Marblehead sets record for sales over $3 million
After lagging for some time Marblehead set record sales over $3 million, in terms of offers received, in 2015. Indeed, with a further accepted offer this week, we have now seen 6 consecutive months with a sale of a property listed at over $3 million.
I have written several times about the puzzlement that many real estate agents have felt about slow pace of sales at the top end. Last September I wrote Time to buy that Oceanfront property? and included the comment: “Both the stock market and Boston condos have enjoyed a great run in prices in the last few years. One area that has not participated in the recent upturn, however, has been oceanfront property on the North Shore. Maybe Boston condo owners should be asking whether now is time to buy that oceanfront property.”
Since that article was published last September 5 houses in Marblehead on the water have received offers, so I guess at least some Boston condo owners have decided that the answer to my question is YES. (more…)
More sales in Marblehead’s higher end
Many of us were surprised that the higher end did not see more activity throughout 2015, but there was clear evidence of a pick up as the year progressed.
In the last 4 months of the year there were 2 sales over $4 million and 1 over $3 million. 3 sales over $3 million in one year may not sound a lot compared with, say, Boston condo sales at 22 Liberty, but 4 is the most we have had in one year. And a further sale above $4 million closed this week, while there are two more pending sales in the mid to high $3 million range.
Pictured below is 11 Crown Way which has an Open House this Sunday from 12:00 – 2:00.
In my Marblehead 2015 Housing Market Review I commented: “after 9 months it looked as though we were going to see a median price for the year well over $600,000, but sales in the last quarter were skewed to the lower end.”
Since the beginning of December, however, sales have moved to the higher end. Of the 14 offers accepted since then, 1 was listed over $3 million, 2 between $1.5 and $2 million, 3 from $1-1.5 million, and one more at just under $1 million.
Maybe my expectation for activity at the higher end in Marblehead in 2015 was just a case of being a year early. The evidence of recent months suggest that 2016 may be the year when the higher end really does see the increased activity I have been expecting for a while. (more…)
Marblehead’s Unknown Oceanfront Properties update
A while back I published Marblehead’s Unknown Oceanfront Properties, referring to houses on or oceanside of Atlantic Avenue between Preston Beach and Beach Street.
In that article I pointed out that: “there are a lot of small streets that lead to the water and have 1 or 2 or maybe 3 or 4 houses sitting directly on the ocean at the end. And for the most part these houses sit on the rocky Atlantic coast and are high enough that flooding is not a concern, while many of them face South, have great views of Ram Island and down the coastline, and are well protected from the nor’easters that can impact more exposed areas.”
This section of Marblehead is seeing price appreciation as evidenced by the number of properties with Assessed Values over $2 million. That number was 29 in 2014, 32 in 2015 and has now jumped to 44 in the recently released assessments for 2016.
How much longer will this area be a secret I wonder?
There are two Open Houses today of oceanfront property in this stretch of town:
11 Crown Way from 12:00-2:00
and 2-4 Coolidge Road from 12:00-1:30
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or [email protected].
Read Which broker will actually sell my house?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.
@OliverReports
3 Oceanfront Open houses in Marblehead’s secret neighborhood
Recently I wrote about Marblehead’s Unknown Oceanfront properties in the stretch from Preston Beach to Beach Street.
Today there are 3 Oceanfront Open Houses in this area. They are:
2-4 Coolidge Road, listed at $3.2 million and open from 11:30 – 1:00
11 Crown Way, listed at $3.5 million and open from 12:00 – 2:00
and 40 Ticehurst Lane, listed at $2.26 million and open from 1:00 – 2:30.
If you are in the market for an oceanfront property maybe it’s Time to think outside Marblehead Neck. (more…)
Saturday Marblehead Open Houses
Open Houses are usually held on Sundays but this week there are 4 Saturday Marblehead Open Houses.
Note that both the Harborside Sotheby’s International Realty oceanfront properties in Clifton Heights/Greystone are open today from 1:30 -3:00.
Click 11 Crown Way and 2-4 Coolidge Rd for details. (more…)
Marblehead’s Unknown Oceanfront properties
A man came to the Open House at 11 Crown Way last weekend and commented that he had driven up and down Atlantic Avenue for years and had no idea that there were oceanfront houses at the end of the streets between Preston Beach and Beach Street. This area does indeed contain Marblehead’s Unknown Oceanfront properties.
Last year in an article Marblehead sale over $4 million – guess where? I wrote this:
“There are a lot of small streets that lead to the water and have 1 or 2 or maybe 3 or 4 houses sitting directly on the ocean at the end.
And for the most part these houses sit on the rocky Atlantic coast and are high enough that flooding is not a concern, while many of them face South, have great views of Ram Island and down the coastline, and are well protected from the nor’easters that can impact more exposed areas.”
One of the houses mentioned in last year’s article has sold; the other, 11 Crown Way, has just come back onto the market. And this week another, at 2-4 Coolidge Road was listed for sale at $3.2 million.
How many houses with an Assessed Value over $2 million are there in this stretch?
Last year I identified 29 houses with an AV of $2 million or more and this year I have found 32. I also know that AVs for this area are increasing and I would not be surprised to find another 6-7 creep over $2 million when assessments are announced in December.
People who live in this area know its attractions, which may be why houses rarely come on the market. There are two now – both listed by Harborside Sotheby’s International Realty – so take a look if you want a protected oceanfront property in a great neighborhood.
There is an Open House this Sunday at 11 Crown Way from 1:00-3:00.
If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or [email protected].
Read Which broker will sell my home?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
You can REGISTER to receive email alerts of new posts on the right hand side of the home page at www.OliverReports.com.
@OliverReports
Marblehead Oceanfront new listing
Check out this Marblehead Oceanfront which I have listed this week. There is an Open House tomorrow 12:00 – 2:30.
The main house is 6,126 sf with 7 bedrooms and 4 1/2 baths.
The 2,400 sf carriage house is perched directly on the water’s edge and houses the pool house and separate apartment, whose huge picture window frames Ram Island perfectly. There are plans to convert the additional carriage house space to a 4-car garage.
A private mooring is available.
Time to buy that oceanfront property?
Both the stock market and Boston condos have enjoyed a great run in prices in the last few years, in part due to the policy of keeping interest rates extremely low. One area that has not participated in the recent upturn, however, has been oceanfront property on the North Shore. Maybe Boston condo owners should be asking whether now is time to buy that oceanfront property. (more…)
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