December sales in Marblehead and Swampscott still mostly above List Price
The small number of December sales in Marblehead and Swampscott continued to show strength.
Marblehead
6 of 9 SFH sales in December – and 1 of 3 Condo sales – were over List price.
Swampscott
6 of 9 SFH sales in October were at or over List price, while 1 of the Condo sales was at List and one just below. (more…)
Marblehead and Swampscott November sales still strong
November sales in Marblehead and Swampscott continue to show strength.
Marblehead
10 of 19 SFH sales in November were at or over List price, with 2 sales at 23% and 32% over list. Just 1 of the 4 Condo sales was over List.
Swampscott
6 of 10 SFH sales in October were at or over List price (5 over the Original List Price), while 5 of the 6 Condo sales were at or above List.
Comment
While sales continue to be strong – and often strongly above list price – it is interesting to note that 8 of the 14 SFHs currently available for sale in Marblehead have had price reductions, while 4 of the 9 in Swampscott have also seen price cuts – or “adjustments” or “improvements” as we like to call them.
Note also that in November, all but 1 of the sales where the price had been reduced subsequently took place below the reduced price.
The sample is small, but the implication is clear: over-pricing in this market leads to a lower sale price.
Swampscott Q3 2022 Report: Median Price hits $800,000
The median price of the Single Family Homes (SFH) sold in Swampscott in the first 9 months of 2022 (YTD Q3) increased 12% to $800,000. The median condo price also increased 12% YTD Q3 to $447,500.
Single Family Homes (SFH)
The median price of the SFHs sold in Swampscott in the first 9 months of 2022 (YTD Q3 2022) increased 12% to $800,000 on the smallest number of sales since 2012.
As the percentage of sales over $800,000 increased from 36% YTD in 2021 to 51% YTD in 2022, so the median price moved from just over $700,000 to $800,000. Sales over $1 million YTD increased from 13 to 25. (more…)
Summer 2022 Market Review
Click on Summer Market Review to read the market review for the first 6 months of 2022,
This reports covers all 34 cities and towns in Essex County, with more detailed reviews of Beverly, Gloucester, Manchester-by-the-Sea, Marblehead, Rockport, Salem and Swampscott
And these recent articles: (more…)
Open House 41 Spinale Road Swampscott TODAY
This property has HUGE potential. It offers a large (3,376 sq. ft.), home on over 1 acre of land located on top of a hill situated in the middle of tranquility and privacy. The home offers plenty of space and is ready for your updating and great ideas. Very convenient to the Swampscott train station, restaurants, shopping, the high school and less than a mile to the beach. Great opportunity to create your own dream home in a wonderful seaside community
Click here for details or call me on 617.834.8205 to arrange a private showing.
Open Houses weekend May 21/22
Here are this weekend’s Open Houses (an updated list will be published tomorrow at 8 a.m.):
Click on these links for details: (more…)
New Listings week ending May 20
There is a bounce in New Listings this week:
Click on these links for details: (more…)
New Listings mid-week May 18
There is a spring again in New Listings this week:
Click on these links for details: (more…)
Swampscott House on over 1 acre with HUGE potential
This property has HUGE potential. It offers a large (3,376 sq. ft.), home on over 1 acre of land located on top of a hill situated in the middle of tranquility and privacy. The home offers plenty of space and is ready for your updating and great ideas. Very convenient to the Swampscott train station, restaurants, shopping, the high school and less than a mile to the beach. Great opportunity to create your own dream home in a wonderful seaside community.
Click 41 Spinale Road for more details and call me on 617.834.8205 to arrange a private showing.
Andrew Oliver, M.B.E.,M.B.A.
Market Analyst | Team Harborside | teamharborside.com
m.617.834.8205
www.OliverReportsMA.com
ajoliver47@gmail.com
“If you’re interested in Marblehead, you have to visit the blog of Mr. Andrew Oliver, author and curator of OliverReportsMA.com. 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, Salem, Beverly, Lynn and Swampscott.”
Licensed in Florida
www.OliverReportsFL.com
Flash First Quarter 2022 Numbers
The shortage of inventory is reflected in these Q1 numbers:
As always, small numbers need to be treated with caution. This chart shows the cyclicality of sales in New England:
Swampscott Votes OK $98 million Elementary School
Swampscott will build a $98 million elementary school on the Stanley Elementary School site at 10 Whitman Road, voters decided in a special election on Tuesday. According to Swampscott Town Clerk Susan Duplin’s unofficial results, the turnout was 35% of the town’s 11,875 registered voters and the affirmative captured 65% of the vote.
Tuesday’s majority vote essentially OK’d a $64 million Proposition 2 1/2 debt-exclusion override. The Massachusetts School Building Authority is making available a $34.3 million grant award toward the school building project, leaving Swampscott taxpayers to pick up the remaining $64 million. The $60 million would be borrowed right away, taking advantage of low-interest rates, and $4 million next year, and the borrowing would be paid back over 30 years, according to the Swampscott Finance Committee.
“The maximum estimated annual net impact on the median single-family household tax bill is approximately $300,” wrote the Finance Committee in a letter printed on last month’s Town Meeting warrant. Click here to read the Swampscott Reporter’s article on the election including details of the financing.
The new school once built will unify a trio of neighborhood elementary schools: Stanley Elementary School, Hadley Elementary School and Clarke Elementary School. It will serve 900 students enrolled in kindergarten – fourth grade. (more…)
Swampscott Election Tuesday October 19
Swampscott is holding an election this coming Tuesday, October 19, to approve funding for the new elementary school.
Here are the Election FAQs provided by the town and this is a sample ballot: (more…)
Open Houses Sunday October 10
Here is the updated list of today’s Open Houses (with links to Q3 market reports for Marblehead and Swampscott):
Click on these links for details: (more…)
Fall Market Report
Sagan Harborside has published my Fall Market Report this week. The report includes stats on every city and town in Essex County, with more detailed analysis of the markets in Marblehead, Swampscott, Salem, Beverly, Gloucester, Nahant, Manchester-by-the-Sea and Rockport.
Here are the highlights: (more…)
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