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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.

Watertown MA Real Estate Market Review

Watertown MA Real Estate Report

Watertown MA Real Estate Review

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.

Watertown Multi-Families

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

Categories: Real Estate Market Info

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