Medford MA Real Estate Market-2010-Year In Review | Centers And Squares

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As a Cambridge real estate agent, the city squares of Cambridge, Somerville and Medford and the town centers of Arlington, Watertown and Belmont, Massachusetts are my home turf. And as a lifelong New Englander who’s lived within twenty miles of Boston most of my life, I can introduce you to other nearby towns as we search for your new home. If you’re planning to sell your home in Cambridge, MA or nearby you’ll find plenty of info about the home selling process here too. Questions? Send me an email or call me at 617-504-1737.

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

Medford Single Family Sales

  • 2010: 211 (+3.44%)
  • 2009: 204 (-8.93%)
  • 2008: 224

Price range for single family homes:

  • 2010: $132,000 to $765,000
  • 2009: $105,000 to $753,800
  • 2008: $130,000 to $842,275

Median price of single family houses sold:

  • 2010: $350,000 (+2.95%)
  • 2009: $340,000 (-4.63%)
  • 2008: $356,500

On average, single families:

  • In 2010: Sold for 97% of asking price. Average days on market was 80 
  • In 2009: Sold for 98% of asking price.  Average days on market was 71 
  • In 2008: Sold for 96% of asking price. Average days on market was 90

Medford Condo Sales

  • 2010: 152 (-18.72%)
  • 2009: 187 (+25.51%)
  • 2008: 149

Price range for condos:

  • 2010: $157,500 to $525,000
  • 2009: $105,000 to $592,500
  • 2008: $162,000 to $640,000

Median price of condominiums sold:

  • 2010: $291,250 (+5.91%)
  • 2009: $275,000 (-6.78%)
  • 2008: $295,000

On average, Medford condos:

  • In 2010: Sold for 97% of asking price. Average days on market – 75
  • In 2009: Sold for 96% of asking price.  Average days on market – 105
  • In 2008: Sold for 96% of asking price.  Average days on market – 146 

Medford Multi-Family Sales

  • 2010: 97 (+3.20%)
  • 2009: 94 (-8.74%)
  • 2008: 103

Price range for multi-family properties:

  • 2010: $230,000 to $635,000
  • 2009: $245,000 to $632,500
  • 2008: $265,000 to $638,000

Median price of multi-family houses sold:

  • 2010: $425,000 (+11.26%)
  • 2009: $382,000 (-.78%)
  • 2008: $385,000

On average, Medford multi-families:

  • In 2010: were on the market 68 days and sold for 97% of list price
  • In 2009: were on the market 98 days and sold for 98% of list price
  • In 2008: were on the market 108 days and sold for 95% of list price

Here’s the final monthly real estate report for Medford MA with December’s numbers.

Medford MA Real Estate On the Market 

On  the last day of 2010 140 Medford MA properties were on the market, significantly more than were for sale one year before when 103 Medford properties were listed for sale.

Medford MA Real Estate Market – December 2010

37 homes sold in Medford in December 2010.  Properties sold had been on the market 108 days on average and sold for an average of 96% of the list price.  The median sales price in December 2010 was $315,000.

20 single family homes sold in December priced between $185,000 and $765,000. The median sales price for a single family house was $316,294.  The houses that sold were on the market an average of 122 days and sold for an average of 96% of the list price.

8 condos sold in Medford MA in December priced between $200,000 and $369,000.  The median sales price was $250,000.  Condominiums sold for an average of 98% of the list price and average days on market was 99.

9 multi-family properties sold last month for sales prices from $300,000 to $590,000.  The median price paid was $445,000.  Multi-families sold for an average of 95% of the asking price.  Average days on market for these properties was 85.   

Total value of Medford MA real estate market activity in December 2010 was $13,176,688.

Also see: 

Medford MA Real Estate Market November 2010 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about the Medford MA real estate market in 2010 from MLSpin

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