Saugus, MA Real Estate
Saugus is located at the southernmost tip of Essex County and had a population of 26,628 in the 2010 U.S. Census. It has an area of 11.8 square miles with over 91% being land and just under 9% being water. Its eastern border is shared with the neighboring town of Revere, Massachusetts, which separates it touching Massachusetts Bay. The town is bordered to the west by Middlesex County. Though the town is mainly land, the water portion makes a substantial impact on it. A river that is named after the town flows through the community. Several ponds are found in is boundaries, such as Birch Pond, Hawkes Pond, and Walden Pond. The Rumney Marsh, which is a wetland bordering the Pines River, is located in the town’s southern area. The town has several distinct neighborhood villages that it can be separated into: Lynnhurst, Center, East, North, Pleasant Hills, Oakland Vale, Hammersmith Village, Golden Hills, Blacksmith Village, Bristow, and Cliftondale.
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The community is nine miles northeast of Boston and is connected with the city through several means of transportation. U.S. Route 1 is a major highway artery that is used to travel to Boston. The trip takes 23 minutes down this route. The Massachusetts Bay Transit Authority’s Commuter Rail system has a station of its Newburyport/Rockport Line in nearby Lynn, Massachusetts, which is to the east of the town. The MBTA subway system has its Blue Line extending close to the town, ending in neighboring Revere. Finally, several MBTA bus lines connect the community to the MBTA train lines.
Single-Family Houses for Sale
There are 10,636 houses in the town, with owners occupying 8,126 of them. Thus, of the town’s residents, 80% are homeowners. There are 2,483 houses without a mortgage in the city. This means 23.3 % of homes are owned outright by residents. Since 2000, average property values have increased by 53.7%. The average year of construction for the town’s residences is 1955. There have been 68 homes listed on the local property market recently. These have ranged from a two-bedroom, two-bath, 1,356 square-foot house built in 1932 listed for $249,447 to a six-bedroom, six-bath, 6,920 square-foot house built in 1991 listed for $1,200,888. The average sale price for a home in the town is $392,000. The average price for a house has risen 7% over the last year. The home prices in the community compare favorably to the nearby towns. The average price of a home in Wakefield is $465,000, which is 18% more. The average price of a home in Melrose is $584,375, which is 49% higher. Over 26% of the homes in the town fall into the $400,000 to $749,999 price range. Almost 48% of the homes fall into the $300,000 to $399,000 price range.
The following is a description of some of the neighborhoods across the town:
North/Oakland Vale
This neighborhood is in the northwestern section of the town. It has a median property price of $512, 311, which makes it the most expensive area of town in which to live. The majority of houses in this area range from small houses (studio-size homes to two-bedroom homes) to medium-size homes. The majority of homes were built since 1969. The area also has a low vacancy rate of 2.7%, which indicates the property market is tight with a limited supply compared to demand.
Lynnhurst/Merrimac Terrace
This area of town is located northeastern section of the community. With the median property prices being $437,498, it is the second-most expensive part of the town in which to live. This average property price is higher than 57.8% of other communities across the state. Most of the houses in this section are small to medium-size (three to four-bedroom homes). The vacancy rate in this area is 5.1%, which is lower than the national average of 6.9%.
Town Center
This section of the town has a median property price of $415,829. This is the historic district of the town, with the majority of houses having been constructed before 1940. The vacancy rate of the area is 5.2%, which indicates that the demand for housing is slightly higher than the national average.
Cliftondale
This area of the community lies just southeast of the Town Center district. Its median property price is $415,187. Most of the homes in this section are small to medium-size houses. The majority of homes were built before 1969, with 60.3% dating to the pre-1940 era. The vacancy rate is higher than other parts of the city, averaging 7.9%. This may indicate less demand for housing in this section than the northern neighborhoods.
Salem Turnpike/Ballard Street
This is the southern section of the community and the least-expensive property area in the town. The median price of property is $410,339. This is 24.8% lower than the median property price in the North/Oakland Vale neighborhood. Most of the homes are small to medium-sized and were constructed before 1940. The vacancy rate is 6.2%, which is higher than most of the other neighborhoods.
Condos/Townhouses for Sale
The average price of a townhouse in the community is $316,546, which is 32.3% lower than the average price statewide. There have been four condominiums listed on the recent local market. They ranged from a two-bedroom, two-bath, 1,377 square-foot unit built in 1987 listed for $389,900 to a three-bedroom, two-and-one-half bath, 1,906 square-foot unit built in 2018 listed for $549,900.
The following is a description of some of the condominium/townhouse communities in the town:
Sheffield Heights
This 214 unit complex is located near U.S. Route 1. It was built in 1984. The units are townhouse-style with varying floor plans. Most are two-bedroom units and range from two to four levels. The condos range from 1,000 square-feet to 2,600 square-feet in living space. The development offers amenities such as a swimming pool, tennis court, and a clubhouse. Based on recent sales, the price range of two-bedroom units is $337,500 to $370,000. The price range of the three-bedroom units ranges from $367,000 to $379,000.
Pleasant Hill Condominiums
This is a 37 unit condominium which is located in the center of town. It was built in 2005. All units are two-bedroom, two-bath condos with a fireplace, balcony, hardwood flooring and granite countertops. They range in size from 925 square-feet to 1,464 square-feet. The development’s amenities include underground parking, a gazebo, and an indoor club. The units range in price from $350,000 to $370,000.
Periwinkle Park
This 1987 complex has 30 units located in the central part of town near U.S. Route 1 and Main Street. Each condo is a townhouse-style which has an attached garage, private deck, granite countertops, basement, and a master suite. There are small and large units: two-bedroom, one-and-a-half bath, 1,300 square-foot units and three-bedroom, two-bath, 2,344 square-foot units. The price of a small unit has recently been $298,124, with a larger unit selling for $325,000.
Oakpoint Village Townhouses
This 16 unit complex was built in 2005 and features townhouse-style units. Each unit is a two-bedroom, two-and-a-half bath, 1,500 square-foot condominium. They each include stainless steel appliances, an unfinished walk-out basement, granite countertops, and an attached one-car garage. The complex is also pet-friendly. The current price range of a unit is $429,900.
102 Central Street Condominiums
This is a 24 unit complex that was built in 2005. It is located near U.S. Route 1. The development features multi-level three-bedroom units. Each condo has a back deck, detached garage, and a full basement. With different floor plans offered, the living space ranges from 1,173 square-feet to 2,474 square-feet. Based on recent market activity, the larger unit’s approximate price is $418,000.
Forest Green Condominiums
This complex was built in 1986 and has 58 townhouse units. There are both two-bedroom and three-bedroom units available, with living space ranging from 1,503 square-feet to 2,762 square-feet. The price of a unit ranges from $365,000 to $415,000.
Hillview West Condominiums
This complex has 98 units and was built in 1981. All units are two-bedroom, two-bath condos with living space ranging from 870 square-feet to 1,310 square-feet. Each unit has an open floor plan, balcony, and a fireplace. The complex amenities include a swimming pool, a garden area, walking trails, and off-street parking. The price of a unit ranges from $255,000 to $275,000.
Suntaug Estates
This development was built in 1975 and features 71 two-level units. The complex has one-bedroom, two-bedroom, and three-bedroom units with living space ranging from 840 square-feet to 2,077 square-feet. Each unit has an open floor plan and a deck. The complex amenities include a swimming pool, garage parking, and laundry facilities. The price of a one-bedroom unit ranges from $219,000 to $235,500. Three-bedroom unit prices are in the $342,000 range.
Apartments
Almost 23% of the city’s population are renters. The average monthly rent is $1,691. The specific rental rates vary greatly across the city. In the North/Oakland Vale neighborhood, the average rental price is $2,956. The average rent in the Lynnhurst/Merrimac Terrace area is $1,691. The Town Center tenants will pay on average $1,234 in rent each month, which is the lowest in the city. Cliftondale average rental rates are $1,477 monthly. Apartment buildings and complexes make up 24.5% of the community’s residences. The median year of construction of the town’s apartments is 1973. There are 2,112 rental units in the city, with 22.6% paying monthly rent between $1000 and $1,499. Over 24% of tenants’ monthly rent falls between $1,500 and $1,999. The town’s average renter moved in five years ago. On the recent market, there have been 18 apartments listed for rent ranging from an one-bedroom, one-bath, 750 square-foot unit for $1,400 a month to a four-bedroom, three-bath unit for $2,960 a month.
The following is a description of some of the city’s apartment complexes:
The Residences at Stevens Pond
This apartment complex was built in 2005. It has one, two, and three-bedroom units. The one-bedroom apartments come in three different floor plans: The Appleton, The Appleton with loft, and The Adams with loft. The Appleton is a one bed-room, one-bath, 817 square-foot unit that rents for $1,895 monthly. The larger Appleton unit features a second-level loft and has 987 square-feet of living space. The Adams unit is the largest of the three, with 1,242 square-feet of living space. There are eight different floor plans for the two-bedroom units. The Belmont, Ballard, Talbot, and Taylor floor plans are one level and range in living space from 1,185 square-feet to 1,275 square-feet. The other four two-bedroom units add a loft or den to these floor plans with living spaces ranging from 1,381 square-feet to 1,626 square-feet. The monthly rent for four smaller two-bedroom units ranges from $2,324 to $2,649. The monthly rent for the largest two-bedroom unit is $3,431. The three-bedroom units come in two floor plans: The Cliftondale, and The Cliftondale with loft. The smaller unit has 1,330 square-feet of living space, and the larger has 1,606 square feet. Each unit features nine-foot or cathedral ceilings, gas fireplaces, stainless steel appliances, and abundant closet space. The complex amenities include a fitness center and swimming pool. All units require a $1000 deposit.
The Commons Apartments
This complex is located 15 minutes from downtown Boston. It has one, two, and three-bedroom units housed in the main apartment building, along with townhouses situated elsewhere on the property. Each unit features carpeting, spacious floor plans, and a parking spot. The complex amenities include a swimming pool, playground, clubhouse, after-school youth programs, and a computer center. Heat and hot water are included in the monthly rent.
Warden Place
This complex is located near U.S. Route 1. Each unit features spacious floor plans, with heat and hot water provided by the complex. The community amenities include off-street parking, landscaping, and on-site maintenance. The complex features one-bedroom, one-bath units with 700 square-feet of living space starting at $1,500 monthly rent. Each unit has carpeting, hardwood floors, a patio/balcony and walk-in closets. It is a pet-friendly complex that allows up to two pets, either cats or dogs. There is a $50 monthly charge for pets.
Community Overview
Though the supply of certain types of housing may be in smaller supply than other communities in the metro area of Boston, this town has many factors that make it an appealing place to purchase property and make one’s home. First, it is relatively close to the city, which makes it ideal for those commuting to work in Boston. Some parts of the town are only nine minutes from Boston. The good infrastructure allows many of the commuting residents the option of driving. The MBTA bus service offers another means of traveling to the city, which 4% of the residents use for commuting. The average travel time to work is 27.51 minutes, which is lower than the more distant metro communities. Second, the local economy is good. The unemployment rate is 4.4%, which is lower than the U.S. rate of 5.2%. Job growth is at 1.33% and experts forecast that in the next decade jobs will grow by 38.26%. Third, education is valued by the community. Over 43% of residents have a college degree. The local school district reflects this commitment to education, with $14,489 spent yearly per student, which is much higher than the U.S. average of $12,383. As one current resident summed it up, “Saugus is a great town - a wonderful place to raise a family just north of Boston. It's far enough away from the city…to feel like a hometown, but close enough to have access to commute into the city.”
Saugus Condo Developments
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