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Marblehead Home Sales on the Rise

There were 23 home sales in April compared to 20 in April 2012.

Marblehead single-family home sales continue to outpace last year’s numbers and sale prices are slightly higher than 2013

Marblehead saw 23 home sales in April compared to 20 in April 2012. So far in 2013, there have been 56 home sales in Marblehead, which is an increase from 50 over the first four months of 2012. (See how Marblehead compares to Essex County and the commonwealth on the chart at the bottom of the article.)

“While the lack of homes to buy over the past several months kept closed sales down, the surge in the number of new listings to hit the market in April is an optimistic sign,” said 2013 Massachusetts Association of Realtors President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree. “With home prices improving, sellers are finally gaining the confidence they need to list their home. This should help move us closer to a more balanced market.”

Single-family home sales dropped slightly in Massachusetts in April compared to a year ago and the median home price increased for the seventh consecutive month, according to The Warren Group, publisher of Banker & Tradesman.

"The housing market continues to improve, but could be hindered if rising prices cause an affordability issue. Three consecutive months of double digit price increases is slightly concerning," said Timothy M. Warren Jr., CEO of The Warren Group.

"There is high demand and low inventory this spring, which is causing this pattern of rising prices and dropping sales volume," said Warren. "Despite the news that sales volume is down, low mortgage rates and steady home values are helping buoy consumer confidence." 

Other statewide numbers:

  • There were 3,504 single-family home sales in April, a decrease of 1 percent from April 2012. This is the third consecutive month that there has been a year-over-year decrease, according to The Warren Group.
  • Home sales were down nearly 3 percent after the first four months of the year when compared to 2012.
  • Single-family median prices rose almost 14 percent in April compared to a year ago. It’s the seventh consecutive month that the median price increased in Massachusetts.
  • April was the 13th straight month of housing inventory decreases, according to MAR. On the other hand, new listings increased nearly 13 percent compared to a year ago. April saw the most new listings in three years.
  • Detached single-family homes stayed on the market an average of 110 days in April 2013 compared to 126 days in April 2012, according to MAR.

How Marblehead stacks up
Here is how Marblehead compares to the rest of Essex County and the commonwealth: 

Marblehead 2012 2013 Change April sales 20 23 15% Year to date sales 50 56 12% April median sale price $411,500 $449,500 9.23% YTD median sale price $466,250 $468,000 .38% ESSEX COUNTY 2012 2013 Change April sales 383 415 8.36% Year to date sales 1,209 1,219 0.83% April median sale price $295,000 $349,000 18.31% YTD median sale price $292,500 $315,000 7.69% MASSACHUSETTS 2012 2013 Change April sales 3,541 3,504 -1.04% Year to date sales 11,558 11,244 -2.72% April median sale price $275,000 $313,000 13.82% YTD median sale price $264,000 $294,000 11.36%

Source: The Warren Group

John Buba May 29, 2013 at 06:51 PM
Two things to consider: 1) Who are buying these homes? In other parts of the country people are getting out of the stock market and buying real-estate to rent as an investment. Is that happening here? If so then this uptick is artificial as it is in many other parts of the country. 2) While an increase of two more homes sold in April amounts to a 15% change these numbers are hardly overwhelming. Secondly instead of comparing to last year, which was terrible and bound to improve, let's compare prices today as compared to the high price at the height of the boom. Methinks we are still a long ways away from those prices.

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