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Go Inside - The Riverbank Lofts in Watertown, MA

THE RIVERBANK LOFT at 290 PLEASANT STREET in WATERTOWN, MA

Overview

The Riverbank Lofts is a complex of 56 condominiums in Watertown. The Riverbank Lofts are located at 290 Pleasant Street in Watertown, MA. The condominiums were constructed in 2006 in a building originally built as an office building and then converted into condominiums. Every unit comes with 2 deed parking spaces.

Units & Pricing

The units are all 1 bedroom or studio sized and range in size from around 621 square feet to 1,333 square feet. The units on the first floor have patios, while the back side of the building overlooks The Charles River. The original units came with washer and dryer included in the units, but resale units will obviously have the choice of keeping the washer and dryer if so desired. All units have 1 bathroom.

The monthly condominium fee ranges from the low $200's per month to the high $300's per month depending on size of the unit. The condo fee includes: Heat, Master Insurance, Elevator, Snow Removal, Refuse Removal.

The Riverbank Lofts

Sales History

The number of sales over the last three years in MLS transactions has ranged from 4 year-to-date in 2008 to 32 in 2006.

  • 2006 - Average Sales Price: $333,475 (10 units sold) with an Average Market Time of 24 days
  • 2007 - Average Sales Price: $332,966 (32 units sold) with an Average Market Time of 93 days
  • 2008 - Average Sales Price: $351,125 (4 units sold) with an Average Market Time of 495 days

In 2009, there have been 2 units that have sold at The Riverbank Lofts. They were listed at an average of list price of $317,500 and sold for an average of $297,500. Currently there are 3 condominium for sale at The Riverbank Lofts with an average list price of $315,667 and there are 2 units that are currently Under Agreement that were listed at an average of $346,500.

For more information on the current listings or to be notified of any new listings at The Riverbank Lofts please email me at mark@themaddenteam.com or call me directly at 617.448.9481.

Area

The Riverbank Lofts are located along the Charles River Bike Path, which leads all the way into Boston. It also has great access to the Mass Pike, Route 20 and more. With close access to Watertown Square's shops and restaurants this is a great commuter location.

Click Below to see my past Go Inside articles:

Go Inside Archive

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Updated on November 12, 2009

The 02472 - Pleasant Street Project Rejected

02472 Real Estate News
Watertown Planning Board Rejects Plan for Proposed 48 Unit Apartment Building on Pleasant Street

As reported on the Watertown Tab website (www.watertowntab.com), the Planning Board rejected the plans for a 48 unit apartment building at 140 Pleasant Street in Watertown. This building was supposed to take the site where Dan's Auto Service is located, on the river side of the street.

There are pros and cons to every project and citizens came out on both sides. Some mentioned the tax revenue that such a building would bring to the town, while others were against the increased traffic, blockage of sunlight and overall size of the building. To read the article in full, as featured on The Watertown Tab website, please click here.


Wicked Local Article
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SOLD Listing Featured in Boston Globe Article

As seen in the Boston Globe!
One of my recent sold listings was featured in a Boston Globe article about how the stimulus plan is helping Watertown. It was great because they interviewed the buyers who bought the home and showed some of the work that they had begun putting into the home. The buyers talked about realizing that now is a great time to buy because of low home prices, low interest rates and the $8,000 tax credit for first time home buyers.

Take a minute to watch the video or read the article. The buyer talked about receiving a great deal and... he did! It was a house that needed a TON of work in a great neighborhood, so after they put in the effort they'll have a great house in a great Watertown neighborhood.

Click on the picture below to watch the video.

Partridge St in Boston Globe
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Know Your Market: Watertown, MA Single-Family Market Statistics

Watertown, Massachusetts Market Statistics
Single Family Homes

The Watertown single family home market has seen depreciation year-to-date both in average sales price and median sales price. Although, total volume of sales is slightly down (26 sales in 2008 vs. 19 sales in 2009), there are some signs of life and some signs of sellers' acceptance of the current market.

Watertown, MA Single Family Home Stats

As you can see, the average days on market for SOLD homes has decreased by 63% from 93 days in 2008 to 59 days in 2009. This shows that home owners are pricing their homes more appropriately for the current market and receiving offers at a faster rate than previously. Although price are down, inventory is still relatively equal between last year and this year. What this tells me is that home owners who need to sell are not allowing this market to get in their way. Home owners understand that the market being "down" is all relative to when you purchased your home.

For more information regarding Watertown market statistics or to receive the weekly market statistics via email, please contact Mark at mark.madden@commonmoves.com or call him directly at 617.448.9481.

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Go Inside: The Village Condominiums - Watertown, MA

The Village Condominiums is complex of 308 condominiums in Watertown. The Village is bound by Lexington Street, Belmont Street and Duff Street, including Pierce Road and Grant Avenue. The condominiums were constructed in 1940, so overtime they have all added their own interior touches. For the most part each unit comes with 1 deeded parking space.

The Village Condominiums - Watertown, MA

Units & Pricing

There are a range of units size and layouts,but most units are around 1,300 square feet with 2-3 levels of living space (depending on a finished basement). For the most part, the units have 2 bedrooms and 1 bath on the 2nd level. The first level has a kitchen and open living room/dining room combination. I have included the most recent sales prices in the complex.

The monthly condominium fees are around $250. The condo fee includes: Water, Sewer, Master Insurance, Swimming Pool, Exterior Maintenance, Landscaping, Snow Removal, Clubroom, Refuse Removal.

As you can see by the condominium fee, the complex has its own swimming pool and club house which can be rented out for big gatherings. The grounds of The Village are very well maintained.

The Village Condominiums - Watertown, MA

Sales History

The average sales price over the last five years has ranged from $275,700 in 2003 to $317,712 in 2005.

  • 2003 - Average Sales Price: $275,700 (15 units sold) with an Average Market Time of 65 days
  • 2004 - Average Sales Price: $310,060 (20 units sold) with an Average Market Time of 25 days
  • 2005 - Average Sales Price: $317,712 (28 units sold) with an Average Market Time of 31 days
  • 2006 - Average Sales Price: $302,524 (21 units sold) with an Average Market Time of 64 days
  • 2007 - Average Sales Price: $299,939 (22 units sold) with an Average Market Time of 68 days
  • 2008 – Average Sales Price: $286,714 (7 units sold) with an Average Market Time of 95 days

Currently there are 4 condominiums for sale at The Village ranging in price from $279,900 to $319,900.

Thus far in 2009 16 units have sold at The Village. The average list price was $289,025 and they sold for an average of $280,031.25. For more information on current listings at The Village Condominiums or to be updated when new listings come on the market please email Mark at mark@themaddenteam.com or call him directly at 617.448.9481.

Area

The Village is located only a short walk to the Waverley Square commuter rail into Boston or the 73 Bus to Harvard 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.

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Updated on November 12, 2009