Open House today on Marblehead’s Goldthwait Beach
Stunning views from 46 Gallison Avenue which has an Open House today 12:30 – 2:00.
If you are considering selling your home 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
Boston – sneaker capital of the world
Boston is famous for its world class health care, education, sports teams, weather – well, maybe not weather – but did you know it is also about to become the sneaker capital of the world?
This week Reebok announced that it is moving its headquarters to Boston in 2017. This follows moves last year to Boston by both Converse (owned by Nike) and New Balance.
“We see a real opportunity to serve our workforce better by being in a setting that’s more accessible to public transportation, that’s more accessible to many of the positive things that are happening in Boston right now,” president Matt O’Toole told the Boston Globe. “We feel like there’s a real vibrant community that we want to more closely connect to.”
If you are considering selling your home 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
Open Houses Sunday November 6
No Patriots game and zero chance of snow so no reason not to go to these Open Houses today:
Marblehead Open Houses
Swampscott Open Houses
Salem Open Houses
Beverly Open Houses
If you are considering selling your home 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
Essex County Q3 market: town by town
In this post I report the numbers for the Single Family Home (SFH) market for each of the 34 cities and towns in Essex County.
Explanation of columns
The tables start with the median price for the first three Quarters for 2005 and 2006, the prior peak years, and then show 2015 and 2016 numbers.
The first highlighted column shows the percentage increase from 2015 to 2016; the second the comparison between 2016 and the prior high – normally 2005 but in some cases 2006.
The last three columns show sales YTD for 2015 and 2016 and the change.
The towns are listed, not alphabetically, but in the order of their percentage change in median price compared with the prior 2005/06 peak.
My comments are shown after the tables
Comment
As reported in previous posts, the median price of a SFH in Essex County and Massachusetts improve 4% and 2.5% respectively Year on Year (YOY), and in both cases set new record highs.
As always, though, the devil is in the detail.
Of the 34 cities and towns, 15 are at a new high, while 19 remain below their prior peaks. Going deeper, 5 towns – Merrimac, Manchester, Lynnfield, Newburyport and Beverly – show increases of 10% or more; while 7 – Salisbury, Nahant, West Newbury, Rowley, Georgetown, Wenham and Essex – show prices 10% or more below the earlier peak.
And Manchester-by-the-Sea is the first town to have a median price over $1 million, although I suspect it will drop back below that figure for the year as a whole.
The law of large numbers – and small
As a basic rule of statistics – and a pretty obvious concept – the larger the sample the more reliable is the number. Thus, note that the two towns with the highest increase and all of those with declines of 10% or more had sales of fewer than 100 units.
In the most extreme example, the numbers for the town of Essex reflect just 24 sales in 2005 and 19 in 2006 and the latter seems a more realistic indication of pricing.
My offer
Summary numbers such as those in this report are a good starting point – not the total answer – for the analysis of a town’s market.
Regular readers will know of the detailed reports I publish on individual towns and which I am happy to produce on request for any town.
If you are considering selling your home 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 November 4
No reported listings this week of penthouses in Trump Tower or Dutch Colonials in Chappaqua, and just a few here on the North Shore.
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings
If you are considering selling your home 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
Theo Epstein for President
Despite my personal opinions – make that my strong personal opinions – I have, until now, not commented on the forthcoming election.
But I feel moved to share this Alex Beam article from the Boston Globe.
Two comments I find particularly compelling: no Chicago Cubs player has made a donation to Theo’s Foundation and subsequently been picked to play for the Cubs; and in January 2017 Theo will be 43, the same age as another Brookline native, JFK, was when he became President.
Theo for President? Alex Beam makes a strong case.
If you are considering selling your home 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
Once a year Household Chores
England’s Daily Telegraph has published this list of Chores that only need to be done once a year.
The list of nine tasks has been compiled by Good Housekeeping Institute domestic gurus, who say they only need to be performed every 12 months.
2,3,5 and 9 ring a bell with me. What about you?
If you are considering selling your home 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
Open Houses Sunday October 30
60 degrees today so great weather to visit these Open Houses: (more…)
MA Q3 housing market report: headed for new high
The median price of a Single Family Home (SFH) in Massachusetts rose 4% to $383,000 in the Third Quarter (Q3) and 3% to $370,000 for the Year to Date (YTD). Both numbers represent new highs and suggest that 2016 as a whole will set a new record – finally beating the $362,000 of 2005.
While sales YTD were up almost 10%, they were actually down slightly in Q3, reflecting a 20% decline in inventory compared with a year ago. (more…)
72 hour sale on Marblehead Oceanfront home
The price on 11 Crown Way has been reduced to $2.75 million until Monday at 5 pm. There is an Open House on Sunday from 12:00-2:15.
Here’s a video and here are the floor plans.
Essex County Q3 housing market: on track for new record
The median price of a Single Family Home (SFH) in the 34 cities and towns of Essex County rose 4% to $420,000 in the third quarter and was also up 4% to $410,000 for the first three quarters. The market is clearly on track to break the 2005 peak of $394,400.
Sales were also up 4% for the first three quarters, but that included a drop of 8% in Q3, reflecting a more than 20% drop in the number of houses for sale. (more…)
New Listings week of October 28
Another quiet week for new listings: (more…)
Is this why there are so few homes for sale?
One of the puzzles of the housing market has been why there are so few houses available for sale. Many reasons have been proffered: buyers reluctant to trade up, impact of student loan payments on the ability to obtain a mortgage, boomers holding off selling while they recover from the Great Recession, low levels of new home construction, etc.
A new report Many starter-SFH homes have shifted to rentals from Fannie Mae reveals another reason: that nationally the stock of owner-occupied starter homes declined by more than 1 million units between 2005 (roughly the peak of the housing boom) and 2013 (the most recent year for which data are available), whereas the inventory of renter-occupied starter homes rose by approximately 2 million units during the same period (see chart). Starter homes – defined as SFHs with less than 2,000 sf of floor area – accounted for two-thirds of the growth in all single-family detached rentals during the period. (more…)
Open Houses Sunday October 23
Today’s Open House list covers almost exactly one-third of the total supply, with Swampscott SFHs again being under-represented. Individual OHs are shown by town below the table: (more…)
New Listings week of October 22
A welcome pick up in new listings in Swampscott, but otherwise another quiet week. (more…)
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