Two Marblehead Oceanfront Open Houses today
Two spectacular house on one spectacular Sunday:
46 Gallison Avenue from 12:00 – 1:00.
11 Crown Way from 1:30 t0 2:30.
(more…)
Open Houses Sunday January 15
A fine and sunny day is promised for these Open Houses: (more…)
Marblehead 2016 Housing market By the Numbers.
The median price for both Single Family Homes (SFH) and condos reached new highs in 2016. The median price of a SFH increased 4% to $620,000 ( click here for a detailed report ) and the median price of a condo increased 15% to $370,000, fueled by a sharp jump in sales between $350,000 and $500,000.
Source: MLS, Oliver Reports
Are you thinking of selling your home? If so 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.
Not sure which broker to use to sell your home? 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 of January 13
Here are the week’s new listings:
Source:andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
GO PATS!!
Are you thinking of selling your home? If so 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.
Not sure which broker to use to sell your home? 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
Salem 2016 Housing Market: record prices and sales
In 2016 the median price of a Single Family Home (SFH) in Salem increased by $21,000, or 6%, to $370,000, a new record high. Sales jumped 16% to a new high while the average number of houses for sale dropped slightly, indicating that houses sold very quickly. I shall publish a separate report on the equally buoyant condo market.
Median price*
The first chart, with the numbers below, shows the median price for the two halves of the year and for the full year.
Source: MLS, Oliver Reports
Swampscott 2016 housing market: prices up, supply really low
In 2016 the median price of a Single Family Home (SFH) in Swampscott increased by $28,000, or 6%, to $488,000, a sharp recovery from the Great Recession lows but still 6% below the exceptional peak of $517,300 in 2005 (read What happened in Swampscott in 2005?). Sales dropped back, largely in the second half of the year, but the big story was the continuing shrinking of the number of homes for sale, which averaged only half the level of 2014.
Median price*
The first chart, with the numbers below, shows the median price for the two halves of the year and for the full year. But for 2005, 2016 would have represented a new high.
Source: MLS, Oliver Reports
Surprising jump in $4 million plus sales in New York
According to the experts, New York City’s luxury market is expected to be sluggish in 2017, but last week saw 23 contracts signed at $4 million and above, the best first week of January in three years, according to this report from Olshan Realty. (more…)
6,000 sf : $50 million in New York, $3 million in Marblehead
The sale has been announced of a 6,000 sf plus a penthouse at 70 Vestry in Tribeca on the market for $50 million. Which got me thinking about a 6,000 sf plus oceanfront house 11 Crown Way for sale in Marblehead for just $3 million.
Here are photos followed by a comparison of amenities: (more…)
Save $6 million on this English mansion
Westbourn is a new mansion of approx 22,087 sq ft gross external area plus a 1,000 sq ft roof terrace, built from natural Bath stone and standing in beautiful landscaped grounds. It is on the market for £23 million. Before Brexit that would have been about $33 million, but now it can be yours for a mere $27 million. My number is at the bottom of this post. Call and I’ll fly over with you to close the deal. One word of caution: the buyer must like grey and chocolate – or face a huge painting bill.
What is a Cape Cod house?
What is a Cape Cod house is an article which appeared on realtor.com and contained this description of the original Cape-style home:
- Simple rectangular shape and small size. Due to the extreme cold of winter, the smaller the house, the easier and less expensive it was to heat.
- Steep, slanted roof to help snow melt off.
- A central chimney in the middle of the home (all the easier to heat the rooms on all sides) connected to fireplaces in many rooms.
- Cedar shutters and shake shingles to protect against strong winds.
- Low ceilings to also help conserve heat.
- A central hall with equal space on either side
- No porch or other ornamentation (and least in their earliest incarnations).
While naturally Capes have evolved over time they retain most of the original features. And did you know that the houses on Monopoly are Capes? (more…)
Marblehead house with pool AND skating rink
Only in Marblehead can you buy a house 11 Crown Way with a pool AND a skating rink*
* do not try this at home – unless you buy the home, are over 21 and sign a disclaimer with your insurance company. (more…)
Open Houses on January 8
It’s a spectacular post storm day on the North Shore. Here are today’s scheduled Open Houses: (more…)
Marblehead: a great place to do business
Those of us fortunate enough to live in Marblehead are well aware that, in addition to all the other benefits, we live in a town which takes price in its strong fiscal management which keeps taxes low – our tax rate is the fourth lowest of the 34 cities and towns in Essex County.
The commercial tax rate, however, receives less attention, but here again Marblehead has the fourth lowest tax rate. And more importantly, the commercial tax rate is much lower than that in surrounding towns. I have published Wide variations in commercial tax rates but here I want to show a small map of the immediate area:
Source: MA Dept of Revenue
What this shows is that Marblehead is not only great place to live – it’s also a great pace to do business. (more…)
Commercial property tax rates: wide variations in Essex County
While most of us look at residential tax rates, far fewer are concerned with commercial tax rates. Yet a healthy commercial business environment can contribute significantly to the attractiveness of a town. The map below shows commercial rates in each of Essex County’s 34 cities and towns, followed by a table comparing residential and commercial rates.
Source: Mass Dept of Revenue
Commercial vs Residential rates
This table shows the residential and commercial rates and the percentage by which the commercial rate exceeds the residential one:
Source: Mass Dept of Revenue
There is a bigger variation in commercial rates than in residential rates
The lowest rate for both residential and commercial rates is Nahant’s $10.46, but while the highest residential rate is Amesbury’s $19.95, there are 12 towns with commercial rates over $20, with the highest being $33.59 in Lawrence. 20 towns set the same rate for both residential and commercial, while in 3 towns the commercial rate is more than double the residential one.
Why do some towns have different residential and commercial tax rates?
Cities and towns have the ability to increase the percentage of the total tax bill paid by commercial (and industrial and personal) property owners. The percentage of the value of property classified as commercial varies enormously from town to town. In Marblehead, for example, where residential property is almost 95% of the total, a 50% tax shift to commercial would increase the average commercial tax bill by $3,179 while reducing the average residential tax bill by only $179. Towns with a higher percentage of commercial property are more likely to shift an increased share of the tax bill to commercial owners.
Are you thinking of selling your home? If so 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.
Not sure which broker to use to sell your home? 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
Marblehead 2016 housing market: new record
In 2016 the median price of a Single Family Home (SFH) increased by $23,500, or 4%, to $620,000, the first time the median price in Marblehead has exceeded $600,000 for a year. As in every year since 2000 except 2010 and 2011, the median price was higher in the second half of the year than in the first half.
Sales were in line with those of the two prior years – 248 vs 245 and 239 – while the number of SFHs for sale on average was much the same as 2015 but down about 25% from 2013 and 2014.
It is important to bear in mind that only around 4% of Marblehead’s more than 6,200 SFHs change hands publicly in any year, but 4% is a reasonable sample, with sales taking place from $300,000 to $4 million.
Median price
The first chart, with the numbers below, shows the median price for the two halves of the year and for the full year. 2016 was the third year in a row where the median price reached $600,000 in the second half of the year, but the first where the full year exceeded $600,000. (more…)
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