Buyer or Seller’s Market?

It’s not as simple as “it’s a seller’s market” or “it’s a buyer’s market”. Different price ranges, property types and towns all have their own special niches of volatility. Or they don’t.
Real estate is very localized.
That’s one reason we love to look at the “on market snapshot”: it shows how the price bands of available condos and single family properties in Gloucester and Rockport are faring.
You’ll find an “on market snapshot” in the Cape Ann Waterfront Guide.

Click here to sign up and receive your copy of the Cape Ann Waterfront Guide.

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We hope this helps.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

Looking for a deal on a condo? Go to Boston.

If you want to see some really basic Boston market statistics, click here.

Suffice to say I’m glad I’m not trying to sell a $1M-$2M condo because there are 45% more condos on the Boston market right now than there were last year.

But if you’re thinking about buying in Boston, that’s a different story. It’s an “opportunity” if you can ride out:

  • the disposition of the virus
  • the stock market fluctuation
  • the upcoming election

How’s our market on Cape Ann? The polar opposite.

If you’re curious about which Gloucester and Rockport homes and condos are for sale, this is an easy way to find out. In the Cape Ann Waterfront Guide, you’ll receive up-to-the-minute information on pricing, size, bedrooms, “the works”, all via email.

 

Click here to sign up and receive your copy of the Cape Ann Waterfront Guide.

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Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

What’s selling in Gloucester and Rockport?

If you’re curious about which Gloucester and Rockport homes and condos are for sale, this is an easy way to find out. In the Cape Ann Waterfront Guide, you’ll receive up-to-the-minute information on pricing, size, bedrooms, “the works”, all via email.

 

Click here to sign up and receive your copy of the Cape Ann Waterfront Guide.

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Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

Who’s market is it? Seller’s or Buyer’s?

It’s not as simple as “it’s a seller’s market” or “it’s a buyer’s market”. Different price ranges, property types and towns all have their own special niches of volatility. Or they don’t.
Real estate is very localized.
That’s one reason we love to look at the “on market snapshot”: it shows how the price bands of available condos and single family properties in Gloucester and Rockport are faring.
You’ll find an “on market snapshot” in the Guide.

 

Click here to sign up and receive your copy of the Cape Ann Waterfront Guide.

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We hope this helps.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

2020 Q1&2: Real Estate Sales Update

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Our advice is about the same:
  • If you want to buy on Cape Ann, be ready to execute quickly and anticipate competition.
  • If you are thinking about selling, getting on the market now until Halloween will maximize your ROI.
  • If you want to sell but are concerned about finding a new home that makes sense, just rent one. There will be purchase “opportunities” in the future.

(PS: NOW would be a good time to buy in Boston.)

We hope this helps.
Bob, Sue and Kenny
PS: Please let us know if you’d like to talk about a “living on Cape Ann” strategy.
PPS: If you’re already here and need help with a project (painting, plumbing, architecting, Title 5ing, etc), get in touch. We know all kinds of people that can help! We can talk, conference or zoom easily and confidentially. 978-758-0983
PPPs: If you want a more specific data analysis, all you have to do is email us.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

The Surge: Glou/Rkpt Real Estate Update

Here’s the just-past-mid-June synopsis of Gloucester single family homes for sale:
  • For sale now: 36
  • Last year: 63
  • Biggest shift $1M-$2M. Now: 6. Last year: 16.
Rockport synopsis:
  • For sale now: 23
  • Last year: 39
  • Biggest shift $700K- $1M. Now: 6. Last year: 15.
Big picture Rockport, Gloucester, Manchester, Beverly, Essex:
  • For sale now: 119
  • Last year: 197
  • Biggest shift is in $2M-$3M. Now: 7. Last year: 24.
The short story?
  • Everything is selling.
  • The only bargains are properties on the market for 5 months or more.
  • This won’t last forever.

Our advice: 

  • If you have to buy, expect to pay asking price.
  • If you don’t have to buy, don’t buy.
  • If you are thinking about selling, now’s the time (and if you can’t find a new home, rent and wait. Prices will come down.)
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We hope this helps.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International

The Surge: June 2020 Real Estate

The short story: There’s a lot less to chose from. Inventory is still 40% lower than last year even though it’s up 22% in the last 2 months. But just about everything is selling.

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Click the image for the report you want. Both are free downloads, no sign-up required.

We hope this helps.
Bob and Sue McDermott • Kenny MacCarthy • Gibson Sotheby’s International