Swampscott Third Quarter Housing Review

The Single Family (SFH) market
After enjoying good price gains in 2013 the median price in 2014 has been more or less flat all year. And the full year’s median price seems likely to come in as much as 15% below the peak of 2005:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Sales in Q3 were in line with those in 2013:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Supply has increased a little:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

The Condo Market
The median price has declined in Q3 after an increase in the first half. For 2014 as a whole the median looks likely to come in around $260-265k, still down from the peak of $285,000 in 2005:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Sales were up compared with a year ago:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Supply, however, has dropped sharply:

Source: MLS, Oliver Reports

Source: MLS, Oliver Reports

Summary
The market in Swampscott has recovered to a lesser extent than that in other communities. The number one topic that arises during discussions about the housing market in Swampscott is tax rates. In Swampscott it is $18.70, the second highest rate on the North Shore.

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

Sotheby’s International Realty® is a registered trademark licensed to Sotheby’s International Realty

Affiliates LLC.  Each Office Is Independently Owned and Operated

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