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.
So, I want to touch on something this week that I have alluded to in past market statistics. We are now entering the "real" winter months, which has been historically slower for the real estate market (Side Note: We are still very busy at my office, with many accepted offers this past week and many more offers waiting for a yes or no). However, when I look at the market statistics it seems as though the sellers are not understanding the market.
This past week, all three housing categories had an increase in average listing price. This was surprising to me, because the average market time for each category was:
Both the condominium homes' average market time and multi-family homes' average market time has exceeded the average market time of homes that have sold this year. This makes me question, if you're home has far exceeded the average market time of a sold home this year, is it possible that it is overpriced? Sorry, this was a rhetorical question because the answer is YES!
Listing agents need to set expectations for their sellers and refuse overpriced listings, because it is a waste of your sellers' time to let a listing languish on the market for 150+ days.
In good news... the homes sales increased in all 3 categories from last week, while last year's year-to-date sales stayed at the same level. Home are still moving and it is a great time to invest in the opportunites currently available in this market.
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.
Please click below to learn how you can help in our Toys for Tots collection campaign!
The Warren Group has come out with its 4th Quarter Sales Review comparing statistics from September 2007 to September 2008 using Sales Volume and Median Prices. There was some great information included in this review, which shows great promise in our real estate market.
Is it a good time to buy in Watertown, MA?
Sure it is!
Is it a great time to sell in Watertown, MA?
Sure it is!
How can I say that it is a good time to do both? Doesn't that contradict itself?
Why would I say that when the media is reporting that we are in a horrible market? The media reports on the entire state of Massachusetts including many of the highly depressed areas, while real estate is local and needs to be taken on a town to town, neighborhood to neighborood basis.
Back to the last question, how can I say it's a good time to do both? If you need to sell your home and have the motivation to do so, please know that home sales have only decreased by -1.95% since last year. The market is not still plummeting, which means that buyers should understand that by waiting they could miss out on great interest rates or these great prices.
Here are the Sales Review taken from the sheet above for the town of Watertown. As you can see, while volume has dropped by 17.35% from 45 homes sales in September 2007 to 30 home sales in September 2008 the median sales price has only decreased by 1.95%.
If you have any questions on other towns in the area, please feel free to contact me at 617.448.9481 or email me at mark@smarthomesboston
Please click below to learn how you can help in our Toys for Tots collection campaign!
Click below to learn more about our services at Smart Homes Boston and Century 21 Commonwealth.
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 Arlington, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Arlington, MA market statistics weekly on Wednesdays.
So, I missed last week due to the holidays so let me give you an update between this week and my post two weeks ago. Since two weeks ago, our inventory of available homes has slightly dropped in both Single Family homes and Condominium homes by 9 in each category. Also, the single family homes that are currently available have seen a decrease in average listing price by roughly $3,000.
The inventory for Multi-family homes has risen by 2 and its average list price has increased by a little over $24,000. At the same time, the appreciation which it had seen two weeks ago at $31,275 year-to-date has decreased to $24,595. Please don't get me wrong, $24,595 in appreciation is a great thing anywhere!
The depreciation in single family home sales has been decreased nearly by half, down from -$8,072 two weeks ago down to $4,500 today. This is great to see, since single family homes added 10 more sales in the past two weeks. Hopefully soon, all three housing categories will be appreciating.
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.
Click below to learn more about the Toys for Tots campaign!
It is the season of giving and we at Century 21 Commonwealth have aligned ourselves with the Toys for Tots campaign in hopes of making the Holiday season a little brighter for children in the local area. If you or someone you know have new, unwrapped toys that you would like to donate to this great program, please feel free to contact me at 617.448.9481 or email me at mark@smarthomesboston
I can either come by your house to pick up your donations or I can give you directions to our office in Watertown, so that you can place the gifts under our office tree.
Thank you so much in advance for your support and I look forward to thanking you in person.
Please click on the flyer below to download the PDF version and spread it around to your family, friends, neighbors and coworkers. Have a safe and happy holiday season!
A couple of weeks back, The Smart Homes Boston Blog was mentioned as a source for market statistics in Watertown by the Watertown Tab's online blog. As you can imagine, I was pretty excited by this because I make this blog as a way to help educate the people in Watertown, Belmont, Arlington, Brighton, Waltham and Newton as to there current market conditions and more.
I hope that this recognition in the Watertown Tab online will help to create more traffic to the website and, in turn, help to create a better understanding of the market place by both buyers and sellers alike.
On another note, I wanted to congratulate Christine Laubenstein of the Watertown Tab for her dedication to their online blog. She blogs on a variety of subjects and is making a great effort to provide both informative and fun information on a daily basis.
It is great to have her, an avid blogger, in town to help educate everyone as to what is going on in and around town. Be sure to stop by the Watertown Tab's online blog to keep up to date on local news stories.
If you have any real estate questions please do not hesitate to contact me at mark@smarthomesboston.com or call me at 617.448.9481
The Madden Team focuses on helping buyers and sellers create seamless transitions in their real estate transactions by saving them two important commodities: Time and Money.
WELCOME and thanks for checking out our blog, and wanting to know a little more about The Madden Team!
We love what we do, and that is helping buyers and sellers in Eastern Massachusetts create seamless transitions in their real estate endeavors. We have been at CENTURY 21 Commonwealth since 2006 and having over 75 years in Watertown combined has allowed us to become knowledgeable about it's nooks and crannies and surrounding towns.
Mark was born and raised in Watertown where he attended Watertown Public Schools. Mark attended Hobart and William Smith Colleges in Geneva, NY where he graduated Cum Laude with a double major in Architecture and Art History. The combination of his upbringing and his education has given him a level of honesty, integrity, knowledge and compassion that he possess with every one of his clients.
In an effort to continually improve our service to our clients we attend educational seminars on a range of topics. As a member of the National Association of Realtors, which means that I subscribe to the strict Code of Ethics in all my real estate transactions.
We are affiliated with CENTURY 21 Commonwealth and hold an active license for the entire state of Massachusetts, which helps us to serve our clients wherever they may be, but also keeping them informed of any real estate opportunities that arise statewide.
Our office is easy to get to off Exit 17 on the Mass Pike. We are located at 161 Mount Auburn Street in Watertown, MA. Please call for directions at 617-926-5280 or contact me Mark via email at mark.madden@commonmoves.com.
"Hi Mark,
I just wanted to send you a note thanking you for all your help with my recent real estate purchase. You were very helpful in making the whole process as quick, easy, and painless as possible. As a first time home buyer I did not know what to expect. I appreciate the fact that you were open to any questions I had and I felt comfortable asking them. Your knowledge of the area was looking at was excellent (Cambridge, Somerville, Arlington, and Watertown). Having only lived in the area for a few years, I was glad you were able to point out benefits of each location such as restaurants, T access, etc. These things were very important to me when considering what property to purchase. I also appreciate you always getting back to me in a timely matter via email or phone and being on time and organized for all my tours. Overall, a great experience. I love my new place and fel confident it was a great investment. I will keep you at the top of my list for any of my future real estate needs.
-Mike U."
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"Dear Mark:
It was a pleasure working with you in purchasing my first home. You spect countless hours researching areas and homes that were acceptable to our needs and desires. Your professionalism and support during this time was essential in keeping our apprehensions at bay. It was nice to see somebody like yourself so interested in making sure that we found the perfect house for us. Even though we were not the easiest of buyers to accomodate, you made every viewing and request that we had seem effortless.
-Kevin P."
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"Dear Mark,
Kind sincere, honest, industrious, communicative, accessible, patient... words that describe you, Mark Madden, as well as a good realtor. Last but not least, you also have a great sense of humor and are relaxed enough to crack a joke to help your client feel comfortable and smile. You helped me to have fun during a stressful process; having fun is important to me.
-Janna K."
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"Dear Mark:
It gives me pleasure to write you this letter of thanks and commendation for the hard work and high level of sophistication you showed in representing me during 2007 in the sale of my property at 8 Avon Road in Watertown.
I originally chose you to represent me because I was impressed with your effort to win me as a client. Once I signed on with your office, I was consistently impressed with your tenacity and attention to detail. As we both know, 2007 was a tough time to put a house on the market and sell it at a good price. You made every effort to navigate a slow and difficult market.
From my perspective, everything about the sale of the house went smoothly. From the time I signed on with your office through the closing, you gave me good advice and took care of details that would have taken me much time to accomplish. Throughout the months you worked on my behalf you were consistently good-humored, which I greatly appreciated.
I know you will be a great success in your profession.
-Phil R."
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