Tuesday, December 31, 2013

Coldwell Banker's Monthly Real Estate Report - Hamilton/Wenham, MA


Here's what's happening for home sales in our two towns.
#'s are from MLS on 12/26/2013 and reflect the last 30 days.

# of Sold Listings:
Hamilton - 13
Wenham - 4

Average Days on Market:
Hamilton - 121 days
Wenham - 148 days

Average Sale Price:
Hamilton - $537,462
Wenham - $582,100

Average List Price:
Hamilton - $565,823
Wenham - $623,475

Sales to List Price Ratio:
Hamilton - 95%
Wenham - 93%

Thinking about buying a home? Want to sell your current home? Got a real estate question? Call or text me!

Susan Hacker
susan.hacker@NEMoves.com
Coldwell Banker Residential Brokerage
50 Dodge Street
Beverly MA 01915
978.882.4742 direct line               


Click Here for a full market report!

Thursday, December 26, 2013

Coldwell Banker's Monthly Real Estate Report - Beverly, MA

50 Dodge Street, Beverly MA

Although Beverly is posting slightly lower numbers than November, this month continues to show signs of recovery.
  • # sold listings - 38

  • Ave Days on Market - 77

  • Ave Sales Price - $407,612

  • Ave List Price - $421,737

  • Sales Priced to List Price Ratio - 98%
*Information Courtesy of MLSPIN

Coldwell Banker Beverly is here for all your real estate needs. Whether you are buying or selling or have any real estate related questions, we are here to help you!

Colwell Banker - Beverly
50 Dodge Street
978-927-1111
Like us on Facebook: http://www.facebook.com/northshorecoldwellbanker

Monday, December 23, 2013

My Annual 10 Real Estate Predictions For The New Year



I ended my annual real estate predictions column last year with:
  • “2013 may be the BEST year ever to buy a home, with incredibly low interest rates and property prices just beginning to rise. Don't be one of those that in 2014 or 2015 say: "I remember when I could have bought that home for $X" or "I missed the opportunity of a lifetime in 2013."
As it turns out, that pretty much summed up the real estate market in 2013. Interest rates remained stable and prices began to rise as a result of low inventory. Do not despair, however…opportunity continues and in some ways will likely even improve in 2014. Here’s why:

1. As the real estate recovery continues, consumer optimism will continue to rise to its highest level in years. (or perhaps the other way around) This is the same optimism that has seen us through government shutdowns and near stagnation in Congress.

2. The housing recovery will result in some declining affordability. Buying a home will be costlier in 2014 than in 2013, the result of appreciating home prices and higher interest rates. The good news is, with higher inventories expected, prices will not rise at the same rate as last year which was clearly a “Seller’s Market”.

3. Interest rates will rise, as they have historically during recoveries. Expect to see rates at or slightly above 5% by year end.

4. Move-up buyers will take center stage. Last year was the year of the investor, those who realized the market had hit bottom and took advantage of prices and continued low rates. This year the market will be dominated by regular buyers.

5. The second home market will re-emerge in 2014. Investors (see #4 above) and vacation homebuyers, slightly behind the primary home market, will follow the trend.

6. Mortgages will be more readily available and attainable, as lending moves from the investor level back to the end-user level.

7. Prices that rose quickly last year in many areas will slow to a more moderate and sustainable pace. I predict home values will increase by about 3% in 2014.

8. 2014 will mark a change from 2013’s “year of low inventory” back to more normal market inventory levels.

9. As more homeowners return to positive equity levels, more homes will be placed on the market and foreclosures will continue to decline significantly.

10. New home construction will soar as developers who have been waiting on the sidelines, many with approved projects, begin to build again.

All in all, 2014 is shaping up to be a very good year for real estate. And that's a positive sign for our entire economy. Don't be caught waiting on the sidelines.

Best regards,

Jay Burnham, Premier Agent
Coldwell Banker Residential Brokerage, North Shore

Thursday, December 12, 2013

Beverly Historic Home Tour is a Success!

Hale House Decorated for the Historical Home Tour
The first Beverly Historical Home Tour, hosted by the Beverly Historical Society and Coldwell Banker Residential Brokerage was a success! The Historical Society and Coldwell Banker are grateful to the homeowners, volunteers and companies who supported this event.

The holiday tour included the historical society's own Hale House, as well as six privately owned homes in the downtown neighborhood. The homes represented a variety of styles and agents.

Tour attendees learned some historical facts about the homes through a beautifully crafted brochure and heard stories as told by homeowners and volunteers who helped bring the tour to life.

Overall the event was a huge hit and everyone is already looking forward to next year's Historical Home Tour!