 2017 to $335,000.
After some fluctuations in 2017, the quarterly median price seems to have broken solidly through $300,000.
The median price increased 10% compared with 2017 to $335,000.
Condos For Sale
As of July 1 there were just 9 condos for sale under $350,000, down from 44 in 2016 and 23 in 2017.
Summary
Salem is a city which has been attracting people for many years with the logical result being a strong housing market which this year has become “hot”. With inventory on July 1 at just 1.5 months supply for SFHs and less and 1 month for Condos (6 months’ supply is regarded as a market in equilibrium between buyers and sellers) Salem remains a strong sellers’ market.
Sagan Harborside Sotheby’s International Realty
Essex County Mid-Year Housing Market Flash Report
A week after the end of the quarter we are still waiting for a handful of agents to update listings which were scheduled to close in June. Hence these numbers are not final but will be very close.
Single Family Homes (SFH)
Sales: flat in the second quarter, down about 2% YTD
Median Price: up nearly 6% to $455,000, a new record. The median price reached $400,000 for the first time in the first half of 2016.
Condos
Sales: flat in the second quarter, down about 3% YTD
Median Price: up 3.5% to $295,000, a new record. The second quarter may just have reached $300,000 for the first time.
Sagan Harborside Sotheby’s International Realty
Open Houses weekend of July 7/8
The humidity has gone and it will be a delightful weekend to visit these Open Houses:
Saturday
Although they do not show up in my source, these two properties in Marblehead have Open Houses both today and tomorrow:
34A Constitution Way from 11:00-12:30
70 Nanepashemet from 1:00-2:30
Swampscott Open House
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Sunday
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houises
Lynn Open Houses
Marblehead Mid-Year 2018 Housing Market Report
(Click here to download a PDF of this report)
The median price of the Single Family Homes (SFHs) sold in Marblehead in the first half of 2018 increased by 10% from a year ago to $692,500. In 16 of the last 18 years – the exceptions being during the Great Recession in 2010/11 – the median price has been higher in the second half of the year than in the first.
As the chart below shows, prices can and do fluctuate from quarter to quarter, but it is worth noting that only twice in the last 18 years has the highest price for the year been achieved in the first quarter.
Sales
Sales declined, largely as a result of the shortage of inventory, as demand remained very strong.
Sales by Price
Just one in 10 sales in the first half of 2018 occurred below $500,000, while just over half the sales took place between $600,000 and $1 million. Sales over $1 million were up sharply from last year, which saw a slow start to such sales.
Of the 85 sales, 25 occurred above the list price while 7 were at list price.
Current Inventory
While inventory has increased somewhat in recent weeks, it is still below the level of prior years and currently there are just 24 houses for sale for under $1 million.
Condos
The condo market in Marblehead is small and varies from old 2-3 family conversions to purpose-built oceanfront units. Those two factors can – and frequently – do cause wide swings in the recorded median price. The larger the sample the more reliable the number (the law of large numbers) so I place some confidence in the half-yearly number and most in the full year’s figure. Note also the breakdown in sales by price shown after the pricing information.
Condos For Sale
As of July 1 there were just 2 condos for sale under $450,000.
Summary
Higher mortgage rates in the first half of 2018 had little or no effect on demand which continued to outstrip supply. With only 12 of 54 SFHs currently for sale and 8 of 17 pending sales having list prices under $700,000, it seems likely that the median price may well exceed $700,000 for the year for the first time.
Sagan Harborside Sotheby’s International Realty
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