I’ve been previewing a lot of Watertown properties recently so it seems like it’s high time for a Watertown MA real estate market review. As we head into the holidays and real estate takes a bit of a pause let’s see how real estate sales did in Watertown in 2012.
Properties on the Market in Watertown MA
As of today there are just 52 residential properties on the market in Watertown MA that are listed on the MLS. This time of year tends to be a low point for listings as most sellers opt to wait until after the 1st of the year once we’re in the holiday season. But inventory is particularly low this year. Last year at this time there were 82 Watertown properties listed for sale in the MLS. Inventory has dropped by 36.6%.
Pickings are even slimmer than these numbers suggest. 16 of the 52 properties are actually under agreement. They’re listed as “red active” – still showing as active but listed in red on the agent’s view because the seller has already accepted an offer.
Watertown MA Real Estate Sales
355 residential properties sold in Watertown in the last year. These properties were on the market an average of 72 days. On average, Watertown real estate sold for 98% of the asking price.
The year before, 313 properties sold in Watertown. Despite limited inventory, the number of real estate sales is up by 13%. Days on market have decreased 20% and properties are selling for closer to asking price than they did a year ago when they on average sold for 96% of list price.
Single Family Houses Sold in Watertown
Watertown single family house sales held steady. In the last year 91 houses have sold vs. 88 in the year before. Average days on market is down to 65 days from 73 days the year before.
The median price for a house sold in Watertown held steady as well – $429,910 vs. $431,250 the year before. What did you get for $430,000? In 2012 that bought you a three bedroom, two bath Cape.
Condo Sales in Watertown
Lots more condos sold this year than last. 204 condos have sold in the last 12 months vs. 157 in the year before. Days on market went down to 83 from 118 the year before. The median price of a condo sold in Watertown in the last year was $328,500.
What did you get for $328,000 in Watertown? In 2012 it bought you a 1270 sq.ft. two-bedroom condo with two baths and garage parking in a large complex. Or you could have purchased a renovated 1100 sq.ft. two-bedroom condominium with one bath in a two-family house with 2 outdoor parking spaces.
Fewer multi-family houses sold in Watertown this year. 60 multi-unit houses sold over the last 12 months vs. 68 in the previous 12 months. That probably is due to fewer multis being listed for sale – just four are on MLS right now. That low inventory meant that multi-families sold much more quickly – average days on market dropped to 45 days from 89 days the year before. The median sale price in the last year was $532,500.
Do you have a property to sell in Watertown? Or are you hoping to move to Watertown? I can help. Give me a call at 617-504-1737 or send me an email via the Contact Me form. Liz Bolton, ReMax Destiny
Now that we’re 3/4 of the way through 2012 (where did those months go?!) let’s pause to see how the Watertown MA real estate market fared.
The figures for the first three quarters of 2011 are in parentheses for comparison.
On September 30, 2012, 81 residential properties were listed for sale in Watertown. That’s significantly fewer than were on the market one year before when 105 properties were available for sale.
For the market as a whole the median price was down by more than 5%. That’s probably due to a change in mix of properties sold rather than a true reflection of real estate values. Quite a few more condos sold this year than in 2011 which brought down the median price overall. The median price for single families was down slightly, the median barely budged for condos, and actually increased by 5% for multi-families. Properties sold for closer to the asking price in 2012.
Demand outpaced supply for multi-family properties which sold on average in just 42 days versus 91 days in 2011.
Residential Real Estate Sold in Watertown – Jan-Sept 2012 (2011)
- 275 properties sold (240)
- Average days on market = 70 (94)
- Properties sold for an average of 98% of asking price (96%)
- Median price of $360,000 ($380,000)
Watertown Single Family Sales – Jan-Sept 2012 (2011)
- Total sold: 66 (65 )
- Sale prices ranged from $203,000 – $1,063,000 ($240,000 – $1,250,000)
- Median price: $420,500 ($430,000)
- Average days on market: 59 (68)
- On average, houses sold for 97% of asking price (97% )
Watertown Condo Sales – Jan-Sept 2012 (2011)
- Total sold: 168 (120)
- Sale prices ranged from $116,000 – $850,000 ($163,100 - $1,435,000)
- Median price: $326,500 ($326,875)
- Average days on market: 81 (110)
- On average, condos sold for 97% of asking price (96%)
Watertown Multi-Family Sales – Jan-Sept 2012 (2011)
- Total sold: 41 (55)
- Sale prices ranged from $245,000 – $710,000 ($296,000 – $667,500)
- Median price: $528,000 ($497,000)
- Average days on market: 42 (91)
- On average, multi-unit houses sold for 99% of asking price (96% )
Info about the Watertown MA real estate market in 2012 (2011) from MLSpin
Here’s a look at how the Watertown MA real estate market is faring in 2011.
The numbers for the same period in 2010 are in parentheses for comparison.
On October 31, 2011, 114 residential properties were listed for sale in Watertown. That’s a large decrease, more than 26%, from the same time last year when 155 properties were on the market.
For the market as a whole the median price was up by 6%. That wasn’t true of single family houses with a median sale price this year through October of $420,375 compared to $482,500 last year. That may in part be due to a different mix in what was offered for sale. In the first 10 months of last year 27 homes sold for more than $500,000 vs. just 20 this year during the same period.
The mix of properties sold this year in Watertown was quite a bit different than last: fewer condos sold this year while single family house sales were up and considerably more multi-unit houses have sold this year.
Residential Real Estate Sold in Watertown – Jan-Oct 2011 (2010)
- 260 properties sold (247)
- Average days on market = 95 (91)
- Properties sold for an average of 96% of asking price (97%)
- Median price of $380,000 ($357,500)
Watertown Single Family Sales – Jan-Oct 2011 (2010)
- Total sold: 70 (57 )
- Sale prices ranged from $240,000 – $1,250,000 ($135,000 – $879,000)
- Median price: $420,375 ($482,500)
- Average days on market: 73 (66)
- On average, houses sold for 97% of asking price (96% )
Watertown Condo Sales – Jan-Oct 2011 (2010)
- Total sold: 129 (155)
- Sale prices ranged from $163,100 – $1,435,000 ($150,000 - $1,105,000)
- Median price: $325,000 ($320,000)
- Average days on market: 108 (112)
- On average, condos sold for 96% of asking price (96%)
Watertown Multi-Family Sales – Jan-Oct 2011 (2010)
- Total sold: 61 (35)
- Sale prices ranged from $296,000 – $667,500 ($155,000 – $665,000)
- Median price: $497,000 ($490,000)
- Average days on market: 91 (37)
- On average, multi-unit houses sold for 96% of asking price (98% )
Info about the Watertown MA real estate market in 2011 (2010) from MLSpin
Is that a dog? No? It could be a coyote that you’ve spotted. The Eastern Coyote can even be found in Cambridge. I haven’t seen one (though I have had some rather odd animal encounters – a deer on Orchard Street, a stuck possum on Somerville Ave) but I know people who have over by Mount Auburn cemetery or Fresh Pond.
I do remember the eerie howls of coyotes you could hear at night from my parents’ porch when they lived in NH. We’re the ones incroaching on their turf.
On Thursday, November 17th, there will be an Eastern Coyote lecture in Watertown.
The Belmont Animal Control Officer, John Maguranis, will present a lecture, Living with the Eastern Coyote, at the Watertown Town Hall.
Where: Watertown Town Hall, 2nd floor, 149 Main Street, Watertown
When: Thursday, Nov. 17, 2011 at 7:00 pm
Free and open to the public
I wrote this post several days ago and scheduled it for today. Coincidentally the Boston Globe published an editorial today calling for education so that people can coexist with the coyotes that have been spotted more frequently in suburban towns like Belmont and Newton. Watertown’s Eastern Coyote lecture is just the ticket.
Watertown has posted the results of the town election of November 8, 2011. 16.65% of the 21,061 registered voters in Watertown cast ballots in yesterday’s municipal election.
Watertown Town Council Election Results
Incumbent councilors from Districts A, B and C ran unopposed and all were reelected. Angeline Kounelis, Cecilia Lenk and V.J. Piccirilli will be returning to the council. They will be joined by Kenneth Woodland who ran, without opposition, to fill the seat representing District D, currently held by John Lawn.
Incumbents also won the four council-at-large seats. However, write-in candidate Michael Mandel, who ran an anti-Walmart campaign (this is the first I’ve heard about the possibility of Walmart coming to Arsenal Street – if I lived in Watertown Mandel would have had my vote), came in just 91 votes behind the next highest vote getter, Stephen Corbett. According to the Watertown Tab, Michael Mandel is considering filing for a recount. You would think his strong showing – given that he entered the race just a couple of weeks before the election – is a reflection of many residents’ sentiment about Walmart. Here’s what the town council members and candidates have to say about Walmart.
Watertown School Committee Election Results
Three seats were up for grabs on the Watertown School Committee. Eileen Hsu-Balzer won reelection. She will be joined by two new school committee members: Michael Shepard and Julie McMahon. Christopher Beach did not win reelection.
I picked up a flyer at the Watertown Mall for a lecture on Emergency Preparedness for Your Pets and Your Family. (Note to self – avoid the Registry of Motor Vehicles anytime around September 1st – the line just to sign in snaked through the mall, filled with students and others who had just moved to town.)
In this season of earthquakes, floods, tropical storms and more this seems like a timely topic.
The lecture will be presented by Watertown Public Health Nurse, Patricia Moran, and Animal Control Officer, Karen O’Reilly.
The lecture, Emergency Preparedness: Your Family and Your Pet, is scheduled for Friday, September 9, 2011 at 10 a.m. at the Old Country Buffet at the Watertown Mall at 550 Arsenal Street, Watertown. It’s an-all ages event – kids are invited to bring their teddy bear for a Teddy Bear Clinic and free blood pressure screenings will be available from 11 to noon.
It’s always interesting at the end of the year to take stock and see how the real estate market did this year compared to previous years. Here’s the Watertown MA real estate review for 2010 followed by the real estate sales numbers in Watertown for December 2010.
Numbers of properties sold in Watertown dipped yet again this year by about 10%. Median prices however did not fall. Condo prices essentially stayed flat while the median price of houses rose by 13.5% and by 10% for multi-families. It was a slower market for condos – on average condos took four months to sell. Multi-unit houses, on the other hand, sold briskly and were on the market just 40 days on average.
Total residential properties sold in Watertown:
Numbers in parentheses show the change from the year before
- In 2010: 290 (-9.6%)
- In 2009: 321 (-12.3%)
- In 2008: 366
Average days on market:
- 2010: 96
- 2009: 82
- 2008: 89
Total value of real estate sales:
- 2010: $113,451,149 (-7.16%)
- 2009: $122,196,592 (-17.34%)
- 2008: $147,822,196
Properties sold for:
- 2010: 96% of asking price on average. The median price was $355,000 (-3.54%)
- 2009: 96% of asking price on average. The median price was $368,000 (-1.61%)
- 2008: 96% of asking price on average. The median price was $374,000
The calendar pages are turning fast so here’s a quick look back at the Watertwon MA real estate market in November 2010.
Watertown MA Real Estate On the Market
161 homes in Watertown were listed for sale in the MLS on November 30, 2010 priced between $149,900 and $1,250,000. Just a couple of days later, as I write, that number is down to 142 as it appears many properties were taken off the market for the holidays.
Watertown MA Real Estate Sold in November 2010
Total value of properties sold in the Watertown MA real estate market in November 2010 was $7,784,795