Watertown MA 2009 Real Estate Market Review

Welcome to the Watertown Real Estate Wrap-up

Watertown MA 2009 Real Estate Market   Finally – the year has come to a close and it’s possible to do a year end wrap-up of the real estate market in Watertown.  2008 figures are included for comparison.  The report includes sales that were listed in the MLS, the Multiple Listing System.

The percentage of year-to-year change is included in parentheses. 

As you’ll see, fewer properties sold in Watertown in 2009 than in 2008 – more than 10% fewer.  Was that because properties were harder to sell in 2009?  The numbers seemed to suggest that wasn’t the case – on average properties sold a bit more quickly in 2009 and the spread between asking price and sale price didn’t change.  The median sales price for Watertown properties barely budged..

Looking at the numbers of properties that failed to sell – that “expired” as we say, shows that more properties failed to sell in 2008 (120) than in 2009 (109).

It seems that the decline in numbers of properties sold occurred because fewer properties were listed for sale in 2009.  Reasons why fewer properties were put on the market include sellers who are able to wait and think they’ll get more money for their home some time in the future and homeowners who are unable to sell at a price that works for them and choose to stay put or rent their home.

After the annual sales info you’ll find the stats for December 2009.

Total properties sold in Watertown:

• In 2009: 321 (-12.3%)
• In 2008: 366

Average days on market:

• 2009: 82
• 2008: 89

Total value of real estate sales:

• 2009: $122,196,592 (-17.34%)
• 2008: $147,822,196

Properties sold for:

• 2009: An average of 96% of asking price and a median price of $368,000 (-1.61%)
• 2008: An average of 96% of asking price and a median price of $374,000

Watertown Single Family Sales

• 2009: 79 (+5.34%)
• 2008: 75

Price range for single family homes:

• 2009: $260,000 to $967,500
• 2008: $280,000 to $1,577,000

Median price of single family houses sold:

• 2009: $415,000 (-.01%)
• 2008: $419,000

On average, single families:

• In 2009: were on the market 61 days and sold for 95% of list price
• In 2008: were on the market 82 days and sold for 96% of list price

Watertown Condo Sales

• 2009: 199 (-13.86%)
• 2008: 231

Price range for condos:

• 2009: $150,000 to $781,000
• 2008: $182,000 to $1,060,600

Median price of condominiums sold:

• 2009: $322,000 (-6.67%)
• 2008: $345,000

On average, Watertown condos:

• In 2009: were on the market 91 days and sold for 97% of list price
• In 2008: were on the market 84 days and sold for 97% of list price

 Watertown Multi-Family Sales

• 2009: 43 (-28%)
• 2008: 60

Price range for multi-family properties:

• 2009: $310,000 to $723,000
• 2008: $335,000 to $2,400,000

Median price of multi-family houses sold:

• 2009: $445,000 (-6.8%)
• 2008: $477,500

On average, Watertown multi-families:

• In 2009: were on the market 75 days and sold for 96% of list price
• In 2008: were on the market 120 days and sold for 93% of list price

The December 2009 Stats

Watertown Homes on the Market

74 Watertown homes were listed for sale in the MLS  on December 31, 2009 priced between $182,000 and $1,395,000.  Average days on market was 172. 

Watertown Home Sales – Dec. 2009

Total value of Watertown home sales closed in December was $8,702,400

See Also:

WATERTOWN REAL ESTATE SALES Nov. 2009

Info about Watertown real estate sales from MLSpin

Categories: Real Estate Market Info
Tags: Watertown

This entry was posted on Friday, January 8th, 2010 at 11:42 pm and is filed under Real Estate Market Info. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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