The black line that almost looks like an EKG reading of a heart rate shows you the median real estate value for single family homes in Arlington over the past year. There have been some ups and downs in prices but for the most part, real estate prices have stayed relatively level during the last 12 months.

The orange line traces the average days on the market that it takes single family homes to sell in Arlington. It’s currently taking about 10 days longer to sell a house today than it was at this point last year. Properly priced houses are selling in an average of 2 months – a very respectable time frame. We saw a very typical spike during last winter – but the exorbitant amount of snow we received made many would be home buyers hold off until the spring thaw so the average days on market lengthened to almost 4 months.

If you’d like more information about real estate values in Arlington, just call me at 781-608-4692 or email me.

The real estate market in Melrose has slowed down, but it’s still doing much better than most of the rest of the country. Let me show you:

The Average Days on Market are also showing that sales of single family homes remain brisk while condos and multi family homes are taking longer to sell.

Average Days on Market as of February 26, 2009 (based on the last 6 months of sales)
Single Family Homes – 97 days
Condos – 149 days
Multi Family Homes – 162 days

Let’s compare this to what was going on in November:

There are 2 big changes that we see in the real estate stats:

Just like our New England weather, the real estate market is constantly changing. It will be interesting to see what spring brings!

It’s been a little over 2 months since I showed the the last market update for Medford and I thought it would be interesting to compare what was going on in the market at the end of October versus now at the very beginning of January.

The first thing you’ll notice is there are significantly less single and multi family homes for sale right now. This is to be expected because many people choose to take their properties off the market during the holidays and wait until the spring real estate market begins. The condo market is the exception to this rule and there are currently more condos for sale in Medford MA than there were in the fall.

The average sale price for single family homes in Medford has come down about $8,000 while the average sale price for condos has remained steady. The surprise is that the average for multi family sales price in the city has increased by approximately $5,000.

When you look at the absorption rates, you’ll see that single family homes are selling a bit quicker. The multi family home market has taken a giant step forward and the current absorption rate of 3.7 months reflects a market at equilibrium and not a buyer’s market. The condo market, though, has slipped and is showing a buyers’ market with 6.5 months of inventory currently available.

If you’d like more specific information for your situation, just let me know and Happy New Year!

Although 2 and 3 family homes are only a small percentage of the properties in Stoneham, this segment of the market has the highest change in the amount of time taking properties to sell. Although there are 4 less multi family homes for sale this year versus the same time last year, it is now taking on average 2 months longer to put these homes under agreement.

There have been changes in the condo market in 02180 as well. There are currently 43 condos for sale right now where there were only 22 condos for sale at this point last year. It is now taking about a month longer to sell condos in Stoneham as well with days on market now up to 190 days.

The Stoneham single family market has remained a steady market over the last year. There are currently 50 single family homes for sale right now and according to MLS, there were 50 single family homes for sale this time last year. The average days on market has also stayed the same at 136 days in order to have an accepted offer on a property.

Winchester’s housing inventory is primarily made up of single family homes. As you can see from the chart above, both the single family homes and condos in the city are still selling in an average time frame and the real estate market for these properties is pretty much at equalibrium. Winchester doesn’t have many multi family homes (at least those that haven’t been converted into condos during the past few years). Unlike most of the surrounding communities where multi family homes sell for more than single family homes, the reverse is true in Winchester and the numbers are showing us that it’s still a buyers’ market for multi family homes in 01890.

Here’s the latest on what’s happening in the market. (The sold statistics are for the last 6 months.)

What this information shows us is that the single family market is doing well, however the condo market is continuing to struggle in the city. If we look at the average Days on Market for all sold properties, we see more confirmation:

Single Family Homes – 77 Average Days on Market
Condos – 159 Average Days on Market
Multi Family Homes – 137 Average Days on Market

Would you like more information about buying or selling a home in Melrose? Just ask – it’s what I’m here for!

We’ll discuss:

• How Does The Current Market Impact My Plans To Sell?
• 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.

A Real Estate Attorney Will Answer Your Questions

John Masciarelli, a local real estate attorney, will be joining us to answer your legal questions about selling your property.

Seating is limited. To reserve your space, please call me at (781) 446-9720 or email me by September 21st. If you’d like to be a part of the area sales review, please include the address of your property.

The seminar will be at the Salem Street Karate Studio, 235 Salem Street (Route 60) Medford.

Let’s jump in with an example of Single Family Homes in Medford

Right now there are 86 Single Family Homes for Sale in the city of Medford, MA. If we didn’t allow any new properties to be put on the market, it would take a little over 4 months to sell all of the homes currently for sale.

If you compare this to the absorption rate from last year, you’ll see that our market is improving because about a year ago, the absorption rate was over 8 months.

Thanks to those of you who came to the seller’s seminar. We had a celebrity in our midst – Gina Ghioldi, the real estate attorney who came to share the legal side of selling with us was on NECN on Wednesday morning!

I hold my seminars each Spring and Fall and it’s a nice, stressless way for us to meet and to be able to get your real estate questions answered, whether you’re thinking of selling or not.

If you couldn’t make it this time, don’t worry, there’ll be another one in March. In the meantime, feel free to email if you have a question and don’t want to wait.

We’ll discuss:

• 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.

A Real Estate Attorney Will Answer Your Questions

Gina M. Ghioldi, P.C., a local real estate attorney, will be joining us to answer your legal questions about selling your property.

Seating is limited. To reserve your space, please call me at (781) 446-9720 or email me by October 6th. If you’d like to be a part of the area sales review, please include your address.