DebOnTheWeb AKA Deb Agliano - Medford, MA Real Estate

Although you can’t read or watch the news without hearing the term “housing crisis”, Arlington Massachusetts is a good example that all real estate is local and you can’t judge by what might be going on in other areas.

Here are the latest statistics from January 2009:

Let’s compare these figures to what was going on in the fall in October 2008:

As you would expect due to the time of year and the amount of snow on the ground, there are less single family homes and condos currently on the market, but except for this normal seasonal change, the single family and condo market in Arlington has remained steady and active. Single family homes have been selling with an average of only 39 days on the market, while condos have been taking approximately 71 days to sell.

The multi family market has lost some ground. However, since so many 2 and 3 family homes in the city were converted to condos, there aren’t that many multi family homes for sale, so we’re working with a small statistical sample. The figures are showing that while homes are selling in a very respective average of 47 days on market, the average sales price has definitely dropped in last few months. It will be interesting to see what happens in a few months when the spring market (and the sun) returns!

More articles on Arlington, MA:

• Cut Down Your Commute Time
• Real Estate Stats for Arlington, MA as of October 2008
• Bring the Green Line to Route 16

If Goldilocks were looking to buy or sell a house in Somerville, she would find that one segment of the market is speeding up, one segment is slowing down and one segment is just right and has remained level. Here’s the latest statistics for the Somerville, MA real estate market.

Somerville Market Statistics January 2009:

Let’s compare this to what was going on 2 months ago.

Somerville Market Statistics November 2008:

Not surprising given the time of year and the current cold and snowy weather, there are less properties for sale now than there were in November.

Single family homes in Somerville are selling faster with an average Days on Market of 93.9 days. The absorption rate of 1.9 months means that if no more homes were allowed to come on the market after today, it would take less than 2 months for the market to buy up all of the homes currently for sale. The average single family home price has also risen by approxmately $2,500.

Although the average condo price has risen compared to the statistics from November, the absorption rate has also gone up meaning that the condo market is slowing down. The average Days on Market for condos in Somerville during the last 6 months is 104.8 days.

The multi family market has seen a decrease in the average price of approximately $11,000 since the fall while the absorption rate has remained steady. The average Days on Market for multi family homes in Somerville for the last 6 months is 98.5 days.

Here are some other articles about Somerville:

• November 2008 Market Update
• Cut Down Your Commute Time
• Bring the Green Line to Route 16

Welcome 2009! It will be interesting to see what changes happen in the upcoming year. We're already seeing some changes in the real estate market in Medford, MA and I'm sure I'll surprise some people because there are some positive changes.

Real Estate Statistics As of January 2009

It's been a little over 2 months since I showed the the last market update for Medford and I thought it would be interesting to compare what was going on in the market at the end of October versus now at the very beginning of January.

Real Estate Statistics As of October 2008

The first thing you'll notice is there are significantly less single and multi family homes for sale right now. This is to be expected because many people choose to take their properties off the market during the holidays and wait until the spring real estate market begins. The condo market is the exception to this rule and there are currently more condos for sale in Medford MA than there were in the fall.

The average sale price for single family homes in Medford has come down about $8,000 while the average sale price for condos has remained steady. The surprise is that the average for multi family sales price in the city has increased by approximately $5,000.

When you look at the absorption rates, you'll see that single family homes are selling a bit quicker. The multi family home market has taken a giant step forward and the current absorption rate of 3.7 months reflects a market at equilibrium and not a buyer's market. The condo market, though, has slipped and is showing a buyers' market with 6.5 months of inventory currently available.

If you'd like more specific information for your situation, just let me know and Happy New Year!

Looking out my window certainly confirms that winter is here in New England and with the snow we normally see a slow down in the market. This is exactly what’s happening in the condo and multi family segments of the real estate market in Stoneham MA.

Although 2 and 3 family homes are only a small percentage of the properties in Stoneham, this segment of the market has the highest change in the amount of time taking properties to sell. Although there are 4 less multi family homes for sale this year versus the same time last year, it is now taking on average 2 months longer to put these homes under agreement.

There have been changes in the condo market in 02180 as well. There are currently 43 condos for sale right now where there were only 22 condos for sale at this point last year. It is now taking about a month longer to sell condos in Stoneham as well with days on market now up to 190 days.

The Stoneham single family market has remained a steady market over the last year. There are currently 50 single family homes for sale right now and according to MLS, there were 50 single family homes for sale this time last year. The average days on market has also stayed the same at 136 days in order to have an accepted offer on a property.

Email me for a personalized market update for Stoneham.

Let's take a look at what's been going on in the real estate market in the fair city of Winchester: Winchester's housing inventory is primarily made up of single family homes. As you can see from the chart above, both the single family homes and condos in the city are still selling in an average time frame and the real estate market for these properties is pretty much at equalibrium. Winchester doesn't have many multi family homes (at least those that haven't been converted into condos during the past few years). Unlike most of the surrounding communities where multi family homes sell for more than single family homes, the reverse is true in Winchester and the numbers are showing us that it's still a buyers' market for multi family homes in 01890.