Are Millennials ready to buy homes?
Using data produced by the National Association of Realtors, the Washington Post recently published an article about the intentions of Millennials towards home buying. The message seems to be that while millennials are not buying homes at an early age as their predecessors did, buying a home is still important to them.
Change in home ownership since 1960
Factors affecting first home buying
Are Millennials financially ready for home ownership?
When did Millennials know they wanted to buy a home?
Why do Millennials Buy Homes?
Perhaps the most important chart is the one below, which shows why Millennials buy homes.
Comment
The timing of home purchase may have changed dramatically over the years. but the desire to own a home has not. Millennials may be happy to share a car, but at some point they want to own their own “castle”.
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?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
New Listings in Marblehead, Swampscott, Salem, Beverly and Lynn
Here are the week’s new listings:
andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
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?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Mother’s Day Open Houses
Here are just a few Open Houses:
Source: andrewJoliver.com
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Not sure how to choose the broker to sell your home? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
Marblehead: Sold and For Sale by price
We know there is a chronic shortage of houses for sale generally, but the situation varies greatly by price. Look at this chart, which shows the number of homes in Marblehead sold so far in 2017 or where the sale is pending, versus the number currently available for sale:
Source: MLS, Oliver Reports
As a very rough guide, the number of sales and pending sales in early May will equal actual sales for the first half of the year.
A market is considered to be in equilibrium between buyers and sellers when the number of homes for sale equals about 6 months of sales. If that were the case in Marblehead, the two columns – for sales/pending sales and homes for sale – would be the same size.
Which they are not. At all price points up to $1 million, sales/pending sales greatly exceed supply. And at all price points above $1 million, supply greatly exceeds sales/pending sales.
One of the surprises of the market this year has been how weak demand has been for higher-priced homes. Logically, with the market so active under $1 million, and macro-economic factors – the stock market at record levels, expectations/hopes of tax cuts coming – positive, one would expect to see sellers trading up. And that is especially true in Marblehead, a town people are reluctant to leave – meaning most sellers plan to buy another house in town.
The optimistic view is that this may be a timing issue and that sales of higher priced houses will soon pick up. But clearly this is an excellent time to trade up to a higher priced home – and you don’t have to compete with 90 groups at Marblehead Open 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.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Open Houses SATURDAY
While there are a few Open Houses tomorrow, Mother’s Day, the majority of the weekend’s Open House are being held today:
Source: andrewJoliver.com
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
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?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
New Listings week of May 12
This may sound like a broken record, but another quiet week for new listings – and it’s May!
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
New Listings in Marblehead, Swampscott, Salem and Beverly
Here are the new listings over the past week:
Source: andrewJoliver.com
Marblehead new listings
Swampscoptt new listings
Salem new listings
Beverly new listings
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
90 Groups at Marblehead Open House
After my post last week 60 groups at Swampscott Open House for house in the $500s, this past weekend there were 90 groups at a Marblehead Open House for a house in the $600s.
If we assume 50% of the attendees at each Open House were genuine buyers, that means there are 29 buyers still looking for a house in Swampscott in the $500s and 44 in Marblehead in the $600s.
Read Sellers: now is the time to act.
Then read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead Open House on Goldthwait Beach
Live the dream in Marblehead – listen to the ocean – watch the ocean – walk on the beach.
Repeat.
Open Today 12-1:30
Open Houses May 7
Good-bye rain; welcome back sunshine in time for these Open Houses:
andrewJoliver.com
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
Lynn Open Houses
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
UK’s smallest castle for under $700,000
if you have ever dreamed of owning a castle here’s your chance. Molly’s Lodge – the smallest castle in the UK – recently went on the market for the price of a small flat in London.
Credit: Caters
The castle has turrets (of course), a bedroom in the main castle and a smaller one in an outbuilding, a dining room with mullion windows and a Victorian cast iron fireplace.
It has a bathroom and a sitting room as well as a double carpark and garage which houses an office.
In terms of the grounds, there is a long gravel driveway which leads up to an oak front door.
Molly’s Lodge also has a pond, an orchard, vegetable patches and a chicken run.
Read UK’s smallest castle for more details.
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?
Please contact me on 617.834.8205 or [email protected] for a free market analysis and explanation of the outstanding marketing program I offer
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Marblehead’s most expensive MLS sale
As expected the sale of 204 Ocean Avenue has set a new record for MLS sales in Marblehead with a price of $5.8 million. This beats the previous highest MLS sale recorded in Marblehead of $5.6 million recorded in 2008. Note, however, that there was a private sale at $6.7 million in 2008.
In another sign of renewed activity at the higher end a house listed at $3.4 million recently received an offer.
Gradually, in recent years, we have seen activity moving up the price brackets. 2016 saw a record number of sales from $2-3 million. Will 2016 see a new record for sales over $3 million?
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
1,000 Blog Posts
Today I published the 1,000th post since starting my blog. And I worried when I started if I would have enough topics to write about!
In addition to my statistics on all the cities and towns of Essex County, as well as the County and Massachusetts overall, I publish on a wide range of topics, including mortgage rates, property taxes, flood insurance.
My articles are short, with my goal that you should be able to read them in 1-2 minutes (sometimes the year end reports will be longer with the amount of data I cover).
And I try to lighten things up with articles about luxury properties, properties owned by celebrities and even about the smallest castle in England (that will be published tomorrow).
The reasons I suggest to people that they sign up for email alerts when I post new articles is so that they can just click on the articles of interest to them.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
Marblehead: what is available by price
The number of Single Family Homes (SFH) for sale in Marblehead is down by more than 25% from last year, dropping from 75 to 54. The chart below shows the supply at different price points for the last 3 years on this date:
Source: MLS
The lowest-priced home for sale is listed at $559,000 and there are just 4 homes for sale below the median price for 2016 of $620,000.
Of the 54 SFHs currently available only 20 are listed below $1 million versus 34 listed over $1 million.
As a buyer it may be worth checking out the houses that have been on the market for a while and taking another look.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
New Listings week of May 6
Here are this week’s new listings:
Source: andrewJoliver.com
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
Lynn new listings
Are you thinking about selling? Read Which broker should I choose to sell my house?
Please contact me on 617.834.8205 or [email protected] 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
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