Watertown, MA

The number of single family homes sold in Watertown, MA during the month of October decreased from 7 sold (2007) to 5 homes sold in 2008.

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

Between last week and this week there have been some minor difference to the market in Watertown. The number of Multi-Family homes on the market has increased by 4 since last week. This is great news for investors because in the 3rd quarter of this year, investment property purchases spiked by 40%.

However, since last week there has been an increase in listing prices for all three housing sectors. This is surprising to me because we are heading into the winter months, which is typically a slower market. Prices should not deter buyers, because a qualified real estate agent will "pull" comparable properties in order to show the realistic selling point of a property that is of interest.

There has not been a change week-to-week in number of sold homes in all three housing categories for 2008. In 2007, the number of condominium sales rose by 8 between last week and this week. This is significant because the total appreciation year-to-date has slightly rose also.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Overview

The Crossroads on the Charles is a complex of 66 condominiums in Watertown. The Crossroads on the Charles is located at 199 Coolidge Avenue. The condominiums were constructed in 1986, so overtime past owners have added their own interior touches which create different price points per unit. The units comes with either 1 or 2 garage spots in the underground parking garage.

Units & Pricing

The units are almost all 2 bedrooms, but range in size from around 1,250 square feet to 1,700 square feet. The units on the back side of the building have patios which overlook the Charles River, creating a higher list price. All units have washer and dryer hook-ups within the unit. Most units also have at least 1.5 baths, with some units having 2.5 baths.

The monthly condominium fee ranges from around $900 per month to $1,050 per month depending on size of the unit. The condo fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Security, Swimming Pool Maintenance, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Sauna/Steam Room, Clubroom, Walking/Jogging Trails, and Extra Storage.

Sales History

The number of sales over the last ten years in MLS transactions has ranged from 0 in 1998 to 7 in 2007.

• 1998 - Average Sales Price: $279,900 (1 units sold) with an Average Market Time of 45 days
• 1999 - Average Sales Price: $370,833 (3 units sold) with an Average Market Time of 138 days
• 2000 - Average Sales Price: $370,750 (4 units sold) with an Average Market Time of 61 days
• 2001 - Average Sales Price: $397,000 (2 units sold) with an Average Market Time of 114 days
• 2002 - Average Sales Price: $414,279 (7 units sold) with an Average Market Time of 65 days
• 2003 - Average Sales Price: $464,000 (4 units sold) with an Average Market Time of 131 days
• 2004 - Average Sales Price: $448,380 (5 unit sold) with an Average Market Time of 77 days
• 2005 - Average Sales Price: $514,667 (5 units sold) with an Average Market Time of 17 days
• 2006 - Average Sales Price: $514,875 (4 units sold) with an Average Market Time of 82 days
• 2007 - Average Sales Price: $467,500 (2 units sold) with an Average Market Time of 485 days

Currently there are 5 condominium for sale at the Crossroads on the Charles with an average list price of $513,180. Year-to-Date, at 199 Coolidge Avenue, 1 unit has been sold for $420,000 and had been on the market for 73 days. For more information on the current listings of to be notified of any new listings at the Crossroads on the Charles please email me at mark@smarthomesboston.com

Area

The Crossroads on the Charles is located with easy access to Storrow Drive and Memorial Drive. It provides great access to the walking trails of the Charles River as well. From the building's common patio there is a wonderful view of the Boston skyline.

Click Below to see my past Go Inside articles:

Go Inside Archive

In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays.

The columns read from left to right as Single Families, Condomniums and Multi-Families. As you can see there has been depreciation year-to-date in all the single families and multi-families, but we have seen slight appreciation in our condominium market. Although value is down in multi-families, we have actually seen higher volume of sales in this area; the volume is up slightly from last year at this time.

Inventory is down in all categories, by large numbers. This is good for buyers and sellers alike, in my opinion. For buyers this means that there are less sellers "testing the market" out there currently and more serious sellers who are hopefully pricing their properties to sell. For sellers, it's simple, there is less competition which means more buyers looking at your home.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com

Please click here to visit the Know Your Market Archives.

Overview

The Siena Village Condominiums is complex of 59 condominiums in Watertown. Siena Village entrances are on Highland Avenue and Lexington Street. The condominiums were constructed in 1989, so overtime past owners have added their own interior touches which create different price points per unit. For the most part each unit comes with 2 parking spaces, but some units on Angela Lane also have a garage space under the unit.

Units & Pricing

There size of the units depends on whether the basement has been finished,but most units are around 1,300 square feet with 2-3 levels of living space (with finished basement the living area is closer to 1,900 square feet). For the most part, the units have 2 bedrooms and 2.5 baths. The first level has a kitchen, living room, dining room and half bath. The 2nd level typically consists of the Master Bedroom with bath, 2nd bedroom and a 2nd bath. In some units there is a 3rd bedroom on the 3rd floor, which often has cathedral ceilings.

The monthly condominium fee is around $344. The condo fee includes: Master Insurance, Exterior Maintenance, Road Maintenance, Landscaping, Snow Removal, Playground, Exercise Room.

Sales History

The number of sales over the last ten years in MLS transactions has ranged from 0 in 1998 to 7 in 2007.

• 1998 - Average Sales Price: $0 (0 units sold) with an Average Market Time of 0 days
• 1999 - Average Sales Price: $258,300 (3 units sold) with an Average Market Time of 7 days
• 2000 - Average Sales Price: $306,950 (6 units sold) with an Average Market Time of 17 days
• 2001 - Average Sales Price: $347,200 (5 units sold) with an Average Market Time of 51 days
• 2002 - Average Sales Price: $373,750 (4 units sold) with an Average Market Time of 56 days
• 2003 - Average Sales Price: $412,500 (4 units sold) with an Average Market Time of 26 days
• 2004 - Average Sales Price: $420,000 (1 unit sold) with an Average Market Time of 37 days
• 2005 - Average Sales Price: $460,813 (4 units sold) with an Average Market Time of 70 days
• 2006 - Average Sales Price: $418,580 (5 units sold) with an Average Market Time of 103 days
• 2007 - Average Sales Price: $413,214 (7 units sold) with an Average Market Time of 120 days

Currently there is 1 condominium for sale at The Siena Village listed at $419,000. Year-to-Date in the Siena Village 3 units have been sold for an average sales price of $392,833 and those condos averaged 105 days on the market. For more information on the current listing of to be notified of any new listings in the Siena Village please email me at mark@smarthomesboston.com

Area

The Village is located only a short walk to the 70 or 70A Bus to Watertown Square and Central Square. These condominiums are great for the commuters as they get you away from the city but allow for a single family feel on a condominium budget.

Click Below to see my past Go Inside articles:

Go Inside Archive