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

The real estate market in Watertown, MA has only had minor changes during the past week. There has been a slight drop in inventory in both Single Family homes and Multi-Family homes, while the condominiums inventory has remained constant. Both single family homes and condominiums have seen slight decreases in the average list price, but multi-family homes have has a slight increase in their average list price. An increase in average list price during this season does not make a lot of sense. It all comes down to motivation during this season. If one is motivated to sell, then the agent and seller must discuss realistic listing prices or else the home will languish on the market.

Condominium home sales increased their total solds this year by 2, up to 222 year-to-date. However, last year at this time there were 292 home sales, which is down 70 sales since last year. The depreciation and appreciation trends remain the same as last week when condominiums had appreciated by a little over $2,000 and Multi-family homes were the largest in depreciation at -$16,652.

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.

As promised, here is the second part of my Holiday Marketing Post. In the first part I went over the 10 Reasons to List Your Home During the Holidays. In this post I want to give some tips to homeowners to win over a holiday homebuyer during this time of year and give a few of my marketing ideas that I will use with my holiday listings.

Tips For You, The Homeowner

• Curb appeal. First impressions are important. If you live in a snowy area, make sure walkways are cleared. Or if late fall leaves are littering the ground, be sure to clear them away. Also make sure the path to the stairs is free from ice.
• A few exterior holiday lights or decorations shows pride in ownership and seasonal cheer, but keep in mind that while exterior lights are beautiful at night, they don't add anything during the day when potential homebuyers will be looking at your home so you don't want to overdo it. Another thing to consider: would-be buyers may view it favorably if the home is brimming with lights - it shows unity and neighborliness - so you'll want to find the perfect balance.
• Trim outdoor trees so enexpected winds don't knock down branches that could damage your home or hurt anybody.
• Place a nice welcome holiday mat outside your front door.
• Make sure your door area is clear from bicycles, toys, or parcels left by the mail carrier.
• Hang a festive wreath on your door.
• Play holiday music in the background.
• Keep the house cozy. Entering a cold house could leave a lasting chilling impression. Instead, set the thermostat at a comfortable temperature.
• A toasty fire. If you're only stepping out while an agent is showing your house, start a fire in the fireplace. Nothing says home more than a nice cozy fire, but never leave a fire unattended.
• Your tree. This year you'll need to think about your tree more than you usually do. For starters, if your house is on the small side, get a smaller tree. You don't want the tree to appear to take over the entire living or family room. Likewise, you don't want to cram too much furniture into a room just to get the tree to fit. Remove furniture if necessary.
• Keep decorations on the conservative side. Not all home shoppers may celebrate the holidays in the manner you do. You don't want to overwhelm anybody with abundant displays of holiday cheer. You want your house to be noticed, not your decorations.
• If your house is being viewed in the evening, let your agent know which tree and other holiday lights should be turned on. And be sure the agent turns the lights off or you have a plan to be home immediately following the showing.
• Bake holiday cookies and treats often. The enticing smell will be welcome to those viewing your houses (and I'd love a holiday cookie too!).
• Be especially careful about ensuring your home security system is turned on after agents show your house, especially if you have gifts under your tree.
• Windows. Make sure your windows are sparkling clean.
• Let the light in. Open blinds and curtains and turn on interior lights to reduce the dreary lighting that pervades in the dark winter months.
• Leave some holiday treats and hot chocolate for your guests. (Just thought I'd mention this one again!)

To ensure that your home is available to buyers who are looking during the holiday season take advantage of the Smart Homes Boston and Century 21 Commonwealth Holiday Marketing Program:

• An emphasis on internet marketing with multiple photos and slide shows
• Virtual open house available on the internet instead of public open houses during the holiday season
• Showings by appointment with 12-24 hours notice during the holiday season
• The For Sale sign may be removed for the holiday season
• A holiday season mailer to the relocation department highlighting the continued availability of the property for the relocating buyer.

The Smart Homes Boston Virtual Open House is a video recorded tour of your home by me as if the buyer was there. This will allow buyers to gain more knowledge of the home prior to setting an appointment. By doing so, we are creating buyers that are truly interested in your home and that much closer to a great holiday surprise... AN OFFER! Click below to learn more about The Smart Homes Boston selling services that will wrap your home up and put the perfect bow on top!

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

There has been a slight decrease in inventory "across the board," which is a good thing for sellers in each category. Less competition means there is a more likely chance one will receive closer to the listing price. That requires, however, that the listing price be realistic from the start! It is incredible to see these statistics and notice some of the underlying problems with our real estate market.

First, let me show you what is right about our real estate market. Single family homes sales have appreciated by $30,409 year-to-date over last year. For a "down" market, that is a substantial appreciation. The amazing part is that even though the appreciation increased by $1,018 since last week the average listing price has decreased by $12,937 in the same time period. Just because a category is appreciating slightly does not mean it needs to increase its listing prices. Agents should be studying these market statistics in order to understand that market and give realistic expectations to sellers and buyers alike.

On to the what is wrong with our real estate market. Condominiums and multi-family homes have depreciated by -$107,290 and -$$22,761 respectively. However, between last week and this week both have shown increases in their listing prices. Condominium homes' listing prices have risen by $14,038, while Multi-Family homes' listing prices have risen by $20,288.

With fewer sales year-to-date and an ever expanding depreciation, sellers should be listing their home for what the market is telling them it is worth and not over-inflating the listing price.

If you are interested in learning more about buying opportunities in Belmont or you are interested in a FREE market analysis for your Belmont home, please email me at mark.madden@commonmoves.com

If you are interested in learning about more Market Statistics or would like to be emailed more indepth 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.

The advantages of putting your home on the market during this time of year can oftentimes outweigh the disadvantages. During the holidays, sellers will not see as much traffic from people who are "just looking". Buyers that are looking tend to be more serious, and they have more time to shop together which is an advantage over other times of the year. Sellers may get dismayed easily, as a result of the slower traffic; however, they should keep in mind that it's the quality of buyers versus the quantity. In addition, while families with children often prefer to wait until summer to move in order to avoid relocating during the school year, the break between semesters is a convenient time for moving as well. For both buyers and sellers, an advantage to holiday real estate transactions is that real estate agents, as well as lenders, home inspectors, appraisers and title companies have more time to spend with clients than at busier times of the year.

Homes that are decorated for the holidays can move buyers to look past any flaws in the home and imagine themselves living in the house. An important tip for sellers is to be tasteful in holiday decorations, as there is the potential for alienating buyers with overwhelming accessories.

The important thing to remember when you are contemplating whether to sell your home is your motivation. If you need to move, regardless of the time of year, it's always a good time to put your home on the market!

The following are tips to make the most of the holiday season when marketing your home:

1. November and December buyers are usually serious
2. Job transferees use the holiday to house hunt because January is the biggest transfer month
3. Investors usually want to close escrow by year-end for tax purposes
4. Nearly half of homebuyers don't have children living at home; there's no need to wait for school to let out
5. Remodeling, decorating, appliance installation and other services are more available and at less of a premium
6. Lenders aren't as busy and can process home loans faster
7. Homes show well when decorated for the holidays
8. Showings will be fewer and less intrusive, but more likely to be fruitful with motivated, qualified buyers
9. There is less competition with fewer homes on the market
10. Interest rates are low, giving buyers more spending power

Coming Soon: Smart Homes Boston and Century 21 Commonwealth's Holiday Marketing Plan for You!

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.

This week we saw an increase in the condominium market's active volume rising from 71 last week to 78 this week. However, both condominium homes and multi-family homes have had an increase in listing price. Single family homes were the only category to drop in average list price, while increasing inventory by 1 home. The average list price is down from $547,411 last week to $518,445 this week which is a substantial and much needed drop.

All housing categories has a slight increase to their number of sales year-to-date. Single family homes have now cut their depreciation by more than half from last week. Last week, year-to-date, the single family home depreciation was at $29,087 and now the depreciation has decreased to $12,341.

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.