Housing Inventory after Easter still low
It is quite common for houses to come to market right after Easter. Unfortunately – for the housing market at least – the date of Easter varies from year to year – rather like the weather. Easter was in late March in 2013 and 2016, April 20 in 2014 and April 5 last year. What this means is the inventory tables and charts below are post Easter for all except 2014.
Marblehead, Swampscott, Beverly and Salem
The biggest message from the tables below is that while inventory is flat to down compared with last year, there is a much larger drop compared with 2013 and 2014. These tables and charts show the numbers for each year and the change since 2013.
This week’s new listings
The second week after Easter has seen a similar number of new listings to last week. Read Housing inventory after Easter still low for an update on current inventory. (more…)
The sun is out in Marblehead
The sun is out so head out to see today’s Open Houses!
Today’s Open Houses after the snow stops
Well at least it’s not 1997 when we had 22 inches of snow on April 1, but it is still annoying! The good news for today’s Open Houses is that the snow is forecast to end by around 11 a.m. and the sun should reappear. (more…)
Homes are flying off the shelf
It seems that not only sellers. but also buyers, have been galvanized into action since Easter, and as a result homes are flying off the shelf. Yesterday I published New listings – what a difference a week makes, referring to the spike in new listings since Easter.
This article traces sales that have been agreed since Monday – and bear in mind that this is before today’s monster
Open House day – and compares those with the number of properties for sale at the beginning of the week.
MLS, Oliver Reports
Percentages can be high because inventory is low, but I find these numbers tell a compelling story of the pace of sales. And, of course, new inventory has come to the market this week and more will come next week.
One final set of numbers: of the 8 SFHs that received accepted offers in Marblehead this week, 4 received offers after being on the market just 1 day and 2 more after 3 days.
The message seems clear: buyers are out there, and a well-priced, attractive property will attract buyers quickly.
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 Which broker should 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
Open House TODAY. New Listing – Marblehead Old Town Antique
With winter weather due to return overnight, you may want to consider attending today’s first Open House at 59 Washington Street in Marblehead.
This Bright and sunny 1800 Antique Colonial is over 3,000 sf 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.
Open House today 12:00 – 2:00
Open House Sunday 11:30 – 1:00
Marblehead home prices set record in First Quarter
Marblehead home prices set a record in the first Quarter of 2016, with the median price of $660,000 equalling the record quarterly number in Q3 2015. But……the first quarter is almost always the lowest quarter in terms of the number of sales and, consequently, the quarter most likely to be distorted by the pattern of sales.
The goal of this blog is twofold: to report the numbers, and to interpret them. The second is the more important goal, since there are many, often automated, sources of bare bones numbers, but far fewer analyses and commentaries on the numbers.
Here is the breakdown for 2015 and 2016:
MLS, Oliver reports
And in chart form:
MLS,Oliver Reports
Commentary
In the first several months of 2015 the surprise, at least to me, was the lack of activity at the higher end in Marblehead. That changed as the year went on, and in Q1 2016 we are seeing some of that effect as sales agreed last year closed in this one. We have already had 3 sales over $3 million (1 over $4 million) and one just below that level.
As a market strengthens, so it is reasonable to expect that sales will move up into higher brackets. Note that sales between $750,000 and $1 million increased from 1 to 5, and that all sales over $750,000 doubled year over year.
While, because of the small number, I believe caution is needed as to the absolute number of the median price to start 2016, there is no doubt that the sales activity in Q1 is indicative of a healthy market. For the reasons I have mentioned it is quite likely that Q1 will see the highest median price for the year, something which last occurred in 2008 and we do not want to relive that year!
I have suggested before that 2016 may be the year when we see homeowners in Boston cashing in their profits and heading to the ‘burbs – and if you are going to move to the ‘burbs what better place to go than historic, idyllic (definition: peaceful, happy and enjoyable) Marblehead! Already this year a large percentage of buyers attending Open Houses are coming from Boston, suggesting that 2016 will be a good year for the real estate market here. (more…)
New listings – what a difference a week makes
There is a saying that a week is a long time in politics – well the same has been true in the real estate market locally. Last week I was lamenting the lack of sellers, but this post-Easter week has seen a flood of houses coming to the market. In total in the four towns below, there are 61 new listings this week, more than double last week’s number:
MLS, Oliver Reports
Marblehead new listings
Swampscott new listings
Salem new listings
Beverly new listings (more…)
Open Houses TODAY
As tomorrow is Easter Sunday, when Open Houses are generally not held, there are some taking place today: (more…)
New listings slow to a trickle
I suppose it is not surprising that new listings have slowed to a trickle ahead of Easter weekend, but the continuing low level of inventory is highlighted in Where have all the sellers gone? (more…)
Where have all the sellers gone?
I am sure I am not alone in expecting that housing inventory would be higher this (early) spring, given the mild winter and continuing low interest rates,but that has not happened. In this post I look at inventory for both Single Family Homes (SFH) and Condos for local towns, Essex County and Massachusetts.
Marblehead, Swampscott, Beverly and Salem
None of these markets has higher inventory than last year – the big snow year, remember? All are sharply down from 2013 and 2014.
Similar story for condos – look at the drop in Salem.
MLS, Oliver Reports
Essex County and Massachusetts
These don’t show well in a chart so here are the numbers, which show a similar, but less pronounced pattern.
Changes in inventory since 2013
The last two charts show the percentage decline in inventory since 2013.
MLS, Oliver Reports
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 Which broker should 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
Would you like red or white wine with your Texas mansion?
Everything’s bigger in Texas, including this 6,000 bottle wine cellar in a “Tuscan villa” in Texas which is being sold by auction soon:
The correct answer, of course, is champagne. here are a few appropriate ones from which to choose. (more…)
Broken link to Marblehead Oceanfront Open Houses fixed
Click on Marblehead Oceanfront Open Houses or from the original post.
My apologies for any inconvenience.
Today’s Open House list
No worries about tonight’s possible storm so head out to these Open Houses: (more…)
3 Marblehead Oceanfront Open Houses
It’s a great day to visit Marblehead and see these Marblehead Oceanfront Open Houses
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