Arlington By the Numbers – February 2009 Real Estate Sales in Arlington

The Arlington Real Estate Numbers for February 2009:

Arlington Massachusetts Real EstateReal estate sales in Massachusetts take about six to eight weeks on average from offer to close. The February sales data for Arlington, MA in February reflect real estate market activity in December and January.  Here are Arlington’s February numbers: 

91 properties were on the market in Arlington on February 28, 2009. The lowest priced property was listed for $137,500, the most expensive for $1,199,000. Average days on market was 103.

16 properties sold (closed) in Arlington during February with an average sales price of $539,256.  The median sales price was $515,000. Average days on market was 107.

7 Arlington single families sold in February.  The least expensive sale was for $340,000. The most expensive house sold for $1,009,597. The median price for a single family house was $575,000.  Average days on market was 168.  Houses sold for an average of 100% of asking price.

7 condominium sales closed in February. The least expensive condominium sold for $158,000.  The most expensive Arlington condo sold in February closed for $525,000.  The median condo sales price was $425,000.  Condos sold for an average of 96% of the asking price.

2 multi-family sales closed in February, one for $570,000 and one for $700,000. The two multi-families sold for an average of 95% of list price.  Average days on market was 18.

Total Arlington residential real estate sales volume closed in February was $8,628,097.

See also:  Arlington Real Estate Market Activity in January 2009

Information based on residential sales data in MLSpin.

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Condos, Condos Everywhere – Arlington Condominiums

Arlington, MA Condominium Buildings and Styles

New residents of Arlington, MA are drawn to the town for its restaurants and shops, the parks, the Minuteman Bike Path, the proximity to Boston and more. Not quite the suburbs – not quite the city – just right for many. And if you’re in the market for a condo, Arlington has a wide variety of choices.  Here’s an idea of some of the condominiums you’ll find in Arlington, Massachusetts.

Classic Brick Buildings

The Irvington Condos in Arlington

The Irvington Condominiums

The Irvington on Pleasant Street and the condos at 230 Massachusetts Avenue are two examples of classic early 1900s buildings that were converted to condominiums.  The units are charming with high ceilings, hardwood floors, period detail and even, at the Irvington, fireplaces.  A one-bedroom unit was recently listed at 230 Mass Ave for $229,900.  The most recent sale at the Irvington was five-room, two-bedroom condo that sold for $400,900 in 2006.

Arlington also has two old brick school buildings that have been converted to condominiums – the Cutter School on School Street and the Locke School on Park Avenue.  The Cutter School was converted to condos in the 1980s and many of the units have interesting layouts. A two-bedroom at the Cutter School closed for $380,000 in Fall 2008. Many of the units at the Locke School have super high ceilings and those amazing, large schoolhouse windows. A one-bedroom condo with renovated kitchen sold for $315,000 in 2008.

Arlington Condo Buildings from the 1960s to the 1980s

Arlington has a number of good-sized condominium complexes in buildings that date from the 1960s to the 1990s.  Many of the buildings have elevators, most have parking. Some can seem a bit dated but are still on the modern end of the spectrum of Massachusetts housing.  In Massachusetts “modern” can often mean the 1970s when compared to much of the housing stock.  Some of the choices include:

Colonial Village was built as apartments in the early 1960s and is close to Arlington’s swimming hole -the Arlington Reservoir or “Res”.  There are 144 one and two-bedroom condos spread out in a dozen buildings (12 x 12 – a gross!).  A two-bedroom with the original kitchen and bath sold quickly – it closed 20 days after it was listed – for $158,000 in 2009. Looks like that was a bargain – other units on the second or third floor have sold for more.  The complex has an outdoor pool and parking.

The Brentwood in Arlington Center was built in the 1970s and has more than 100 units.  A 4th floor one-bedroom condo at the Brentwood is currently listed for $199,000.  The lobby has a retro feel and there’s an elevator in the building.

The Millbrook Condominiums were built in 1971 and are on Mass Ave not far from the Blue Ribbon Diner. The association consists of two buildings – one in front with traditional layouts and balconies and another set back from the street with loft-style units. These condos have a two-story living room and stairs to a balcony bedroom with adjacent bath. I’ll never forget my first visit to the Millbrook Condominiums.  It was spring and though the sliders were all closed the sound of the rushing water from the brook was mesmerizing.  It reminded me of one of my favorite stream-side camping sites from childhood and I was sold – someday I’ll sell all my stuff and retire to a one-bedroom at the Millbrook.  A brook-side unit sold for $235,000 in 2008.

Spy Pond Condos

Spy Pond Condos

The Spy Pond Condominiums on Hamilton Road were built in the 1980s.  The condo buildings are flanked by the bike path on one side and Spy Pond on the other. Pond-side units have beautiful views of the lake and picnic tables for residents sit by the shore. The most recent sale was a one-bedroom on the bike-path side that sold for $207,000 in 2008.  The last pond-side penthouse two-bedroom to come on the market sold for $535,000 in 2005.

Watermill Place was built in 1988 and has over 100 units.   These condos have central air conditioning, in-unit laundry, garage parking for many units, and a fitness room with exercise equipment.  Two Watermill Place condominiums are currently on the market – a one-bedroom for $259,000 and a two-bedroom for $319,900.

Condominiums in Multi-Family Buildings

Many of Arlington’s condominiums have been created by converting multi-families into condos.  Condo buyers will find varying levels of quality in these units – some will be close to rental quality, some have undergone modest renovations, and others have been gutted and renovated with quality finishes.  These buildings were usually constructed between the mid to late 1800s through the 1930s but renovations can transform them into units that will meet the standards of buyers who prefer more modern condos styles and amenities.   Condos in two and three unit wood frame buildings typically have between two and four bedrooms, with the larger units usually found on the second and third floors of two-families.   The diversity of quality and size is reflected in the sales prices which ranged in 2008 from $193,500 to $725,000.

New Construction – Arlington Adds to the Condo Inventory

The real estate boom of the last few years meant that a number of new condo developments were built in Arlington.  New condo complexes include:

Russell Place is a forty-unit development built in 2002 in Arlington Center near the bike path.  There’s a variety of styles among the units – townhouses, flats and lofts. A two-bedroom, 2.5 bath townhouse sold in 2008 for $530,000.

Avenue 264, a 27-unit condo building, was built on Massachusetts Avenue near the Capitol Theatre in 2005. The building has an elevator and the condos have central a/c, hardwood floors, in-unit washer/dryer, and garage parking.  A two-bedroom, two-bath condo sold in 2008 for $415,000.

A few blocks further down Mass Ave at the corner of Mill Street a development of 19 free standing townhouse condos, Heritage Square, was built in 2004. A three-bedroom townhouse on Mass Ave sold for $610,000 in 2008 and earlier in the year a larger unit on Mill Street sold for $675,000.

There’s something for every condo buyer in Arlington, including many more buildings than you see here.  If you would like more information about Arlington condominiums remember – I’m just a phone call or email away!

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Cambridge Real Estate – New Listings Tour – Cambridge and Somerville

Every Wednesday the Cambridge Coldwell Banker Real Estate agents tour the new listings coming on the market.  Today was a great tour.  There were 15 properties on the tour and among them some real gems.  Here are my favorites:

Avon Hill Mansard Townhouse

avon-hill-condoWe started the tour at a very special property – a townhouse condominium in a largely unspoiled Victorian mansard duplex on an Avon Hill side street.  Beautiful period detail, high ceilings, and wonderful views of the surrounding Avon Hill Victorians and backyards from every window.  Most will opt to update this three-bedroom townhouse but the price of $799,000 in this desirable neighborhood struck everyone as a very good buy.

Cambridge Single Family Homes

One of the highlights of our tour was a single family home on Avon Hill.  Essentially new after a complete transformation in 2006, this house is exquisite. New houses or gut renovations are not usually my personal favorites but this house is exceptional.  As I walked through it, accompanied by a chorus of ooohs and aahs from my fellow real estate agents, the Not So Big House books by Sarah Susanka came to mind. Not that the house is small – with four bedrooms, four levels of living space, and over 3500 square feet it’s generously sized – but the fine finishes and exquisite detail remind me of Susanka’s emphasis on quality.  From the beamed ceiling in the living room, the unusually wide staircase, to the perfection of the kitchen and baths – this house is a delight.  Priced at $2,325,000 and one of the nicest Cambridge single family houses I’ve seen in a long time.

Most days the Avon Hill house would be hard to beat but we weren’t done yet.  I’m an old house enthusiast and a huge fan of unspoiled antique houses.  As we walked into the next house on tour, a 13 room, 6 bedroom Victorian, my colleague exclaimed “Now this  is what it’s all about.”  This absolutely lovely quintessential Cambridge home sits on a quarter acre lot on a side street near Brattle Street and the Charles River in West Cambridge.  A grand old home, it has wonderful period detail, elegant formal rooms and sweet and cheery bedrooms. Gracious and inviting, this is the house you think of when you visualize an old Cambridge manse.  Well loved for decades, the next owners will be fortunate to call this house home.

Somerville Condominiums

Somerville CondoWe saw a variety of condominiums in Somerville, Watertown, Cambridge and Arlington on tour. The standout for me was a spacious six-room, two-bedroom condo on Winter Hill in Somerville.  Somerville  has several streets with really beautiful Victorians and Adams Street in Winter Hill is one of them.  This condo, one of five condominiums spread out in the house and adjacent carriage house, is the crown jewel of the association at 60 Adams.  Walk across the wide front porch through the main door of the house – now the private entry to the condo – into an enormous foyer.  Inside, the Victorian golden oak detail is jaw dropping – a built-in bench next to the fireplace in the living room, thickly framed stained glass panels in the formal dining room, columns, pocket doors, and a massive built-in china cabinet with leaded glass doors.  The kitchen is scrumptious – a bit updated, a bit vintage – very usable and completely charming.  60 Adams Street, Somerville is a dazzler and is coming on the market for $424,900. 

Arlington and Watertown Condominiums

We also saw two condos today that are great options for first-time buyers.  One is a newly renovated condo in a brick four-unit condo building in Watertown.  Filled with light, open and bright, this two-bedroom condo with study has a gorgeous kitchen and new bath.  The developer did some very nice detail work and this condo seems exceptionally well priced at $314,000.  If you’re looking for a Cambridge condominium you might want to include this Watertown condo in your search since it’s just off Mount Auburn Street near the Cambridge line.

Another excellent first-time buyer option was a three-room one-bedroom condo in a classic brick building in Arlington near the Capitol Theatre.  Charm and character, hardwood floors and parking for $229,900 and you can hop on the 77 bus to Harvard Square.

I tour new listings all week long. Check back often for the latest and greatest.  See a property you like?  Need more information?  I’m just a phone call or email away!

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Cambridge Real Estate – Weekly New Listings – Cambridge and Somerville Condos

Every Wednesday Cambridge Coldwell Banker agents tour the new real estate listings.  It’s a great opportunity for agents to see the new inventory and for sellers to have plenty of agents through their property at one time.

It was a beautiful day for a tour today – sunny and relatively warm. It felt like spring! 

We saw a variety of Somerville and Cambridge condos on today’s tour. There are some wonderful condominiums coming on the market this week: Read the rest of this entry »

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Arlington Real Estate Market Statistics – January 2009

The Arlington Real Estate Numbers for January 2009:

Arlington MassachusettsThere were 68 properties on the market in Arlington, MA on January 31, 2009. The lowest priced property was listed for $138,500, the most expensive for $1,229,000. Average days on market was 132.

25 properties sold (closed) in Arlington during January with an average sales price of $485,720.  The median sales price was $455,000. Average days on market was 101. Read the rest of this entry »

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Cambridge Real Estate – Weekly New Listings Tour – Cambridge – Arlington – Somerville

Our office tours new listings every Wednesday morning.  This morning it was hard to be enthusiastic – 18 degrees, more snow, fewer parking spaces, and the prospect of putting boots on and off at every property was enough to make me want to stay at home where it was warm.

New Listings Tour

But I love touring new listings and I was happy to see we had 15  properties on the tour.  The actual breakdown was 11 condos3 single families, and 1 multi-family.  Since we’ve been in a period of low inventory and it’s been difficult for buyers to find what they want I was delighted to see plenty of new listings on this tour. Read the rest of this entry »

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Arlington Condos – Just The Facts

The Condo Market in Arlington, MA

 
Highest price paid for a condo in Arlington: $780,000 in 2005 for a free-standing townhouse condominium in Arlington Center.  
 
Least expensive condo sold in 2008: $95,000 for a two-room, 394 sq.ft. unit
 
Most expensive condominium sale in Arlington in 2008: $725,000 for a three bedroom, 2.5 bath condo in an historic house on Pleasant Street
 
Average Arlington, MA condo sale price in 2008: $372,917
 
Median sale price in 2008: $353,625
 
Number of condos sold in Arlington:
  •     In 2008:  226
  •     In 2005:  303
  •     In 2000:  159
  •     In 1998:  133
 
Condominiums make up about 20% of the individually owned housing inventory in Arlington, Massachusetts.  Condos can be found in buildings all over town – in converted two or three-family houses, in classic, older brick buildings, in former schoolshouses, in converted apartment buildings, in high-rise buildings, and in newer townhouse style developments.
See Arlington Condo Buildings and Developments for more information about the types of condos you’ll find in Arlington.
Want to know more? I’m just a phone call or email away!
 

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