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Salem Condos

This town had a population of 41,340 in the U.S. Census in 2010. It is located in Essex County. The total area of the town is 18.1 square miles. The Massachusetts Bay Transportation Authority provides commuter rail service to the town with its Newburyport/Rockport Line that stops at a station in the community. There are several MBTA bus lines that serve the town.

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Buying a Condo

The median listing price in the town is $294,450. There have been over 40 units on the recent market, ranging from a one-bedroom, one-bath, 558 square-foot unit built in 1905 listed at $159,900 to a four-bedroom, three-bath, 2,200 square-foot unit built in 1880 listed at $599,000.

The following is a description of some of the communities in the city:

The Village at Vinnin Square

This complex was built in 1980 and has 172 units. Each unit features a master suite, a fireplace, and a deck. The community amenities include wooded views, garage parking, a swimming pool, clubroom, and a tennis court. The living space ranges from 885 square-feet to 2,730 square-feet. The prices range from $196,000 to $550,000.

The Highlands

This 1988 complex has 140 units that are townhouses. It is located off of Massachusetts Route 107 near Spring Pond. Each condo has a fireplace, skylights, patio, and a deeded garage. The unit prices range from $295,000 to $320,000. The complex amenities include a secluded setting and a swimming pool.

Pickering Wharf

This development has 55 units and was built in 1980. It is located in the historic downtown neighborhood of the town, on the waterfront. Each unit features a fireplace, deeded parking and stainless steel appliances. Prices have ranged from $204,500 to $274,900 in recent property transactions.

The purchasing of a property in this community gives the prospective buyer a multitude of choices. It also presents the consumer with a dizzying array of details to sift through. Experts advise buyers to examine the details of each property. Often times the consumer should seek professional help. “A real estate agent who has experience selling [co-op properties] will know how to guide you through the process and ensure important documents are not overlooked,” writes one market expert. Contact Boston City Properties to arrange for our buyer representative services so that you will find the best property in the best complex.

Selling/Listing a Condo

“Selling a [co-op property] is much different than selling a single family, multi family, or vacant land,” warns a veteran property agent. There are special caveats involved in marketing a property to get the best price. One of those important differences is the timing of the listing. When marketing a unit in a waterfront area like this community, the best time to put a property on the market may stand conventional wisdom on its head. “Traditionally, spring is the best season to sell a house, and the winter holidays are the worst. But with [co-ops], conventional wisdom might not apply. If your place is in a vacation area, say, near a beach or ski resort, you’ll get the best price right before the tourist season hits,” writes a condo expert. Boston City Properties understands the nuances of the selling a co-op property. Contact us to put our experience to work for you and get the best price for your unit.

The Neighborhoods of the Community

There are several neighborhoods in the community. The following is a brief description of the largest:

Highland Avenue/Swampscott Road

This neighborhood is in the southwestern section of town. It has a median property price of $381,420. The vacancy rate is 9.1%, which indicates it may be a buyer’s market with a good supply of properties.

North Neighorhood

This area of town has a median property price of $399,778 and a vacancy rate of 6.3%, which is near the national average. The property demand may be a little greater than other neighborhoods nationwide.

Loring Avenue/Canal Street

The median property price in this southeastern area of town is $384,017. It has a vacancy rate of 4.9%, which is lower than national averages, indicating that this area may favor sellers since supply may be tight.

Bridge Street/Boston Street

This is the most expensive neighborhood in the community when it comes to housing. It has median price of $420,232. The vacancy rate is a low 2.7% which indicates a very tight property market.

The community combines many promising characteristics that make it an attractive place to live. The healthy property market, the good transportation infrastructure, and higher than average investment in student education, which is 13% above the state rate all combine to make the area appealing to prospective residents. As one resident said, “I have lived in this area my whole life, and would not change a thing.”

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