Swampscott Q3 2021 Market Report

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Key Metrics
Swampscott Housing Market

Single Family Homes (SFH)

The median price of the SFHs sold in Swampscott in the 9 months of 2021(YTD Q3 2021) jumped 15.8% to $717,500 on steady sales.

As the percentage of sales over $750,000 doubled from 23% YTD in 2020 to 47% 2021, so the median price moved from just over $600,000 in 2020 to over $700,000 in 2021. Sales over $1 million doubled from 6 to 13.

71% of SFH sales took place over list price (vs 60% in 2020), with 29% of all sales (compared with 11% in 2020) at 110% or more of list.

Swampscott property market

Condos
The median price of the Condos sold in Swampscott YTD 2021 decreased 7.1% to $401,000. The 11 sales at Fisherman’s Watch added $36,500 to the median price YTD in 2020. 56% of sales in 2021 were over list (vs 19% in 2020) with 7% at 110% or more (vs 2%).

 

Comment
In the first 9 months of the year the median price of SFHs sold in Essex County increased 14.2% to $609,000, while the median Condo price increased 10.2% to $385,000.
The median SFH price in Essex County declined from Q2 to Q3 (but not in Swampscott), while the median Condo price increased slightly. While quarter to quarter fluctuations are common, these numbers confirm the anecdotal reports that the frenetic activity earlier in the year eased somewhat in Q3.

After a short rally above 3% early in the year, the national average cost of a 30-year Fixed-Rate Mortgage (FRM) quickly dropped back below 3% before rallying back to 3% in October.

Source: MLSPIN, OliverReportsMA.com

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If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, please contact me on 617.834.8205 or [email protected].

“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of Oliver Reports . He’s assembled the most comprehensive analysis of Essex County we know of with market data and trends going back decades. It’s a great starting point for those looking in the towns of Marblehead, Sale, Beverly, Lynn and Swampscott.”

Andrew Oliver
Market Analyst | Team Harborside | teamharborside.com
REALTOR®

Sagan Harborside Sotheby’s International Realty
One Essex Street | Marblehead, MA 01945
m 617.834.8205

www.OliverReports.com
[email protected]

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated

Andrew Oliver
Sales Associate | Market Analyst | DomainRealty.com
REALTOR®

Naples, Bonita Springs and Fort Myers
[email protected]
m. 617.834.8205

www.AndrewOliverRealtor.com

www.OliverReportsFL</s