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Medford MA Real Estate Market – January-October 2011

Medford MA Real Estate Market

Medford MA Real Estate Market

Wondering how the real estate market is doing in Medford?  So are we,  so we decided to pause and take a look at the Medford MA real estate market for January to October 2011.

Last year’s numbers for the same period are in parentheses.

Overall the numbers of properties sold in Medford remained stable though houses took longer to sell and the median price was down.  Average days on market increased by more than 25% and the median sales price dipped by 4% . 

Quite a few more single family houses sold this year than last but prices were down a bit.   The number of single family homes sold in Medford increased by almost 15% but the median price dipped by 3%.  On the other hand, approximately 20% fewer multi-family houses sold in 2011 than sold in the same period in 201o but the median price did not budge.

On October 31, 2011 191 properties were listed for sale in Medford.  That’s just about the same position we were in last year when 193 properties were on the market on October 31st.

Residential real estate sold in Medford – Jan-Oct 2011:

  • 382 properties (376)
  • Average days on market = 91 (72)
  • Properties sold for an average of 97%  of asking price (97%) 
  • Median price of $336,000 ($347,500)

Medford Single Family Sales – Jan-Oct 2011

  • Total sold: 195 (170 )
  • Sale prices ranged from $135,000 – $768,500  ($132,000 – $744,000)
  • Median price: $348,800  ($360,914)
  • Average days on market: 90   (73)
  • On average, houses sold for 97% of asking price   (97% )

Medford Condo Sales – Jan-Oct 2011

  • Total sold: 126  (130)
  • Sale prices ranged from $136,000 – $600,000  ($157,500 – $525,000)
  • Median price: $286,500  ($294,500)
  • Average days on market: 94  (77)
  • On average, condos sold for 97% of asking price   (97%)

Medford Multi-Family Sales – Jan-Oct 2011

  • Total sold: 61  (76)
  • Sale prices ranged from $225,000 – $660,000  ($230,000 – $635,000)
  • Median price: $415,000  ($415,000)
  • Average days on market: 91  (63)
  • On average, multi-unit houses sold for 95% of asking price  (98% )

 

 SEARCH FOR REAL ESTATE FOR SALE IN MEDFORD MASS

 

Info about Medford MA real estate market in 2011 (2010) from MLSpin

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Somerville MA Real Estate Market – January-October 2011

Somerville MA Real Estate Market

Somerville MA Real Estate Market

As we head into the holiday season real estate market activity tends to slow down a bit.  Time for a look back to see how the Somerville MA real estate market fared this year with a look at the numbers for January through October 2o11.

Last year’s numbers for the same period are in parentheses.

Approximately 7% fewer residential properties sold in Somerville this year.  Properties took an extra week to sell on average.  At the same time the median real estate sales price in Somerville increased by 6% with increases in median sales price for all property types.

Total properties sold in Somerville – Jan-Oct 2011:

  • 495 (529)
  • Average days on market = 84 (77)
  • Properties sold for an average of 97%  of asking price (98%) 
  • Median price of $410,000 ($387,000)

Somerville Single Family Sales – Jan-Oct 2011

  • Total sold: 57 (70 )
  • Sale prices ranged from $109,000 – $965,000  ($150,000 – $1,001,000)
  • Median price: $475,000  ($390,000)
  • Average days on market: 89   (70)
  • On average, houses sold for 98% of asking price   (99% )

Somerville Condo Sales – Jan-Oct 2011

  • Total sold: 309  (334)
  • Sale prices ranged from $73,000 – $1,180,000  ($150,000 – $775,000)
  • Median price: $367,000  ($357,000)
  • Average days on market: 85  (79)
  • On average, condos sold for 98% of asking price   (98%)

Somerville Multi-Family Sales

  • Total sold: 129  (125)
  • Sale prices ranged from $190,000 – $2,075,000  ($248,000 – $940,000)
  • Median price: $520,000  ($510,000)
  • Average days on market: 80  (75)
  • On average, multi-unit houses sold for 96% of asking price  (98% )

 

somerville-ma-real-estate

 

Info about Somerville MA real estate market in 2011 (2010) from MLSpin

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Real Estate Buyers Paying Cash

Real estate buyers in Cambridge are paying cashBanker & Tradesman reported in a story this week that Cambridge is one of a number of Massachusetts towns where more than 50 percent of the residential real esate sales in the first six months of 2011 were cash deals.

In the first half of 2011, 36.8% of residential real estate transactions in Massachusetts were cash sales.  This is a big jump from previous years.  In 2010, 24% of Massachusetts real estate sales did not involve a mortgage and in the years from 2005 to 2007 cash transactions only accounted for just over 12% of the market, notes B & T.

In the first six months of 2011, 53.6% of real estate purchases in Cambridge were paid for with cash. Other communities where cash transactions accounted for more than half of all sales included Edgartown, Provincetown and Brighton.

Tightened lending guidelines have reduced the number of people able to qualify for mortgages so it makes sense that cash buyers will make up a larger portion of the pool of buyers.  It also seems clear that for many well heeled buyers real estate is seen as a solid investment.

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Porter Square Condos

Porter Square Cambridge - Bikes By The T

Porter Square Cambridge - Bikes By The T

If you’re a Cambridge real estate buyer you’ll find a good variety of Porter Square condos to choose from.  In fact, since Porter Square straddles the Cambridge – Somerville line, you’ll probably want to consider options on the Somerville side of the square as well.

Porter Square is a popular neighborhood in large part because of the Red Line T station here.  You’re just one stop from Harvard Square on the subway and it’s a quick ride into Boston.  The commuter rail that goes into North Station stops here and heads out to Belmont, Waltham, Concord and Acton in the other direction.

Davis Square is a ten minute walk and the fifteen minute walk to Harvard Square takes you down a stretch of Mass Ave that’s lined with fun shops, restaurants and pubs.

The Porter Square shopping center is a big draw. Here you’ll find a large Star Market (officially now called Shaw’s I guess but forever Star Market to me), an independent bookstore Porter Square Books, a package store, Tag’s hardware and housewares store, Cambridge Naturals, a toy store and more.

What sort of condos can you find in Porter Square?  Many Porter Square condos are in converted two and three family houses.  There are townhouses nearby on Russell Street, artists’s studios on Porter Road, high end loft style buldings close by, and a number of larger buildings built over the years on Mass Ave and on some of the side streets in the neighborhood.

Porter Square condos for sale in Cambridge will appear below.  Click on the small photo for additional info and more photographs.  Want some help finding a condo to buy in Cambridge or Somerville?  Give Liz Bolton a call at 617-504-1737 or send her an email.

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Cambridgeport Condos For Sale

Cambridgeport Condos

Cambridgeport Condos

Interested in Cambridgeport condos for sale? Cambridge real estate buyers looking for a neighborhood with streets lined with trees and Victorians and easy access to Central Square, Boston, the Charles River, MIT and more will want to consider Cambridgeport. It’s a walkable neighborhood dotted with parks and playgrounds.  

Cambridgeport Condos

Cambridgeport condo buyers can choose from a variety of condominium styles.  There are units in converted Victorian houses and triple-deckers, newly constructed townhouse complexes, and lofts created from former industrial buildings. There are converted older brick apartment buildings and a 100-unit modern complex at the tip of the neighborhood near the BU Bridge.

The boundaries of  Cambridgeport are roughly Mass Ave to the Charles River and River Street to Vassar Street.  The zipcode is 02139.

Cambridgeport Condos For Sale

In 2010 75 Cambridgeport condos were listed for sale.  The median price of the 51 sales that closed last  year was $449,900.  Sales prices ranged from $225,000 to $873,000.  Properties sold on average for 98% of asking price.  These stats are for condos identified by the listing agent as located in Cambridgeport. Not every listing is identified by neighborhood so there may have been other sales not included in the data. Regardless, it does give a good sense of Cambridgeport condo values.

Cambridgeport condos for sale will appear below. Click on the small photo for additional info and more photographs. And if you see something you like – give me a call at 617-504-1737 or send me an email – I’d love to help!

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Somerville MA Real Estate Review – 2010

Here’s the last (phew!) of the end of the year real estate wrap-ups with a review of the Somerville MA real estate market in 2010.  We’ve also included the numbers from 2009 and 2008 for comparison. Following the annual numbers we’ve got the report for December’s real estate sales in Somerville.

The number of real estate sales in Somerville rose by 3% in 2010. 

Single family sales rose dramatically – by more than 20%.  The median price of single family houses sold in Somerville rose by 6%.

Condo sales in Somerville rose by a more modest 3.6%.  The median price of condos sold in 2010 dipped slightly.

The number of multi-families sold fell by 7%. The median price, however, rose by 8.5%. It’s always difficult to get a real guage on actual increases or decreases in real estate values. Much depends on the mix of inventory. When we look at what sold in 2010 we find that twice as many multi family houses in Somerville sold for more than $700,000.  There were more multi-families sold in popular – and expensive – neighborhoods like Davis Square and a number of three-deckers in good locations.

Somerville MA Real Estate Review – 2010

Welcome to the Somerville Real Estate Report

Welcome to the Somerville Real Estate Report

Total properties sold in Somerville:

  • In 2010: 595 (+2.95%)
  • In 2009: 578  (+4.53%)
  • In 2008: 553

Average days on market:

  • 2010: 78 (-10.35%)
  • 2009: 87 (-20.19%)
  • 2008: 109

Total value of real estate sales:

  • 2010: 251,500,915 (+7.69%)
  • 2009: $233,547,999 (+4.43%)
  • 2008: $223,646,177

Click here to continue reading about the Somerville MA real estate market

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Medford MA Real Estate Market-2010-Year In Review

I’ve been doing quite a few market analyses for Medford homeowners recently so I’ve been looking forward to seeing how the real estate market did in Medford for the year.  Here’s a review of 2010 real estate activity. The numbers from 2008 and 2009 are included for comparison. And if that’s not enough stats the monthly activity for December 2010 is included at the end of the post.

Overall, sales were down by 5% in Medford.  The total dollar volume of sales was up ever so slightly.

The decrease in units sold was mainly due to fewer condominiums sold this year. Condo sales were down by more than 18%. The median price of condos sold, however, rose by 5%.

The increase in the median price of multi-families sold was even more dramatic – the median price rose by more than 10%.

Medford Real Estate Market – 2010 – Year In Review

Welcome to the Medford MA Real Estate Review

Welcome to the Medford MA Real Estate Review

Total properties sold in Medford:

  • In 2010: 460 (-5.16%)
  • In 2009: 485 (+1.9%)
  • In 2008: 476

Average days on market:

  • 2010 76
  • 2009: 90
  • 2008: 112

Total value of real estate sales:

  • 2010: $163,870,078 (+0.70%)
  • 2009: $162,742,034 (-4.9%)
  • 2008: $171,111,513

Properties sold for:

  • 2010: An average of 97% of asking price and a median price of $345,000 (+6.16%)
  • 2009: An average of 97% of asking price and a median price of $325,000 (-5.8%)
  • 2008: An average of 96% of asking price and a median price of $345,000

Click here to continue reading about the Medford MA real estate market

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Arlington MA Real Estate Review – 2010

Here’s the year in review post for the Arlington MA real estate market with the 2010 numbers. You can also see how 2010 compared to 2009 and 2008. Following the 2010 wrapup are the numbers for sales in December 2010.

It was another good year for Arlington single family sales – the number of houses sold increased by more than 10%. The median price of an Arlington single family increased modestly. 

For the second year in a row the number of condos sold in Arlington dropped.  However, the median price of condos that sold in 2010 increased by 10% over 2009. I haven’t dug deep in the condo sales numbers but my hunch is that the big increase in the median price has more to do with fewer sales of inexpensive condos pushing the median up rather than a big jump in values.

Multi-family sales numbers in 2010 looked very similar to 2009.

Arlington Real Estate Market – Year In Review

Welcome to the Arlington MA Real Estate Report

Welcome to the Arlington MA Real Estate Report

Total properties sold in Arlington:

  • 2010: 514 (+3.01%) 
  • 2009: 499 (+3.53%)
  • 2008: 482

Average days on market:

  • 2010: 53 (-11.67)
  • 2009: 60 (-15%)
  • 2008: 69

Total value of real estate sales:

  • 2010: $248,959,218 (+12.88%)
  • 2009: $220,552,380 (+1.14%)
  • 2008: $218,078,422

Click here to continue reading about the Arlington real estate market

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