More $3 million home sales
This boston.com article $3 million home sales refers to 6 sales over $3 million that occurred this week – in Boston and Weston.
After a pause, Marblehead saw a listing above $3 million receive an offer recently, so it seems that buyers are out there at the higher levels. Here’s one Marblehead oceanfront property still available 11 Crown Way.
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
Housing supply even tighter than a year ago
The supply of houses and condos for sale in North Shore towns, as well as throughout Essex County and Massachusetts, is down from last year’s levels – which were themselves low.
Housing markets are generally regarded as being in equilibrium between sellers and buyers when the supply of houses for sale is equal to the number that would be sold in 6 months. So a housing supply of 6 months represents equilibrium; more than 6 months means the supply is high enough to favor buyers; less than 6 months the lack of supply favors sellers – what is known as a sellers’ market.
The following tables show the numbers for 2016 in the left column and 2015 in the right one.
Single Family Homes (SFH)
Overall supply in both Essex County and Massachusetts is less than 4 months and down from a year go. In individual towns, only Marblehead has a slight increase in supply, but the number remains below 6 months:
Condos
The condo market is even tighter with supply of less than 3 months in Essex County and Massachusetts, and all areas showing a decline from this time a year ago.
Source: MLS, Oliver Reports
Comment
This analysis shows the overall markets. There will be differences at differing price points, but because higher-priced houses usually take longer to sell, that means supply at the lower prices is even less than shown.
The housing market here may not be crazy, but clearly there is less supply than buyers would like.
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
Marblehead beach house – 1st Open House TODAY
Newly listed Marblehead beach house – first Open House TODAY 1-3. Beat the Sunday rush!
Click 46 Gallison Avenue for details.
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
This week’s new listings
Some pick up in Salem new listings this week:
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.
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
Perfect Marblehead beach house for sale
Time to think of that perfect Marblehead beach house, as the weather brightens on Memorial Day. I will be listing this house tomorrow. Contact me for details.
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
Perfect Marblehead beach house for sale
On a dreary Memorial Day, look forward to summer at this Marblehead beach house, which I will be listing this week.
Contact me for details.
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
Open Houses May 29
There are fewer than normal Open Houses today but still a good selection:
Source:andrewjoliver.com
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.
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 this week
Ahead of Memorial Day, new listings dropped sharply this week:
Source: andrewjoliver.com
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.
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 Coastal Scenic Byway: Marblehead
You may have noticed these Essex Coastal Scenic Byway signs which have appeared around town recently:
This initiative was led by Essex Heritage and this is the description from its website: (more…)
How much do you need to earn to afford to rent a 2 bed apartment?
A new report by the National Low Income Housing Coalition finds that it is getting harder and harder for average Americans to afford a modest rental.
In 2016, a worker would need to make $20.30 per hour to rent a two-bedroom accommodation comfortably—without devoting more than 30 percent of income on housing costs. Last year, NLIHC pegged this “housing wage” at $19.35 per hour. The actual average hourly wage is $15.42.
The report highlights the difference in each State between the actual hourly earnings and that needed to afford a 2 bed rental.
This is the summary for Massachusetts: (more…)
Today’s Open Houses
It’s not beach weather today so head out to see these Open Houses: (more…)
Millennials heading to the suburbs
While popular belief is that cities have been the beneficiaries of a population shift in recent years, a recent US Census report showed that the share of population growth of the top 50 cities in the US slowed in 2015 to 20%, down from almost 27% in 2011, and has dropped each year since then. It appears in fact, as though millennials are heading to the suburbs. (more…)
What’s the current supply of houses for sale locally?
This report sets out to analyze the current supply of houses for sale in Marblehead, Swampscott and Salem.
Single Family Homes (SFH)
First, let’s look at sales so far this year to May 20. The pace of sales is slower in winter so these numbers overstate the supply. Bear in mind that a market is generally regarded as being in equilibrium between buyers and sellers when there is 6 months of supply.
Next I looked at recent activity, namely the number of SFHs which had offers accepted since the beginning of April and compared that with current supply. April, May and June are generally the three largest months for accepted offers in these markets, so these numbers may slightly understate supply going forward, but they provide a stark indication of how little supply there is today, especially in Swampscott and Salem:
Source: MLS, Oliver Reports
Condos
While sales numbers for SFHs are similar for the three towns, they are very different for condos, where only Salem has a large market. Thus the supply number for Salem is more significant than for the other towns:
Turning to accepted offers since the beginning of April, the supply drops sharply in all markets. Note that in Salem there have been 47 accepted offers so far in May alone and there are just 61 for sale.
Source: MLS, Oliver Reports
Comment
This report quantifies just how short of supply the market is, especially in Swampscott and Salem. And bear in mind that these numbers are for the total market; at lower prices there is even less supply, as higher priced properties generally take longer to sell.
The supply numbers are somewhat better in Marblehead where there is some evidence that list prices of SFHs have increased this year, possibly in advance of the market.
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
New listings picking up steam in Marblehead
New listings are picking up steam in Marblehead with 30 new SFHs coming to market in the last two weeks. Elsewhere, the new supply has been steadier, although Swampscott did have an upward blip last week: (more…)
Baseball returns to Marblehead TODAY
This Saturday at 5 p.m., baseball returns to Marblehead when the Seasiders — a new addition to Marblehead’s long tradition in the North Shore Baseball League — open their season at historic Seaside Park. (more…)
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