Swampscott Mid-Year Housing Market Review

· by · in ,

Inventory in the Single Family Home (SFH) in Swampscott remained well down on last year, while sales were slightly up. The outlook is for an increase, possibly a sharp one, in the median price in the second half of the year.

Median Prices
The median price for the first half of 2015 was $445,000, up 1% from $439,000 in 2014. (more…)

Swampscott’s shrinking Housing Inventory

· by · in , ,

Swampscott’s housing inventory has actually declined since the beginning of May, a period that has seen a 30% increase in inventory of Single Family Homes (SFH) in Essex County overall. (more…)

Housing Inventory still down heading to July 4

· by · in , , , , ,

As we head towards July 4th, often the target date for home buyers wanting to be in their new homes for the start of the school year, housing inventory remains well down from a year ago. (more…)

Marblehead vs Swampscott

· by · in , , ,

On BostonGlobe.com under Lifestyle, Real Estate, there is a tool to allow the reader to compare two towns. Here is a link to Marblehead vs Swampscott;

The most notable comparisons: (more…)

What’s happening – or not – in the Marblehead market?

· by · in , , , , , ,

I am always cautious about reading too much into short-term trends, especially in a market like Marblehead with a small number of sales, but at the same time I do try to report on current market conditions.

And I am puzzled by what has been happening over the last 2-3 weeks – or rather by what has not been happening. And that is houses receiving accepted offers. (more…)

We’re off: more listings, Open Houses

· by · in , , , ,

As expected, we have seen a decent number of new listings this week. We even have the promise of 60 degrees and sunshine on Sunday.

So make plans to visit these Open Houses:
(more…)

Beverly, Salem and Swampscott Housing Market Reports

· by · in , , , , ,

In the world of small numbers it is necessary to be cautious about drawing too many conclusions. That is why, for example, I am not including percentage changes for the tables below. The message I take from these numbers is that, in general, the market continues to progress in an orderly manner. (more…)

Housing inventory: how low can it go?

· by · in , , , , , , ,

A recent Boston Globe article Snow delays spring market highlighted the lack of inventory in the, you know, “important” markets such as Cambridge and Somerville.

We know inventory is down from last year, when if you remember we had the polar vortex, but where do we stand, here in Essex County and indeed throughout Massachusetts, compared with the last several years? (more…)

Swampscott housing market steady in 2014; condo sales explode

· by · in , ,

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…)