Have Home Sales slowed?
Last week I published How quickly are houses selling? which showed that 88% of sales which closed in May received offers in 15 days or fewer.
But home sales are a lagging indicator, with May reported sales reflecting contracts agreed to for the most part in March. At the onset of COVID I started tracking the number of offers accepted on a weekly basis. This showed a sharp drop from mid-March 2020 which lasted only until early May, after which the number of accepted offers took off.
With all the publicity about the sharp jump in mortgage rates, the high level of inflation, concerns about a possible recession, etc. etc. one might have accepted to see a slow down in the number of accepted offers. This chart shows the weekly numbers YTD for 2021 and 2022: (more…)
New Listings mid-week June 8
A good number of New Listings again this week:
Click on these links for details: (more…)
Marblehead Facts and Figures Weekly Update
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How quickly are houses selling?
The following chart shows the percentage of sales each month where the offer was received in 15 days or less after listing:
Comment
Sales are a lagging indicator – May sales, for example, for the most part reflect sales agreed in March – but they do demonstrate the strength of demand – and the seasonality of the market in New England. I shall publish an article tomorrow showing the number of Accepted Offers week by week to show the level of current activity. (more…)
New Listings week ending June 3
We have seen a good flow of New Listings this week:
Click on these links for details: (more…)
Open Houses June 4/5
Here are this weekend’s Open Houses (an updated list will be published tomorrow at 8 a.m.):
Click on these links for details: (more…)
New Listings mid-week June 1
Here are the latest New Listings:
Click on these links for details: (more…)
June Housing Inventory: still way below 2020 levels
There has been a sharp increase in the number of properties for sale in the last three months, but while this takes inventory of SFHs above the year ago level, it remains well below that of 2020:
Single Family Homes
Condos
The number of Condos available has also jumped, but in this case still remains below year ago levels:
Open Houses weekend May 28/29
Here are this weekend’s Open Houses (an updated list will be published tomorrow at 8 a.m.):
Click on these links for details: (more…)
New Listings and Inventory week ending May 27
Here are the latest New Listings:
Click on these links for details: (more…)
New Listings mid-week May 25
Here are the latest New Listings:
Click on these links for details: (more…)
Free Property and Mortgage Fraud alert notification for homeowners
It has been reported by the FBI that one of the quickest growing white collar crimes in America is property and mortgage fraud. This happens when a person knowingly records a fraudulent document making it appear that they own another person’s property or that the owner owes them money.
Southern Essex’s state-of-the-art Property Watch Service allows you to view the document the same day it was recorded and print it at no cost.
How it works: (more…)
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