Mark Madden | The Madden Team

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 Belmont, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Belmont, MA market statistics weekly on Tuesdays.

As you can see there has been appreciation year-to-date in the Single Family market of Belmont at 5% (up $38,000 form last year). Condominiums, however, have seen a sharp decrease in price (down 18%), while Multi-Families have seen a very slight decrease in price (-1%)

Inventory is down in all three categories which is good for sellers on the market that are priced right. By pricing yourself in the market, with low inventory, you are creating less competition for yourself and the potential for a multiple offer situation.

Total number of sales is down this year, but that could be related to the lower inventory as well.

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.

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

Please click here to visit the Know Your Market Archives.

Overview

The Old Medford High Condominiums was completed in 1896. Throughout the years it had multiple additions including the north and south wings, which were built in 1929 and 1939 respectively. The building is built with red brick with stone details. The school remained open until 1971 when the new Medford High School was completed. Around 1984, the property was purchased by a developer to be converted into condominiums.

Units & Pricing

There are 111 units in The Old Medford High Condominium complex. There are a mixture of 1 and 2 bedroom units, with some of the units featuring bedroom lofts above. The 1 bedroom units are good-sized at mid-700's square feet, while the 2 bedrooms range around 950 - 1,150 square feet.

The monthly condominium fees vary depending on unit size. The condo fee includes: Water, Sewer, Master Insurance, Swimming Pool, Laundry Facilities, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Tennis Court, Sauna/Steam, Refuse Removal

Sales History

The number of sales over the last ten years in MLS transactions has ranged from 9 in 2007 to 19 in 2001.

• 1998 - Average Sales Price: $114,647 (16 units sold) with an Average Market Time of 33 days
• 1999 - Average Sales Price: $130,175 (16 units sold) with an Average Market Time of 26 days
• 2000 - Average Sales Price: $198,892 (12 units sold) with an Average Market Time of 18 days
• 2001 - Average Sales Price: $178,000 (19 units sold) with an Average Market Time of 23 days
• 2002 - Average Sales Price: $210,505 (11 units sold) with an Average Market Time of 21 days
• 2003 - Average Sales Price: $231,691 (11 units sold) with an Average Market Time of 20 days
• 2004 - Average Sales Price: $261,450 (12 units sold) with an Average Market Time of 21 days
• 2005 - Average Sales Price: $269,964 (14 units sold) with an Average Market Time of 33 days
• 2006 - Average Sales Price: $239,417 (12 units sold) with an Average Market Time of 106 days
• 2007 - Average Sales Price: $246,911 (9 units sold) with an Average Market Time of 103 days

Currently there are 6 condominiums for sale at The Old Medford High Condominiums ranging in list price from $209,000 to $265,000. Year-to-Date in The Old Medford High Condominiums 5 units have been sold, averaging a sale price of $217,430. For more information on the current listings or to be notified of any new listings in The Old Medford High Condominiums complex please email me at mark@smarthomesboston.com

Area

The Old Medford High Condominiums feature a beautiful pool, sauna, tennis courts and patio for common use. There are also many units that have underground parking with some units having outside deeded parking. The building is elevator accessible.

The Old Medford High Condominiums is accessible to Route 93, Route 60 and Route 16 for all your commuting needs.

Click Below to see my past Go Inside articles:

Go Inside Archive

Overview

The Falls Ridge Condominiums is complex of 33 condominiums in Newton. Falls Ridge is located at 51 Pettee Street, which is directly off Eliot Street. The building which houses the condominiums was built in 1904 as the Ralph Waldo Emerson School. In 1955 an addition was added to school giving it the full shape it is today. In 1984, the entire complex was converted into condominiums with the Emerson Community Center being connected on the far right side. Most of the units have 1 deeded parking space as well.

Units & Pricing

Each unit varies in size and number of bedrooms. For the most part, the units are all over 1,000 square feet and are for the majority 1 bedroom condominiums. There are some 2 bedrooms as well. Units have in-unit laundry, central air and elevator access to every floor.

The monthly condominium fees range from $400 - $650. The condo fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Extra Storage, Refuse Removal, Garden Area

Sales History

The number of sales over the last ten years in MLS transactions has ranged from 0 in 2000 to 8 in 2005.

• 1998 - Average Sales Price: $152,214 (5 units sold) with an Average Market Time of 29 days
• 1999 - Average Sales Price: $216,500 (4 units sold) with an Average Market Time of 32 days
• 2000 - Average Sales Price: $0 (0 units sold) with an Average Market Time of N/A days
• 2001 - Average Sales Price: $290,000 (4 units sold) with an Average Market Time of 16 days
• 2002 - Average Sales Price: $269,167 (6 units sold) with an Average Market Time of 50 days
• 2003 - Average Sales Price: $344,000 (2 units sold) with an Average Market Time of 70 days
• 2004 - Average Sales Price: $293,000 (3 unit sold) with an Average Market Time of 42 days
• 2005 - Average Sales Price: $359,898 (8 units sold) with an Average Market Time of 98 days
• 2006 - Average Sales Price: $373,200 (4 units sold) with an Average Market Time of 119 days
• 2007 - Average Sales Price: $381,250 (4 units sold) with an Average Market Time of 165 days

Currently there are 2 condominiums for sale at Fall Ridge listed at $309,000 and $399,000. Year-to-Date in the Falls Ridge Condominiums 0 units have been sold. For more information on the current listings or to be notified of any new listings in the Falls Ridge complex please email me at mark@smarthomesboston.com

Area

The Falls Ridge Condominiums are located in the Historic Upper Falls section of Newton. With quick access to both Route 9 and I-95 this is a great place for commuters to lay their head at night.

Click Below to see my past Go Inside articles:

Go Inside Archive

In an effort to be knowledgeable 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 Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton market statistics on a weekly basis on Fridays.

This week I am posting the market statistics for Newton, MA. As you can see there has been depreciation in every housing market of Newton over the last year. The largest depreciation is in Multi-Family homes which has dropped $75,968. There is good news in the Newton housing market though. The inventory has dropped slightly, which allows for a better absorption rate (months of inventory on the market). Also, the days on market for sold single families and condominiums has dropped by double digits which is a good sign that the housing market is moving in Newton.

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.