Salem Q1 Housing Market by the Numbers
This report gives a picture of the Salem Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago.
Median Prices and Sales
Sales of SFHs were up slightly from last year, but sales of condos rose sharply. The median price of a SFH was slightly lower than a year ago, while that for condos was up. Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Current Inventory
While inventory is down somewhat compared with a year ago, the drop is quite modest.
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.
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
Swampscott Q1 Housing Market by the Numbers
This report gives a picture of the Swampscott Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago, a comparison which shows a huge drop.
Median Prices and Sales
Sales of both SFHs and condos were down slightly from last year, while the median price for both categories increased somewhat. Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Current Inventory
The big story is the shortness of inventory compared with a year ago. The number of SFHs for sale under $500,000 is just 5 compared with 19 a year ago. Overall inventory for both SFHs and condos is about half that of a year ago.
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.
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 Q1 Housing Market by the Numbers
This report gives a picture of the Essex County Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago, a comparison which shows a significant shift by price.
Median Prices and Sales
Sales of SFHs increased sharply from the levels of the last few years and were back to levels last seen in 2005. Condo sales were also well up, although they remain well below the levels of 2004-2007. The median prices for both SFHs and condos edged down slightly.
Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Current Inventory
The changing housing market is well illustrated by the change in inventory compared with a year ago. The median SFH price in Essex County is a little below $400,000. A year ago there were 450 houses available below this level, but today there are just 278, a drop of 38%. Above $750,000, there is an increase in supply.
A similar pattern is seen in condos, where the median price is around $250,000. The supply of condos for sale only increases above $500,000.
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.
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
Sunday Open Houses
It’s a beautiful day in New England. Here is today’s list of Open Houses: (more…)
Saturday Open Houses
As the spring selling market gets into full speed we are seeing more Saturday Open Houses:
Marblehead Open Houses
Salem Open Houses
Swampscott 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.
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.
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
Marblehead Q1 Housing Market by the Numbers
This report shows a picture of the Marblehead Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago. For a more detailed report on the Q1 SFH market read Marblehead home prices set record in Q1
Median Prices and Sales
Sales of both SFHs and Condos were quite consistent with the last couple of years. The median price of a SFH was the highest recorded in the first quarter, but as my report above showed a lot of that was due to the mix of sales in the quietest quarter of the year.
Marblehead’s condo market is a mix of older conversions and newer developments. This, together with the small number of sales, leads to great volatility in the median price over short periods of time.
Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Current Inventory
When looking at the inventory of houses for sale it is important to remember the difference between relative and absolute. Relatively speaking, inventory is up on a year ago with all the increase above $750,000. But in absolute terms the numbers are still low. Marblehead has averaged around 70 SFH sales in Q2 – April to June – in the last few years. Current inventory of 65, therefore, represents less than 3 months of supply.
The number of condos for sale, while higher than at this time last year, is still absolutely low.
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.
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.
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
Beverly Q1 Housing Market by the Numbers
This report shows a picture of the Beverly Q1 Housing Market by the Numbers, followed by a snapshot of current inventory compared with a year ago, a comparison which shows a huge change at lower price points.
Median Prices and Sales
Sales of SFHs recovered sharply from last year, although sales of condos were down slightly. The median price of a SFH was lower than a year ago, while that for condos was well up. Always remember that quarterly numbers can be – and frequently are – volatile, especially during the winter months. We will get a truer picture of the underlying market trends when we get the numbers for the first half of the year.
Current Inventory
The median SFH price in Beverly is around $400,000. A year ago there were 19 houses available below this level, but today there are just 7. A similar pattern is seen in condos, where the median price is around $250,000. The number of condos for sale below this level is half that of a year ago.
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.
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.
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 April 17
It promises to be a sunny 50 degree plus today on the North Shore today – perfect for visiting these Open Houses: (more…)
San Francisco starter homes?
This billboard sign raises an interesting question:
By “low $1,000,000s” do they mean, say, $1,050.000, or low millions such as $2 million or maybe $3 million?
Either way, I am sure they are a “bargain” in San francisco’s red-hot housing market. (more…)
Are new listings up in Marblehead?
It would be logical to assume that, after a mild winter and with continued improvement in the housing market locally, new listings this year would show an increase. That has, indeed, proved to be the case compared with last year, but total new listings in the first quarter were very similar to the number for 2013 and 2014.
Total new listings Q1
Break down by List Price
When we look at the list price of new houses on the market, we see an interesting pattern, one which gives support to the belief that prices are rising. If we focus on 2013, 2014 and 2016, when the total numbers were very similar, we see a clear trend: a sharp drop under $500,000, and modest increases up to $1.5 million.
What is the seasonal pattern of new listings?
While this article has focused on new listings in Q1, the peak period for new listings is only now underway. Note how Q1 and Q3 were similar in 2013 but in 2014 and 2015 there were more new listings in Q3. And Q4, not surprisingly, saw the lowest number in each year.
And finally, if only because these I had to calculate all these numbers to get the summaries, here are the monthly numbers.
Comment
While it maybe somewhat surprising that new listings are not showing, at least so far, a greater increase from the levels of 2013 and 2014, we are now in the peak period for new listings. Half-way through April, however, we have seen just 21 new listings, not an indication of any general pick-up in listings.
The demand is clearly out there – 8 of April’s 21 new listings have already received offers – meaning this is an excellent time to list your house for sale if you are planning to move.
If you – or somebody you know – 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.
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.
Read How should I choose the broker to list my house for sale?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.
@OliverReports
The week’s New Listings
The number of the week’s new listings was much the same as last week. Read Are new listings up in Marblehead? for an analysis, by price, of new listings this year, and of new listings by month since 2013.
What we are starting to see, however, is listings coming to the market during the week and receiving an offer before the first weekend open house. If you are looking to buy in this market, it would be a good idea to be working with an agent who will call you as soon as a new listing comes to the market that meets your criteria. (more…)
Marblehead Old Town Antique – Open House
If you are looking for an antique home in Old Town with high ceilings, wide staircases, beautiful antique features and plenty of space, make a point of going to today’s Open House at 59 Washington Street in Marblehead from 11:30 to 1:00. If that time is inconvenient call me for a private showing.
This Bright and sunny 1800 Antique Colonial is over 3,000 s.f. and has 6 Bedrooms and 4 Baths, including a self-contained 1 bed 1 bath apartment (AirBnB?). It has high ceilings, wide staircases, wide pine floors and 7 fireplaces, while also offering 2 decks and garden areas.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.
Read How should I choose the broker to list my house for sale?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.
@OliverReports
Sunday’s Open Houses – no snow please
Last week’s Open Houses, on the first Sunday after Easter, were affected by snow that morning. It may be chilly today but the forecast calls for SUNSHINE! (more…)
Boston – where millennials cannot afford to buy a home
A recent Bloomberg article cited a study showing 13 cities where millennials cannot afford to buy a home. While Boston is not as a bad as some of California’s cities, it still ranked number 10 on the survey.
There is, of course, a solution for people who are being priced out of Boston (or who want to take their profits) – move to Marblehead, as many people are. (more…)
Saturday Open Houses
While Sunday remains the main day for Open Houses, there does seem to be a gradual increase in Saturday Open Houses, perhaps a reflection of a strong housing market. (more…)
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