Housing Inventory still down heading to July 4
As we head towards July 4th, often the target date for home buyers wanting to be in their new homes for the start of the school year, housing inventory remains well down from a year ago. (more…)
Marblehead pace of accepted offers doubles
I have been looking at accepted offers and this is what I have discovered for Marblehead this year vs last year:
Source: MLS, Oliver Reports
Marblehead: sales jumping, inventory plunging
Since May 15, 23 Single Family Homes (SFH) have received an offer in Marblehead, while there are currently just 67 SFHs for sale, compared with 116 a year ago at this time, a decline of over 40%. But the position for buyers may be even worse than it appears.
One of the numbers I follow is the number of days a property has been on the market (DOM). Last year MLS introduced a new measure, Days to Offer (DTO), which – yes- the number of days a property is on the market before it receives an accepted offer.
A house receives the greatest attention, from both buyers and agents, when it first comes on the market, but as time moves on the listing becomes stale. In an active market such as exists now, a property sees the most activity and interest in the first 30 days.
With that in mind, let’s look at three categories: current inventory, pending sales and sales so far in 2015. In each case I will show a pie chart of the overall picture (at the end of the article are tables showing the breakdown by price band). I’ll summarize and add my conclusions after the charts.
Current Inventory (more…)
Marblehead vs Swampscott
On BostonGlobe.com under Lifestyle, Real Estate, there is a tool to allow the reader to compare two towns. Here is a link to Marblehead vs Swampscott;
The most notable comparisons: (more…)
4 reasons home prices will keep going up
Here are 4 reasons home prices will continue to increase over the longer term: (more…)
Million Dollar home sales picking up
Million dollar home sales were flat in the first four months of 2015 compared with 2014, but both years showed a strong increase over 2013.
But the pace of million dollar sales is picking up with 74 pending* sales currently. As usual, Marblehead leads the way: (more…)
Marblehead’s incredible booming market, according to Trulia
I suspect that one day Trulia will get access to accurate information about the Marblehead market and when that happens my fun will come to an end.
Meanwhile….
Source: Trulia
Wow! (more…)
What’s happening – or not – in the Marblehead market?
I am always cautious about reading too much into short-term trends, especially in a market like Marblehead with a small number of sales, but at the same time I do try to report on current market conditions.
And I am puzzled by what has been happening over the last 2-3 weeks – or rather by what has not been happening. And that is houses receiving accepted offers. (more…)
Essex County housing inventory: worse than you think
After my article yesterday Marblehead inventory:even worse than you think I have looked at Essex County overall.
There are currently 1352 Single Family Homes (SFH) for sale in Essex County, down nearly 20% compared from 1660 a year ago at this time. But the position for buyers is even worse than it appears.
Buy or rent? It’s NOT just a financial decision
OK, be warned, I am about to get on my soapbox.
Below I post a link to a recent Boston Herald article quoting a Zillow study comparing the costs of buying vs renting in different cities in the US and in different neighborhoods around Boston and Cambridge.
It’s not that I do no think article like this have some value. They do, encouraging people to think about how long they will stay in a house before making a major financial decision.
No, my problem with articles such as this is that they focus only on the financial aspect of buying a home. (more…)
Trulia vs MLS statistics on Marblehead
I have reported before on my puzzlement as to where Trulia gets its statistics on Marblehead. This is what I received by email today: (more…)
What does $4 million buy in and around Boston?
A prospective buyer looked at a $4 million listing in Marblehead recently and commented: “this house would sell for $18 million in the Hamptons.”
Well we’re not in the Hamptons, Dorothy, but it was an interesting comment and led me to look at what a paltry $4 million would buy today in different areas in and around Boston. The table below is in four sections: the North Shore, towns close to Boston, and then Boston SFHS and Boston condos: (more…)
The Best Streets in Greater Boston – really?
One of real estate’s fascinations is that it is subjective: what I love you may hate and vice versa. So it should come as no surprise that I might differ on the pick for the Best Street in Marblehead. I accept the words of the writer that Atlantic Avenue is three miles long, but the Best Street in Marblehead?
Beverly, Salem and Swampscott Housing Market Reports
In the world of small numbers it is necessary to be cautious about drawing too many conclusions. That is why, for example, I am not including percentage changes for the tables below. The message I take from these numbers is that, in general, the market continues to progress in an orderly manner. (more…)
Marblehead First Quarter Housing Market
It’s over. We survived. Hallelujah!
So how was the housing market in Marblehead? First Single family Homes (SFHs):
Source: MLS, Oliver Reports
Wait a minute. The median price dropped almost $50,000? What’s going on? (more…)
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