The black line shows the median sales prices of single family homes in Arlington and the orange line shows the number of single family homes for sale. We normally see the number of homes for sale go down in the summer and winter. Last year the level of inventory decreased in the summer but didn’t start increasing until this spring. Even through we are seeing more single family homes coming up for sale in Arlington, we’re still below the level of inventory from last spring. This has created a very hot real estate market in Arlington. Houses that are priced properly are selling very quickly and many homes have multiple offers and bidding wars.

Prices have increased a bit in the last few months but the big news is the level of inventory (the orange line). Notice that in the winter there was a sharp decrease in the number of single family homes for sale in Medford. This is a very typical seasonal change. However, normally in March sellers start putting their properties on the market as the spring selling season begins. Here we are in May and the big rush of spring homes still hasn’t started. Combine this with the continuing low interest rates and we’ve got an explosive situation. Because of the shortage of homes for sale, properly priced home in Medford as selling very quickly. The last few homes I’ve sold in Medford have had multiple offers.

The real estate market is constantly changing so stay tuned to see what will happen with Medford houses next!

The interesting part of the story is the orange line which shows the percentage change in inventory. We’re in the height of the spring market yet inventory is down 30%.

If a house is priced right in Stoneham, it won’t be on the market for long.

The orange line shows the level of inventory. Typically many sellers put their condos on the market in the spring because historically spring is the busiest time in the real estate market when the most number of buyers are looking to buy a home or condo. This year we are having a busy spring market and there are many buyers looking to purchase but inventory is low – not enough owners are choosing to sell. After seeing level prices for a while, we’re now seeing an increase in sales prices. Multiple offers are common in Cambridge once again. Has the real estate downturn ended or is this just a temporary spike? Stay tuned to see what happens!

When: Tuesday, March 20th from 7:00 – 9:00 PM
Where: Medford Fire Station 5
Zero Medford Street (at the intersection of Medford Street and Main Street)

John Masciarelli, a local real estate attorney and I will discuss:

• Foreclosures and Short Sales (and how they’ll affect your plans)
• How Do We Determine Value?
• Can I Sell My Property Without Paying Capital Gains Taxes?
• How Do We Prepare Our Home For Sale?
• How Do We Sell Our Investment Property With Tenants?

For those who pre-register: we will review the most recent sales in your area and discuss how these sales impact your property selling plans. Sign up by March 19th by getting your free ticket below or by calling (617) 544-1094 or email me. Please include your property address if you’d like to be included in the area price round up.

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Electronic signing is easy and can be done on any computer or smartphone. The document remains clear and easy to read. As an extra bonus – this also saves paper. We used to need 4 copies of each Purchase and Sale Agreement (which run anywhere from 7 – 20 pages each). With electronic signatures, everyone receives an electronic version so no trees are cut down :)

I’ve had clients sign and accept offers on their properties while in Europe, on family vacations and even on the T commuting home from work!

The black line which shows the median sales prices. Not surprisingly, prices peaked in July – the reason why I say it’s not a surprise is because home prices are negotiated when the buyer’s offer is accepted and it takes about 2 months from then for the closing to happen and the sales price to be made public. This means that sales in July were from prices agreed upon in May during the spring market which is historically the most active selling season of the year.

Because of last year’s extremely snowy winter, the real estate market stalled for a while. Stay tuned to see what 2012 will have in store for real estate prices in Somerville!

Location + condition! Meticulously maintained 1 owner home on quiet, dead end street. Picture relaxing in front of the fireplace on a cold winter night. The kitchen features plentiful cabinets and opens to the dining area. The house has been freshly painted & the beautiful hardwood floors just refinished. One bedroom has sliding glass doors to the deck. Great yard ready for summertime fun. The storage shed & all appliances included as gifts. 1 mile to restaurants & shops in Woburn Square.