Essex County Town by Town SFH Median Prices
This table shows median prices for the full years 2015 and 2016, and median prices and sales for the first 9 months of 2017. Note that a small number of sales can lead to price fluctuations, as in Nahant and Essex Town. In general, the larger the number of sales, the more reliable is the median price.
While the overall median price in Essex County was $440,000, only 10 of the 34 cities and towns had median prices below this level, while 24 had median prices above $440,000. The reason for this is that the median price for the the County is calculated by taking all individual property sales, and many of the towns with a large number of sales were in communities with lower prices.
If I calculated the median price for Essex County using towns rather than individual sales, the median price would be $511,750. Click Essex County Town by Town SFH Median Prices to download a copy of this report.
Andrew Oliver
Harborside Sotheby’s International Realty
Open Houses Sunday October 15
Here are the Open Houses for a gloriously warm October day:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
NEW PHOTOS NEW PRICE: Marblehead Oceanfront
Breathtaking views all the way down to the South Shore from this gracious, restored (1998-2006), 1870s oceanfront home. The open floor plan offers an easy flow for entertaining. The house sits on a private beach, high above the Atlantic, in a wonderfully protected location (no flood insurance required.) VIEWS and VIEWS and VIEWS.
Open House Sunday 12-1:30 at 11 Crown Way. And here’s a link to the Video.
Carriage house believed to be a stop on the Underground RaiIroad. Property featured by Massachusetts Historical Commission.
Listen to the sound of the ocean, while looking out over the rocks which provide a sanctuary for wildlife.
Just 13 miles north of Boston’s Logan Airport, while enjoying all the charms and delights of the “Yachting Capital of America”, and “New England’s Best-Kept Seaside Secret.” Huge price reduction allows for any further updating required.
Owner says “Bring Me An Offer.”
If you are considering selling your home please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer.
Read Which broker should I choose to sell my house?
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
New Listings week ending October 13
Another slow week for new listings:
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead Q3 market hits new record high
Here is a summary of the market in Marblehead – a full report will be published shortly. Click Marblehead_Q3_2017_summary to download a printable copy of this summary.
Single Family Homes(SFH)
The median price of a SFH exceeded $700,000 for the first time in the third quarter. YTD the median price increased 7% to a new high of $656,000. With most of Q4 sales already under agreement, it is quite likely that the median price will exceed $700,000 for the second half of the year. Sales were down slightly YTD, a consequence of the low inventory all year.
Condos
Marblehead has a small condo market and one which varies from waterfront purpose-built condos to conversions of former apartments. As such, the median price can and does fluctuate. What is notable is that nearly half the sales this year to date have taken place at or above the list price.
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Open Houses Sunday October 8
Here are today’s Open Houses – without competition from the Patriots.
Source: andrewJoliver.com
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead house on Goldthwait Beach for only $52,000*
Sitting directly on and at the top of the longest beach in Marblehead is 46 Gallison Avenue. Huge price reduction means the house – which was substantially rebuilt in 1997 and updated in 2016 – is now offered for a mere $52,000 more than just its assessed land value.
There is an Open House on Sunday 11:30-1:00, or call for a private showing. The website includes a video of the property – and of the views.
Can you imagine living here and waking up to this?
followed by this
and then this
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Essex County: inventory down, prices up
The number of Single Family Homes (SFH) for sale in Essex County dropped almost 10% compared with a year ago and is down over 30% from the level of two years ago.
The number of SFHs for sale under $400,000 has dropped from 627 in 2015 to 375 in 2016 and to 291 today.
Comment
I shall report on the median price next week, by which time Q3 sales will have been report in MLS. Meanwhile, preliminary numbers suggest that the median price of a SFH in Essex County through the first 9 months of the year increased by 7%.
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Essex County Condo Market: very little supply at lower prices
This report compares the supply of condos available for sale now compared with the last two years in Essex County overall, together with the individual markets of Salem, Beverly and Lynn, the three largest condo towns nearby. Because sales are not always reported promptly in MLS, my reports on median prices in these markets will be published next week.
Essex County
The number of condos for sale throughout the 34 cities and towns of Essex County has dropped by 25% over the last year and by one-third compared with 2015. As we shall see – and as one would expect – the drop in supply is most marked at lower prices.
Source: MLS, Oliver Reports
The number of condos for sale under $250,000 has plunged over the last two years from 280 to 179 to just 107. There has been a smaller drop in the $250-350,000 range, and above that the numbers are fairly flat.
Salem
The Salem condo market continues to be very active, while the number of condos for sale has dropped 60% over the last two years.
The story by price mirrors that of Essex County overall: a huge drop under $250,000; a large drop in the $250-350,000 range; and stable above that price. And there is activity at the higher prices: through 9 months Salem saw 101 condo sales above $350,000, yet there are currently just 12 for sale.
Beverly
The statistics for the condo market in Beverly are slewed by the 73 condos at Elliott Landing which came to the market starting in the spring of 2016. Now that these have been sold, the number of condos for sale has dropped back sharply.
Because of the impact of Elliott Landing, where condos sold for between $330,000 and $800,000, it is more relevant to compare today’s inventory with that of two years ago. We see that there are almost no condos under $250,000 and a small increase in the $250-350,000 range.
Lynn
The number of condos for sale in Lynn has also dropped sharply over the last two years.
The median price of the condos sold in Lynn has been close to – but never exceeded – $200,000. Until 2017, when the median price for the first 9 months reached $220,000. There are currently just 9 condos for sale in Lynn below $200,000 – down from 37 two years ago.
Comment
Further comment seems almost superfluous: the condo market in Essex County has been extremely active. Low supply and continued strong demand inevitably lead to higher prices. Preliminary numbers show that the median price throughout Essex County increased 10% in the first 9 months of the year. Check back for the full report next week.
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
No pick up in Fall housing market inventory
As we enter the Columbus Day weekend it is clear that the hoped for pick up in supply in the Fall has not occurred:
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
North Shore Inventory remains low
This report covers the Single Family Home (SFH) market for Swampscott, Salem, Beverly and Lynn. It follows my already published Marblehead inventory: no Fall increase report. This coming weekend I shall publish reports on the inventory for Essex County as a whole and for condos.
Swampscott
Swampscott’s inventory is down only slightly from 2016 but by one-third since 2015:
Source: andrewJoliver.com
The next chart shows the inventory by price. Note the huge decline under $500,000.
One more chart, showing inventory below and above $1 million. While the total number of SFHs for sale under $1 million has more than halved over 2 years, the number over $1 million has increased slightly.
Salem
While Salem is mainly a condo town, there is also a robust market for SFHs. The number of SFHs for sale has dropped by over a quarter in the last two years.
The main decline has naturally been at the lower end. The number of SFHs for sale under $400,000 has almost halved from 25 in 2015 to 14 in 2017.
Beverly
The Beverly SFH has been extremely strong and the number of SFHs for sale has dropped by almost 40% over the last two years.
The median price of a SFH in Beverly broke $400,000 for the first time in 2015 and has jumped sharply since then. The number of SFHs for sale under $400,000 has plummeted form 22 in 2015 to just 4 now.
Lynn
Lynn has seen an extremely active market in the last few years with a lot of rehabbed properties on the market. Inventory has actually picked up as the year has gone on, with supply rising with demand.
The median price of a SFH in Lynn in 2017 will break through $300,000 for the first time. The number of SFHs for sale under $300,000 has collapsed from 67 in 2015 to just 17 today.
Comment
The numbers for the four towns in this report tell a consistent story of strong demand and low inventory, a combination which leads inevitably to rising prices, which is what we are seeing strongly this year.
New Listings as of October 4
Here are the latest new listings:
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead Housing Inventory: no Fall increase
The hoped for pick up in inventory after Labor Day has not occurred, with the number of Single Family Homes (SFH) for sale showing only a very slight increase. The current inventory represents less than 3 months of supply, compared with the generally recognized number of 6 months for a market to be in equilibrium between buyers and sellers.
Here is the overall market, showing a decline of over 40% over the last two years:
And here is the breakdown by price. The biggest drops have, not surprisingly, come at the lower price points. Overall, the number of houses for sale under $1 million is less than half the number of two years ago. The drop has still been nearly 30% above $1 million.
Comment
The story is unchanged: low inventory, strong demand and low mortgage rates. Every real estate agent and mortgage lender has stories of multiple clients wanting to buy but not able to find a house that meets their needs. This in turn creates a situation where sellers are reluctant to list their houses for sale, afraid that they will not be able to find a house to buy. It is hard to see how this deadlock is broken, unless sellers are willing to consider taking the step of selling and being willing to rent somewhere until they find the right house.
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Two Marblehead Oceanfront Open Houses: Huge price reductions
There are two Marblehead Oceanfront Open Houses today and both properties have seen major price reductions:
12:00-1:30 at 46 Gallison Avenue – and here’s the 46 Gallison video
2:00-3:00 at 11 Crown Way – and here’s the 11 Crown Way video
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Open Houses Sunday October 1
The forecast is for abundant sunshine, perfect for visiting these Open Houses:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
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 [email protected].
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?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
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