Today I sharpened my pencil and did some number crunching on current market conditions in Arlington. Although there are some real estate markets that have felt a major impact from the current recession, Arlington Massachusetts isn’t one of them.
Since looking at numbers in a vacuum doesn’t help you to compare, here is what the market looked just about a year ago:
As you can see from above, the average single family home price in Arlington has risen since last year. The multi family market has taken the biggest hit with prices falling pretty dramatically, but this is also the smallest segment of the Arlington market. During the real estate boom, many multi family homes were converted into condos, so there aren’t that many 2 and 3 family houses left in the city.
The average Days on Market hasn’t changed much during the last year. Currently single family homes are taking an average of 46 days to sell. Condos are on the market for an average of 72 days while multi family homes take an average of 49 days to go under agreement.
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