Swampscott’s shrinking Housing Inventory

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.

The first chart shows overall supply numbers year on year ( 1 = Jan 1, 2 = Feb 1, et.c, 7 = Jun 27), and the table shows current inventory. Note the huge drop in houses for sale under $500,000.

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Sales so far this year are almost exactly the same as in 2014, while the median sales price has increased 2% to $445,000. There are currently just 4 houses for sale below that median price, suggesting that the median price should increase in the second half of 2015.

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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