MA condo supply: is it really only 1.8 months?
The Federal Reserve’s Beige Book report in July contained the following statement: “Massachusetts currently has only 1.8 months’ supply of condominiums available, compared with 6 to 7 months’ supply in a balanced market.”
Really? Wow. As I often point out, statistics are extremely useful if you know the context and can put the numbers into perspective. The above comment, however, does not explain the period being measured. As the months of supply figure is calculated by dividing the number of units currently for sale by sales in a given period, it is necessary to know what the given period is. (more…)
Foreclosure update: down but not out
What we mostly hear about these days are reports such as this Home prices surpass July 2006 peak from the National Association of Realtors.
We don’t hear as much about distressed sales – foreclosures and short sales – so I have looked at the trend since the beginning of 2014 in Essex County and Massachusetts as a whole, and then looked at the pattern since the foreclosure crisis really started in 2009.
The message from these numbers, which relate to Single Family Homes, is that while distressed sales have dropped sharply in the last 2-3 years, they still account for more than 1 in 20 of all sales in both Essex County and Massachusetts overall. (more…)
New Salem power plant:Construction underway
As this Old Salem power plant falls as new one rises Marblehead Reporter article points out, construction is well underway on the new, quick and clean, gas-fired Salem power plant, which will occupy just 24 of the 65 acre site.
Two of the three smokestacks of the old coal plant are already down and the last – and highest at 480 feet – will be coming down shortly. (more…)
Marblehead Greystone Classic Center Entrance Colonial
A rare gem will be coming to the market soon: a classic center entrance 3/4 bedroom Colonial in the much sought after Greystone area of Marblehead. Deck with hot tub and beach rights to Greystone Beach.
Great house, great neighborhood!
If you are interested please contact me and I will act as your buyer’s agent. (more…)
Marblehead beach makes Boston Globe list
Boston.com has published this list of 10 Beaches within an hour of Boston
This is what it says about Devereux Beach:
“Not far from Marblehead’s historic district is family-friendly Devereux Beach, which offers sandy slides and swings for the littlest of beachgoers. When hunger strikes, grab a lobster club sandwich and a frappe at Lime Rickey’s, not far from the surf. Parking costs $5 to $10 per car.” (more…)
Open Houses on July 19
Here are today’s Open Houses: (more…)
New listings in mid-July
Here are this week’s new listings: (more…)
But I thought you only wrote about Marblehead
Last night a friend, who lives in Swampscott, said when I told him I was publishing my Swampscott Mid-Year Housing Review “but I thought you only wrote about Marblehead.”
As I told my friend, I maintain statistics on all 34 Essex County cities and towns. While I publish regularly on Marblehead, Beverly, Salem and Swampscott individually, and Essex County overall, I monitor all towns – and not just in Essex County. I have provided market reports to buyers and sellers from Amesbury to Andover to Revere, as well as for Middlesex County. (more…)
Swampscott Mid-Year Housing Market Review
Inventory in the Single Family Home (SFH) in Swampscott remained well down on last year, while sales were slightly up. The outlook is for an increase, possibly a sharp one, in the median price in the second half of the year.
Median Prices
The median price for the first half of 2015 was $445,000, up 1% from $439,000 in 2014. (more…)
Salem MA Condo Open House bonanza
There are currently 103 condos for sale in Salem and 36 of them have Open Houses today in the following price ranges: (more…)
Real estate recovery is global, well except for the Ukraine
As reported by IMF Global Housing Watch global real estate prices increased 2.1% in 2014 to a six-year high. But not every country participated. The first chart shows the overall picture; the second shows the difference between recovering and rebounded markets. (more…)
Marblehead Mid-Year Housing Market Review
This article will review prices, sales and supply for the Single Family Home (SFH) market in Marblehead in the first half of 2015.
Median Prices
The median price for the first half of 2015 was $573,000, down 2% from $583,500 in 2014. Note, however, that while there was a drop in Q1, Q2 saw an increase. Read my First Quarter Review for the explanation behind the Q1 drop.
Source: MLS, Oliver Reports
Staging: don’t copy The Greenbrier
While I celebrated my 50th birthday at The Greenbrier, I fear that staging your house in Marblehead like these areas at the great resort would limit the number of buyers: (more…)
Marblehead: Birthplace of the American Navy
Read Marblehead Magazine’s Birthplace of the American Navy for the definitive history. (more…)
Why there are so few houses for sale
For the past two years the main story in the housing market has been the lack of inventory, of houses for sale.
But why is that? (more…)
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