Green Line Extension to Route 16

It's not the Green Line - but you get the idea - and it's such a beautiful shot

It's the Red not the Green Line - but too beautiful a photo to resist

There’s a meeting this Wednesday to talk about the possibility of extending the Green Line to Route 16 / Mystic Valley Parkway.

This is the kickoff of a “community visioning process” to discuss the benefits and impacts of the potential Green Line extension to Route 16.

I’m a big proponent of bringing the Green Line to 16 – there’s a dense neighborhood that will be served by a station at Route 16 and it would be a huge loss to only bring the Green Line to Tufts. My fear from early on is that we’d end up with another T line built to serve a college, rather than a neighborhood, a la the Boston College line.

The Green Line extension will improve property values, make transportation so much easier for Hillside, East Arlington, Somerville and West Medford residents, and allow locals to consider going car free. It will improve quality of life for decades to come.

Just think… you’ll be able to hop on the T and head into Boston, take the T to the airport rather than a cab, invite friends and family over to visit even if they don’t drive, tell prospective tenants that “the house is two blocks from the T Station”, etc. $4 a gallon gas – heck, $6 or $8 a gallon for gas – no problem – commute on the T and rent a Zip Car when you want to drive.

The Community Visioning Kick-Off meeting is scheduled for Wednesday, Feb. 16, 2011 from 6 to 8 pm at the Brooks Elementary School, 388 High Street, Medford MA.

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Jumbo Cash

Jumbo Cash In Medford

Jumbo Cash In Medford

I was surprised to see this Jumbo Cash Accepted banner on the Tasty Gourmet on Boston Ave.  I was psyched – I thought Medford had gotten its own alternative currency.

The alternative currency I had heard a lot about was Berkshares. Berkshares is a local currency for the Berkshire region in Western Massachusetts.  It’s intended to encourage people to shop locally and works just like cash in over 400 establishments in the Berkshires.  It’s a very interesting way to actually see how shopping locally keeps money in the community.

Turns out, however, that Jumbo Cash is simply the Tufts debit card. It’s sort of an expanded meal card. The Jumbo Cash card is now accepted at more than 20 local off-campus stores and restaurants.

Jumbo Cash – convenient but not world changing.

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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

Click here to continue reading about the Medford MA real estate market

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How Do You Like the View?

View of the Mystic River and Boston Skyline

View of the Mystic River and Boston Skyline

I swear that a beautiful view has a physical impact on our bodies – you can feel your body relax when you come across a beautiful vista.

Whenever we tour a condo or house with a wonderful view I snap photos.  This one is from my new listing at Mystic River Park Condos in Medford.  It’s one of my favorite buildings – very well run, with a glorious pool, 24 hour front desk coverage, and lots more.

This condo faces the Mystic River across the street with the Boston skyline visible beyond. At night the view in every direction is mesmerizing.  In my mind I start thinking about where I would put my desk in the second bedroom to look at this view every day – but would I ever get any work done? Probably not!

Here’s more info about 3920 Mystic Valley Parkway Unit 701.

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Medford MA Real Estate Market – Nov 2010

Welcome to the Medford Real Estate Report

Welcome to the Medford Real Estate Report

Here’s how the Medford MA real estate market  fared in November 2010. 

Medford MA Real Estate On the Market 

On November 30, 2010 171 Medford MA properties were on the market  for asking prices from $134,995 to $1,300,000.  That’s a significant increase – just over 40% – from last year at this time when 121 homes were listed for sale.

Medford MA Real Estate Market – November 2010

47 homes sold in Medford in November 2010.  Properties sold had been on the market 80 days on average and sold for an average of 97% of the list price.  The median sales price in November 2010 was $345,000.

21 single family houses sold in November for sales prices between $210,000 and $615,000. The median sales price for a single family house was $340,000.  The houses that sold were on the market an average of 97 days and sold for an average of 98% of the seller’s asking price.

14 condos sold in Medford MA in November priced between $180,000 and $454,500.  The median sales price was $286,000.  Condominiums sold for an average of 96% of the list price and average days on market was 45.

12 multi-family properties sold last month for sales prices from $302,000 to $525,000.  The median price paid was $416,000.  Multi-families sold for an average of 97% of the asking price.  Average days on market for these properties was 88.   

Total value of Medford MA real estate market activity in November 2010 was $17,105,550.

Also see: 

Medford MA Home Sales October 2010 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

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

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Medford MA Home Sales – October 2010

Welcome to the Medford Real Estate Report

Welcome to the Medford Real Estate Report

Here are the monthly numbers with a quick look back at Medford MA home sales in October 2010

Medford MA Real Estate On the Market 

On October 31, 2010 199 Medford MA homes were on the market  for asking prices from $134,995 to $1,300,000.  

Medford MA Home Sales During October 2010

38 homes sold in Medford in October 2010.  Homes sold had been on the market an average of 76 days and sold for an average of 95% of the asking price.  The median sales price in October was $321,500.

16 single family homes sold in October 2010 for prices between $190,000 and $744,000. The median sales price for a single family home was $333,500.  Average days on market was 78 and houses sold for an average of 94% of the asking price.

12 condos sold in Medford MA in October priced between $208,900 and $355,000.  The median price paid was $292,500.  Condominiums sold for an average of 96% of the asking price and average days on market for Medford condos that sold last month was 95.

10 multi-family houses sold last month for sales prices from $254,000 to $526,100.  The median price paid was $401,500.  Multi-families sold for an average of 96% of the asking price and were on the market an average of 49 days.   

Total value of Medford home sales in October 2010 was $13,467,350.

Also see: 

Medford Properties Sold In September 2010 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about Medford MA home sales in October 2010 from MLSpin

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Medford Properties Sold in September 2010

Welcome to the Medford Real Estate Recap

Welcome to the Medford Real Estate Recap

Here’s a quick look back at Medford properties sold in September 2010

Medford Real Estate On the Market 

On September 30, 2010 223 residential properties were on the market in Medford priced between $159,900 and $1,300,000.  That’s a 38% increase in properties for sale from this time last year at this time when just 138 homes were listed for sale.

Medford Properties Sold In September 2010

43 properties sold in Medford during September 2010 – that’s the second month to month increase in sales with an  increase of more than 25% compared to August’s sales.  The median sales price in September was $340,000.  Properties that sold had been on the market an average of 77 days and sold for an average of 97% of the list price. 

27 single family houses sold in September  for sales prices between $132,000 and $555,000. The median sales price for a single family home was $340,000.  Houses were on the market 77 days on average and sold for an average of 96% of the list price.

condos sold in Medford last month priced between $199,900 and $433,000.  The median price was $255,000.  Condominiums sold for an average of 98% of the list price and were on the market an average of 102 days.

multi-family houses sold during September for prices from $325,000 to $512,500.  The median price paid was $460,000.  Multi-families sold for an average of 97% of the asking price and were on the market an average of 48 days.   

Total value of Medford properties sold in September 2010 was $14,732,097.

Also see: 

Medford Home Sale Report August 2010 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about Medford properties sold in September 2010 from MLSpin

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Medford Home Sale Report – August 2010

Welcome to the Medford Real Estate Review

Welcome to the Medford Real Estate Review

Here’s a quick look back at Medford home sale activity in August 2010

Medford Real Estate On the Market 

On August 31, 2010 196 residential properties were on the market in Medford priced between $159,900 and $1,300,000.  That’s a large increase in inventory over last year at this time when just 132 homes were listed for sale.

Medford Home Sale Activity – August 2010

34 properties sold in Medford during August 2010 – that’s an increase of more than 20% compared to July’s sales.  The median sales price in August was $330,500.  Properties that sold had been on the market an average of 72 days and sold for an average of 96% of the list price. 

17 single family houses sold in August  for sales prices between $209,000 and $529,900. The median sales price for a single family home was $375,000.  Houses were on the market 42 days on average and sold for an average of 96% of the list price.

15 condos sold in Medford last month priced between $180,000 and $482,000.  The median price was $283,000.  Condominiums sold for an average of 96% of the list price and were on the market an average of 95 days.

Two multi-family houses sold during August for $450,000 to $600,000.   

Total value of Medford home sales in August 2010 was $11,485,913.

Also see: 

Medford Real Estate Sales In July 2010 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about Medford home sale activity in August 2010 from MLSpin

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