Swampscott Mid-Year Market Report
The median price of Single Family Homes (SFH) sold in the first half of 2021 (H1 2021) increased 16.5% from $592,500 to $690,000, while sales increased from 59 to 68, exactly in line with the 5-year pre-COVID average.
Following 2 SFH sales over $2 million in H2 2020, there were 3 such sales in H1 2021. 3 out of 4 SFH sales took place over list price, with 28% of all sales (compared with 11% in H1 2020) at 110% or more of list. (more…)
New Listings week ending July 16
Here are the latest New Listings:
Click on these links for details: (more…)
Open Houses weekend July 17/18
More Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days so not show up in both days’ lists but do if you click on the individual properties. I will publish Sunday’s tomorrow at 8 a.m.
Click on these links for details: (more…)
Is Inventory picking up at last?
There have been reports – including this chart from the Federal Reserve Bank of St. Louis – that housing inventory is finally increasing:
Has Inventory picked up recently in Essex County?
At first blush the answer may appear to be yes – note the sharp increase since the beginning of July: (more…)
New Listings on Bastille Day
Here are the latest New Listings as of Bastille Day:
Click these links for details: (more…)
Adjustable-Rate Mortgages Staging a Comeback
Applications for Adjustable-rate mortgages (ARMs) increased 12.5% year-to-year for the week ending June 18, according to the Mortgage Bankers Association (MBA), as the discount from the 30-year FRM has widened in recent weeks.
ARMs dropped in popularity after the 2008 financial crisis, but they are starting to reemerge as buyers contend with record high home prices. “The epic surge in home prices has people looking to save money on monthly payments anywhere they can,” says Matt Graham, chief of operations at Mortgage News Daily.
Source: Freddie Mac
New Listings week ending July 9
A few more New Listings after July Fourth:
Click on these links for details: (more…)
Open Houses weekend July 10/11
More Open Houses this weekend. Because of the quirks of MLS properties with OH’s both days so not show up in both days’ lists but do if you click on the individual properties. I will publish Sunday’s tomorrow at 8 a.m.
Click on these links for details: (more…)
$22 million House for sale in Beverly
A $22 million mansion has just hit the market in Beverly, listed by Douglas Elliman Real Estate. Built in the Georgian Revival style, the home boasts 28,000+/- square feet of beautifully appointed living space, with 11 bedrooms and 12 baths and sits on more than three meticulously landscaped, park-like acres.
Click $22 million listing and call to arrange a showing. (more…)
Manhattan real estate prices reach record as buying ‘frenzy’ takes hold
Manhattan real estate prices reached an all-time high in the second quarter, as buyers returned to the city and boosted demand for the largest, most expensive apartments, according to new reports.
The median resale price for Manhattan apartments hit $999,000 in the second quarter — the highest on record, according to a report from Douglas Elliman and Miller Samuel. Average sale prices rose 12% in the quarter, topping $1.9 million.
The price jumps and shrinking inventory suggest the Manhattan real estate rebound continues to gain momentum, as more families look to trade up to larger apartments and buyers look to take advantage of lower prices and low mortgage rates.
“It’s a sign of the frenzy and intensity of the market,” said Jonathan Miller, CEO of real estate appraisal firm Miller Samuel. “It’s rebounding much faster than most participants expected.” (more…)
New Listings before July 4
Just a handful of New Listings before the Fourth:
Click on these links for details: (more…)
Open Houses July 4 weekend
Just a few Open Houses this weekend, mostly today. The only ones scheduled for Sunday are 420 Atlantic Avenue in Marblehead and 15 Spring Road in Lynn, both of which also have Open Houses today,
Click on these links for details: (more…)
Housing Inventory little changed in July
Housing inventory for the 34 cities and towns of Essex County in pictures. Note that not only are numbers low but that there was no pick-up in the spring/summer market:
Single Family Homes
Condos (more…)
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