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.
Between last week and this week there have been some minor difference to the market in Watertown. The number of Multi-Family homes on the market has increased by 4 since last week. This is great news for investors because in the 3rd quarter of this year, investment property purchases spiked by 40%.
However, since last week there has been an increase in listing prices for all three housing sectors. This is surprising to me because we are heading into the winter months, which is typically a slower market. Prices should not deter buyers, because a qualified real estate agent will "pull" comparable properties in order to show the realistic selling point of a property that is of interest.
There has not been a change week-to-week in number of sold homes in all three housing categories for 2008. In 2007, the number of condominium sales rose by 8 between last week and this week. This is significant because the total appreciation year-to-date has slightly rose also.
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 knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton, MA market statistics weekly on Fridays.
The market in Newton has seemingly slowed in comparison to last year at this time, but there are a few bright spots as well. Average sales prices have dropped significantly between 2007 and 2008 in single family homes, condominiums and multi-family homes. In single family home sales there have been 102 less sales year-to-date, which is a pretty steep number. Inventory is still doing well though, hovering around 150 homes on the market. This means that either homes are being overpriced or potential buyers are "waiting for the market to bottom out."
A bright spot is that condominium home sales have dropped the least and have almost identically market inventory. With 245 sales year-to-date the condominium market seems to be close to the level of last year.
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 knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Waltham, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Waltham, MA market statistics weekly on Thursdays.
The Waltham housing market has slowed for the average consumer in almost every category. Both average sale prices and median sale prices have seen a decrease since last year at this time. However, there has been an increase in total number of sales in multi-family homes. This comes as multi-family homes have seen a decrease of -$74,313 in average sales price. According to the Massachusetts Association of Realtors, the state has seen an increase in investor purchases by 40% in the 3rd quarter. That statistic alone would help to understand the quick spike in total volume for multi-family home sales.
The inventory has dropped, but not in astronomical numbers. There is still a decent amount of inventory available. With the large decrease in sales prices, it may be no better time to purchase in Waltham because, in the end, any home owner is buying an investment property. The hope is that if you stay for 5-10 years you will see an increase on your initial investment.
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 Crossroads on the Charles is a complex of 66 condominiums in Watertown. The Crossroads on the Charles is located at 199 Coolidge Avenue. The condominiums were constructed in 1986, so overtime past owners have added their own interior touches which create different price points per unit. The units comes with either 1 or 2 garage spots in the underground parking garage.
Units & Pricing
The units are almost all 2 bedrooms, but range in size from around 1,250 square feet to 1,700 square feet. The units on the back side of the building have patios which overlook the Charles River, creating a higher list price. All units have washer and dryer hook-ups within the unit. Most units also have at least 1.5 baths, with some units having 2.5 baths.
The monthly condominium fee ranges from around $900 per month to $1,050 per month depending on size of the unit. The condo fee includes: Heat, Hot Water, Water, Sewer, Master Insurance, Security, Swimming Pool Maintenance, Elevator, Exterior Maintenance, Landscaping, Snow Removal, Sauna/Steam Room, Clubroom, Walking/Jogging Trails, and Extra Storage.
Sales History
The number of sales over the last ten years in MLS transactions has ranged from 0 in 1998 to 7 in 2007.
Currently there are 5 condominium for sale at the Crossroads on the Charles with an average list price of $513,180. Year-to-Date, at 199 Coolidge Avenue, 1 unit has been sold for $420,000 and had been on the market for 73 days. For more information on the current listings of to be notified of any new listings at the Crossroads on the Charles please email me at mark@smarthomesboston.com
Area
The Crossroads on the Charles is located with easy access to Storrow Drive and Memorial Drive. It provides great access to the walking trails of the Charles River as well. From the building's common patio there is a wonderful view of the Boston skyline.
Click Below to see my past Go Inside articles:
In an effort to be knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Brighton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Brighton, MA market statistics weekly on Wednesdays.
Looking at these stats, it would seem as though the market has slowed in Brighton. Inventory is down in all three categories and the average sale price is down in all three categories as well. However, that would not tell the entire story. Although the average sale price is down, the median sale price is actually up in two out of the three housing sectors. For single family homes, the median sale price has risen from $465,000 in 2007 to $477,750 in 2008. The same for condominium homes, in 2007 the median sale price was $265,000 and that has risen to $269,900 this year. For multi-family homes, the median sale price has dropped only $5,000 from $590,000 in 2007 to $585,000 this year.
Also, another good point to notice is that even though inventory is slightly down in the multi-family homes sector, the total number of sales has only been reduced by 2. There is a much larger discrepency in the condominium sales and single family sales.
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.
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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