Know Your Market: Watertown, Massachusetts Market Statistics

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.

As you can see there has been slight depreciation year-to-date between last year and this year. Single families are at -6%, condominiums are at -1% and multi-families are at -2%. Considering how the media reports massive depreciation, -1% and -2% are not that steep of a decline.

Good news is that the inventory is down across the board, which means there is less competition and it is probable that a higher percentage of sellers are motivated to sell and are, therefore, hopefully pricing there properties properly.

In Multi-Families, the original list prices for homes have tended to be too high, which has created a large disparity in asking price and selling price. This disparity has also driven up the days on market for sold Multi-Family homes. However, there has been an increase in sold Multi-Family homes up 5 from last year at this time (49 compared to 42).

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

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