Swampscott housing market steady in 2014; condo sales explode

Here are the highlights of the market in Swampscott in 2014.

Single Family Homes (SFH)
– the median price eased 0.5% to $440,000, still down 15% from the 2005 peak of $517,300
– sales were up slightly to 168, but that was the best sales number since 2004
– the Assessed Value to Sales Ratio (ASR*) declined from 87.8% to 84.8%.

Condos
– the median price increased 4% to $267,500, still down 6% from the 2005 high
– sales exploded to 74, almost double the 40 of 2013 and more than the prior peak years (this century) of 70 in 2005 and 2006
– the ASR increased slightly from 80.9% to 82.7%.

Property Taxes
– While the tax rate for FY2015 has dropped from $18.70 to $17.15, the average tax bill will increase by 4% or $352. (more…)