Here is a chart of the Price per Square Foot of the Oceanfront properties which have sold in Marblehead since 2015, have a sale pending or are currently for sale. Note that the PSF is based on sold prices where appropriate and list prices where the sale has not yet occurred.
The pending auction sale of a Marblehead Oceanfront property (click 11 Crown Way auction for details) has generated a lot of interest in and enquiries about the auction process, something which in many countries is common, especially for higher end properties.
In the US property auctions used to be associated with distressed sales, but they are an increasingly active part of the real estate market. And they are more common than you might at first think. (more…)