Harvard Students share their Vision for Lynn
Students from the Harvard Graduate School of Design presented their semester-long group projects based on the theme of “Lynn: A Greater Gateway” at the Lynn Museum Thursday evening.
“We’ve been working with the city since January to think about what does it mean to be a gateway city,” project coordinator and Associate Professor Dan D’Oca said.
Each group looked at different topics, including economic development and transportation, and thought of how to tailor the city to recent immigrants.
Graduate student Aathira Pillai’s group proposed developing an app for the city’s residents.
“Individuals can come together on one platform [and] start pulling things in, that is where we propose ‘My Lynn’ app,” Pillai said.
The app would be able to function in whatever language the user needs, she said.
“Apart from helping you reach the critical resources that you might need, you might also walk around, scan through the app and get all the city posters, signs, instructions translated to something that you are comfortable with,” Pillai said.
Another proposal came from Briana Villavarde’s group, which focused on an urban heating resilience plan.
“What it really goes over is that technical solutions to urban heat are usually inequitably distributed throughout the city,” Villavarde said. “So how can community engagement, and local and oral knowledge from residents really make technical solutions more robust [in] addressing where heat is the most severe and really targeting vulnerable populations first.”
Through her research she found hot spots in the city, some of which are the General Electric plant, Market Basket, and downtown Lynn.
Other proposals discussed issues such as flooding, equitable development, and affordable housing.
Developer Charlie Patsios of Swampscott said he was “impressed” by the projects he saw from the students Thursday evening.
“What they’re doing is they’re envisioning everything, but they’re asking questions of me on what can happen, and what permission we can give them to let them look at all possibilities,” Patsios said.
“It’s been amazing, the students love the city,” D’Oca said. “Everybody we talked to has been really generous with their time and people have given us a lot of feedback. It’s a place that people really seem to love, we totally get why, and so we hope we did it justice with some of these recommendations we made.” (The Daily Item)
And these recent articles: (more…)
Lynn’s Housing Production Plan approved by State
The city’s new housing-production plan, Housing Lynn: A Plan for Inclusive Growth, has been approved by the Massachusetts Department of Community Development (DHCD).
The five-year plan was submitted to DHCD after it was approved by the City Council on Sept. 7 and the Planning Board on Oct. 12, after months of work and input with community members.
The approval allows the city to meet its affordable-housing needs, while also allowing for preferences in many state-housing grants and infrastructure programs.
The city has never had a comprehensive housing plan and now joins 168 other Massachusetts communities with approved housing-production plans that are making an effort to solve the state’s affordable-housing crisis.
Mayor Jared Nicholson said this approval by DHCD is another step in the right direction: “It continues the momentum that we have witnessed over the past few years during the development of the plan to address one of the top issues our residents face,” said Nicholson. “The preparation of the Housing Lynn plan relied heavily on feedback from Lynn residents and a detailed review of market conditions, and as we look towards the implementation of the recommendations, we expect that to continue. We know how important these recommended actions will be to supporting growth that benefits the whole city and the impact they can have for cost-burdened residents.” (more…)
New Listings mid-week March 24
Still a small number of new listings:
Click on these links for details:
Marblehead New Listings
Swampscott New Listings
Salem New Listings
Beverly New Listings
Lynn New Listings
These tables show that inventory is greatly reduced from a year ago, when levels were already low: (more…)
Lynn 2019 Housing Market Summary
[Click here to download a PDF of this report.]
Single Family Homes (SFH)
The median SFH price increased 9.2% to $385,000 in 2019, up from $352,500 in 2018, and up almost 30% since first reaching $300,000 in 2016.
Condos
The median sales price increased 12.4% to $281,000 from $249,900 in 2018, taking the gain to 44% since 2016.
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
www.TeamHarborside.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
$20,000 reduction on Lynn Condo: Open House Today
$20,000 price reduction! OPEN HOUSE TODAY 12:00-1:30 at 50 S Common Street #507 or contact Cynda Rohmer on 781.696.3646 or [email protected] for a private showing.
Come and see this top floor 2 bedroom, 2 full bath condo located in well maintained brick building with stackable washer dryer hook up in unit. Large spacious vaulted ceiling living room features a private balcony with ocean view that can also be accessed from large master with walk in closet and master bath.
Air conditioning was replaced in 2016. The building has a Community room and additional storage. Close to shopping, bank, City Hall, Square and Bus Lines. 10 min walk to MBTA central Square, commuter rail and North shore Community College. Enclosed parking garage space
Click Lynn Condo for more details and photos.
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
www.TeamHarborside.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
Lynn Q3 2019 Housing Market Summary
[Click Lynn Q3 2019 Housing Market Summary to download a copy of this report.]
Single Family Homes (SFH)
The median price of the SFHs sold in Lynn in the first 9 months of 2019 (YTD Q3) Q1 2019 increased nearly 8% from YTD 2018. Sales dropped slightly from last year’s record level but were in line with the 5-year average.
Condos
The median price of the condos sold YTD Q3 jumped 11.1% from a year ago, taking the increase to almost 50% over the last 4 years. Sales were steady with recent years.
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
www.TeamHarborside.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
Housing Supply by Price in North Shore Towns
Conventional wisdom is that a market is in equilibrium between buyers and sellers when the current inventory represents 6 months of sales. Currently, as shown in the tables below, the overall inventory of Single Family Homes (SFH) in the 34 cities and towns of Essex County represents just 3.1 months of supply, indicating that the market still favours sellers.
But overall numbers can disguise large differences in supply at different price points. The first table shows two supply numbers: in Marblehead, Swampscott and Beverly for prices under $750,000 and for prices above that level; in Salem, Lynn and Essex County overall the numbers are for prices under $500,000 and for prices about that level.
Notice how supply increases dramatically at higher price points. The following tables for individual towns break down that supply further.
Marblehead
The market comes into equilibrium above $600,000 and favours buyers above $1.5 million. Note that generally higher priced houses take longer to sell and also often see higher sales in summer months. (more…)
Housing Inventory by Price in North Shore towns
While conventional wisdom holds that a market is in equilibrium between buyers and sellers when the current inventory represents 6 months of sales, that overall number masks major differences which occur at different price points.
The tables below show the position by price for Essex County overall and for Marblehead, Swampscott, Salem, Beverly and Lynn.
Essex County
The table below breaks down supply at different price levels for Essex County overall.This shows that the dynamic between sellers and buyers changes as prices go above $750,000.
Lynn Q1 2019 Housing Market Report
[Click Lynn Q1 2019 Housing Market Report to download a copy of this report].
While the median price of Single Family Homes (SFH) sold in Q1 2019 increased nearly 8% compared with Q1 2018, it was only slightly higher than in the second half of 2018. Sales dropped slightly from last year’s record level. (more…)
Lynn 2018 Housing Market Review
The median price of Single Family Homes (SFH) sold in 2018 increased 5% to a new record, while sales dropped slightly.
Condos
The median price of condos sold in 2018 increased nearly 14% from 2017 on slightly lower sales. Lynn is seeing a wave of new construction and renovations, both of which have higher prices than older condos.
NB Numbers in bold represent record levels
Andrew Oliver
Realtor, Sagan Harborside
Sotheby’s International Realty
www.andrewJoliver.com
www.OliverReports.com
Tel: 617.834.8205
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Lynn Q3 2018 Report: Prices Continue Upwards
(Click here to download a copy of this report.)
The median price of the SFHs sold in the first 9 Months of 2018 increased a further 5% to a new high of $352,500. (Numbers in bold represent record levels.) (more…)
Housing inventory: what a difference price makes
Yesterday’s report Housing inventory: town by town guide showed that the overall supply of Single Family Homes (SFH) in Essex County was 2.8 months, whereas a market is regarded as being in equilibrium between buyers and sellers when there is 6 months of supply.
But as this report shows, an overall figure for supply can hide enormous variations at different price points. While it is natural that because there are fewer buyers at higher price points houses at these levels take longer to sell, this report quantifies the supply at different price levels in Marblehead, Swampscott, Salem, Beverly and Lynn.
Whether you are a buyer or a seller, it is important to understand the supply today at your price point. For further information, please contact your Sagan Harborside Sotheby’s International Realty agent.
Sagan Harborside Sotheby’s International Realty
www.SaganHarborside.com
Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty Affiliates LLC. Each Office Is Independently Owned and Operated
Lynn 2017 Housing Market Review
(Click here to download a pdf of this report.)
The median price of the SFHs sold in Lynn in 2017, after reaching $300,000 for the first time in 2016, increased by 11.7% to $335,000. This took the gain to over 40% since 2013. Sales continued their recent climb and were within a whisker of the record set in 2004.
There has been a dramatic change in the number of houses sold at lower prices, with the number under $200,000 dropping from 91 in 2015 to just 25 last year. There was also a big drop last year in sales under $300,000 and a jump in sales above that figure, all evidence of quite rapidly rising prices.
Condos
A 12.5% increase in the median price saw it break through $200,000 for the first time, finally eclipsing the 2006 peak. The gain occurred in the second half of the year. Sales maintained the 2016 pace but remain well below the 2004 level.
Sales under $200,000 have declined while there has been a sharp increase in sales over $400,000.
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 Andrew Oliver on 617.834.8205 or Kathleen Murphy on 603.498.6817.
If you are looking to buy, we will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver and Kathleen Murphy are Realtors with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
Essex County Condo Market: very little supply at lower prices
This report compares the supply of condos available for sale now compared with the last two years in Essex County overall, together with the individual markets of Salem, Beverly and Lynn, the three largest condo towns nearby. Because sales are not always reported promptly in MLS, my reports on median prices in these markets will be published next week.
Essex County
The number of condos for sale throughout the 34 cities and towns of Essex County has dropped by 25% over the last year and by one-third compared with 2015. As we shall see – and as one would expect – the drop in supply is most marked at lower prices.
Source: MLS, Oliver Reports
The number of condos for sale under $250,000 has plunged over the last two years from 280 to 179 to just 107. There has been a smaller drop in the $250-350,000 range, and above that the numbers are fairly flat.
Salem
The Salem condo market continues to be very active, while the number of condos for sale has dropped 60% over the last two years.
The story by price mirrors that of Essex County overall: a huge drop under $250,000; a large drop in the $250-350,000 range; and stable above that price. And there is activity at the higher prices: through 9 months Salem saw 101 condo sales above $350,000, yet there are currently just 12 for sale.
Beverly
The statistics for the condo market in Beverly are slewed by the 73 condos at Elliott Landing which came to the market starting in the spring of 2016. Now that these have been sold, the number of condos for sale has dropped back sharply.
Because of the impact of Elliott Landing, where condos sold for between $330,000 and $800,000, it is more relevant to compare today’s inventory with that of two years ago. We see that there are almost no condos under $250,000 and a small increase in the $250-350,000 range.
Lynn
The number of condos for sale in Lynn has also dropped sharply over the last two years.
The median price of the condos sold in Lynn has been close to – but never exceeded – $200,000. Until 2017, when the median price for the first 9 months reached $220,000. There are currently just 9 condos for sale in Lynn below $200,000 – down from 37 two years ago.
Comment
Further comment seems almost superfluous: the condo market in Essex County has been extremely active. Low supply and continued strong demand inevitably lead to higher prices. Preliminary numbers show that the median price throughout Essex County increased 10% in the first 9 months of the year. Check back for the full report next week.
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 are looking to buy, I will contact you immediately when a house that meets your needs is available. In this market you need to have somebody looking after your interests.
Are you thinking about selling? Read Which broker should I choose to sell my house?
Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated
@OliverReports
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