Medford MA Real Estate Sales – January 2010

Welcome to the Medford MA Real Estate Sales Report

Welcome to the Medford MA Real Estate Sales Report

Here’s a look back at Medford MA real estate sales in January 2010. 

Medford Homes On the Market

On January 31, 2010 122 Medford homes were on the market priced between $169,900 to $894,000. Homes had been on the market an average of 122 days.

Medford MA Homes Sold – January 2010

25 properties sold in Medford during January 2010, an increase of more than 30% over January 2009 sales when 19 properties sold in Medford.  The median sales price was $355,000.  Homes had been on the market an average of 115 days and sold for an average of 96% of the asking price.

single family homes sold in January for prices between $300,000 and $440,000. The median sales price for a single family home was $361,827.  Houses were on the market an average of 92 days and sold for an average of 96% of list price.

12 condos sold in Medford in January priced between $184,000 and $525,000.  The median condo sales price was $275,250.  Condominiums sold for an average of 96% of the asking price and were on the market an average of 77 days.

multi-family houses sold during January in Medford MA priced between $230,000 and $476,000.  Multi-families sold for an average of 96% of asking price and on average were on the market for 220 days.  That number is wildly skewed by one property – a short sale that had been on the market for 1,203 days. Other multi-families were sold after 10 to 36 days on the market.

Total value of Medford MA homes sold in January was $8,333,627.

Also see: 

Medford MA Real Estate Sales in 2009 and 2008

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about Medford MA real estate sales in January 2010 from MLSpin

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Medford MA Real Estate Market In 2009 and 2008

Welcome to the Medford MA Real Estate Wrap-up

Welcome to the Medford MA Real Estate Wrap-up

Here’s a look back at Medford home sales in 2009 and 2008 followed by the monthly numbers for December 2009. Information is for sales of properties listed on the MLS, the Multiple Listing System.

There was a slight uptick in total properties sold in Medford in 2009. But there’s more behind those numbers.

During 2009 the number of single family homes sold decreased by 9%.  This was not a matter of poor single family sales – in fact, singles sold for 98% of asking price on average in 2009, versus 96% of list price in 2008.  The reason there were fewer sales (and the reason why sellers were able to get offers closer to their asking price) was that fewer single family houses were put on the market. That is quite evident when the numbers of single families that failed to sell during a listing period are compared – 152 in 2008 and only 83 in 2009.

Medford homeowners thinking of putting their home on the market should consider listing their home soon.   The spring market promises to be early this yearbecause the homebuyer credit requires that the buyer have a property under agreement by April 30, 2010.  Inventory going into the new year is waaay down from the year before – 38% fewer properties were on the market on Dec. 31st, 2009 than one year before.  Less competition means it will be easier to sell your home.

The increase  in the number of Medford properties sold this year was largely a result of a sizable increase in numbers of condos sold – condos sales increased by 25% over 2008 sales.  When I saw that large an increase I took a closer look, wondering if it was a matter of new condo projects selling. That doesn’t seem to be the case – there were condos in new projects selling in 2008 and in 2009 and the numbers sold are fairly close.  It seems that resale condos made up the increase instead.

At the same time, the median price of condos sold in 2009 fell by $20,000 or close to 7%.  That may be in part a function of the mix of condos on the market since resale units usually sell for lower prices than the newly built condos.

In fact, the median price fell in all categories – single family houses, condos and multi-family houses.  But at the same time, average days on market fell in all categories.  It’s seemed for a while now that sellers have adjusted their expectations to current market conditions – pricing for today’s market and as a result, more sales are coming together.  Thinking this will be the year you’ll become a homeowner? – it’s a great time to buy – realistic asking prices, low interest rates, and a homebuyer credit that puts cash in your pocket!

Medford Real Estate Year In Review

Total properties sold in Medford:

  • In 2009: 485 (+1.9%)
  • In 2008: 476

Average days on market:

  • 2009: 90 (-19.65%)
  • 2008: 112

Total value of real estate sales:

  • 2009: $162,742,034 (-4.9%)
  • 2008: $171,111,513

Properties sold for:

  • 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

  • 2009: 204 (-8.93%)
  • 2008: 224

Price range for single family homes:

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

Median price of single family houses sold:

  • 2009: $340,000 (-4.63%)
  • 2008: $356,500

On average, single families:

  • In 2009: were on the market 71 days & sold for 98% of asking price
  • In 2008: were on the market 90 days & sold for 96% of asking price

Medford Condo Sales

  • 2009: 187 (+25.51%)
  • 2008: 149

Price range for condos:

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

Median price of condominiums sold:

  • 2009: $275,000 (-6.78%)
  • 2008: $295,000

On average, Medford condos:

  • In 2009: were on the market 105 days and sold for 96% of list price
  • In 2008: were on the market 146 days and sold for 96% of list price

Medford Multi-Family Sales

  • 2009: 94 (-8.74%)
  • 2008: 103

Price range for multi-family properties:

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

Median price of multi-family houses sold:

  • 2009: $382,000 (-.78%)
  • 2008: $385,000

On average, Medford multi-families:

  • 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 are the last monthly real estate report for 2009 – Medford Mass real estate sales in December 2009:

Homes On the Market in Medford MA

On December 31, 2009:

  • 103 Medford homes were on the market
  • Priced between $169,900 to $894,000.
  • Average days on market – 141

Medford Mass Homes Sold – December 2009

  • 35 properties sold in Medford in December
  • Median sales price – $340,000
  • Average days on market – 88 
  • Homes sold for an average of 98% of the list price

17 single family homes sold in December

  • Sale prices: $217,000 to $601,600
  • Median sales price for a single family home was $369,900
  • Houses were on the market an average of 60 days 
  • Singles sold for an average of 98% of asking price

condos sold in Medford in December

  • Sales prices:  $177,400 – $370,000
  • Median condo sales price:  $255,000 
  • Condominiums sold for an average of 97% of the asking price
  • Average days on market:  130

multi-family house sold in December in Medford MA

  • Priced between $245,000 and $600,000
  • Median sales price – $365,000
  • Multi-families sold for an average of 98% of asking price 
  • Average days on market was 98

Total value of Medford MA homes sold in November was $12,287,270.

Also see: 

Medford MA Real Estate Sales in November 2009

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about homes sold in Medford MA in December 2009 was based on data from MLSpin

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Medford MA Homes Sold – November 2009

Welcome to the Medford MA Real Estate Report

Welcome to the Medford Real Estate Report

Medford MA homes sold in November 2009 benefited from the boost created by buyers timing their real estate purchases to qualify for the first time homebuyers credit. 

Medford Homes On the Market

On November 30, 2009 120 Medford homes were on the market priced between $179,000 to $894,000. Homes had been on the market an average of 121 days.

Medford MA Homes Sold – November 2009

52 properties sold in Medford in November, an increase of more than 25% over October’s closings.  The median sales price was $318,250.  Average days on market was 64 and homes sold for an average of 97% of the list price.

23 single family homes sold in November for sale prices from $188,000 to $547,000. The median sales price for a single family home was $340,000.  Houses were on the market an average of 51 days and sold for an average of 97% of asking price.

23 condos sold in Medford in November priced between $170,000 and $450,000.  The median condo sales price was $275,000.  Condominiums sold for an average of 97% of the asking price and were on the market an average of 73 days.

multi-family house sold during November in Medford MA priced between $315,000 and $510,000.  Multi-families sold for an average of 97% of asking price and on average were on the market for 83 days.

Total value of Medford MA homes sold in November was $17,412,950.

Also see: 

Medford MA Real Estate Sales in October 2009

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about homes sold in Medford MA in October 2009 was based on data from MLSpin

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Medford Homes Sold In October 2009

Welcome to the Medford Homes Sales Report

Welcome to the Medford Homes Sales Report

Now that the month is at a close let’s take a look at Medford homes sold in October 2009

Medford Homes On the Market

On October 31, 2009 131 homes were on the market in Medford Massachusetts priced between $174,900 to $929,000. Average days on market was 131.

Medford Mass Homes Sold in October 2009

41 properties sold in Medford in October with an average sales price of $342,921.  The median sales price was $340,000.  Houses were on the market an average of 85 days and sold for an average of 98% of the list price.

12 single family homes sold in October for sale prices from $250,000 to $537,500. The median sales price for a single family home was $368,050.  Houses were on the market an average of 53 days and sold for an average of 99% of asking price.

20 condos sold in Medford in October priced between $173,775 and $388,000.  The median condo price was $277,500.  Condominiums sold for an average of 97% of the asking price.  Average days on market was 88.

rental properties sold during October in Medford MA priced between $322,000 and $550,000.  Multi-families sold for an average of 99% of list price and on average were on the market for 123 days.

Total value of Medford homes sold in October was $14,059,774.

Also see: 

Medford MA Real Estate Sales in September 2009

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

 

Information about homes sold in Medford MA in October 2009 was based on data from MLSpin

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Medford MA Home Sales in September 2009

Welcome to the Medford Home Sales Report

Welcome to the Medford Home Sales Report

Another page ripped from the calendar…  here’s a look back at Medford MA home sales in September 2009. 

Medford MA Homes On the Market

On September 30, 2009 139 residential properties were on the market in Medford Massachusetts priced between $174,900 to $929,000. Properties had been on the market an average of 109 days. The median price of homes for sale in Medford was $369,900.

Medford Mass Home Sales in September 2009

38 properties sold in Medford in September with an average sales price of $341,781.  The median sales price was $330,000.  Average days on market was 80 days.   Homes sold for an average of 98% of the list price.

16 single family homes sold in September for sale prices from $200,000 to $532,500. The median sales price for a single family home was $322,944.  Homes were on the market an average of 72 days and sold for an average of 97% of asking price.

14 condos sold in Medford in September priced between $140,000 and $463,250.  The median condo price was $296,250.  Condominiums sold for an average of 97% of the asking price and had been on the market an average of 109 days.

multi-family properties sold during September in Medford MA priced between $300,000 and $632,500.  The multi-family market was brisk – multi-families sold for an average of 102% of list price and on average were on the market just 47 days.

Total Medford residential real estate sales volume closed in September was $12,987,688.

Also see: 

Medford MA Real Estate Sales in August 2009

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

Information about homes sold in Medford MA in September 2009 was based on data from MLSpin

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Homes Sold in Medford In August 2009

Welcome to the Medford MA Real Estate Review

Welcome to the Medford MA Real Estate Review

Who knew a month could fly by so fast – here’s a look back at homes sold in Medford  in August 2009.

On Market Snapshot

On August 31, 2009 136 residential properties were on the market in Medford Massachusetts, down from 147 one month ago.   Asking prices ranged from $174,900 to $929,000. Average days on market was 129.  The median price of homes for sale in Medford was $358,938.

Homes Sold in Medford in August 2009

51 properties sold in Medford in August with an average sales price of $352,838.  The median sales price was $340,000.  Homes that sold in August were on the market an average of 69 days.   Homes sold for an average of 97% of asking price.

23 Medford single family homes sold in August for sale prices from $252,000 to $753,800. The median sales price for a single family home was $332,500.  The Medford single family market remains very strong – average days on market was just 36 and single family houses sold for an average of 99% of asking price.

23 condos sold in Medford in August for sales prices between $172,000 and $592,500.  The median condo sales price was $319,500.  Condominiums sold for an average of 96% of the asking price and were on the market an average of 95 days.

multi-family properties sold in August in Medford MA priced between $340,000 and $470,000.  Multi-families sold for an average of 98% of list price.  Average days on market was 101.  The median sales price was $418,000.

Total Medford residential real estate sales volume closed in August was $17,994,752.

Also see: 
Medford MA Real Estate Sales in July 2009

 

SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS

Information about homes sold in Medford MA in August 2009 was based on data from MLSpin

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Live In a Renovated School – Medford Schoolhouse Condos

Live In a Renovated School – Medford Schoolhouse Condos  Old brick school buildings make beautiful condos. Large windows, high ceilings, wide hallways, and wonderful original detail make for dramatic spaces.  Medford Massachusetts has a great selection of converted schoolhouse condominiums.  The old High School was converted to condos in the 1980s and several years ago the City of Medford retired several elementary schools that are now condo buildings.  Here’s the scoop on condos in schools in Medford and links to search the MLS for currently available units.

Gleason School

Gleason School

The Gleason School – 160 Playstead Road

This school was converted in 2006 to just eight large units ranging in size from approx. 1200 to 2800 sq.ft.  There are flats and multi-level units with two to four bedrooms.  The building has an expansive, park-like yard with a common patio.  Located in West Medford with the commuter rail station – just one stop to Boston! – right down the street.  Market rate units sold for $439,000 to $599,000.

gleason school

Swan School Condos

Swan School Condos

The Swan School – 75 Park Street

The Swan School, at the corner of Park and Washington Street, was converted to 15 renovated schoolhouse condominiums in 2006.  There are flats and multi-level units all with beautiful finishes.  Features include oak floors, central air conditioning, gas fireplaces, two parking spaces, an elevator, and basement storage.  Units range from 1000+ to over 3700 sq.ft. with two to four bedrooms.  Sales prices ranged from $450,000 to $585,000.

swan school

Franklin School

Franklin School

The Franklin School – 68 Central Avenue

The Franklin School, at the corner of Farragut Avenue, was converted to twenty condos in 2006 ranging in size from about 900 to 2000 sq.ft.  Most condos have two bedrooms and two baths.  Amenities include private storage room, an elevator, two parking spaces, central A/C, and maple cabinets, granite counters, and stainless steel appliances in the kitchens.  Units on the first floor have private patios.

Franklin School

Condos on Sharon & Holton

Condos on Sharon & Holton

The Hervey School – 122 Sharon Street – 51 Holton Street

Yet another one of the recent schoolhouse conversions, the Hervey School is in West Medford near the Mystic River.  The eight units range in size from approx. 1000 to 2600 sq.ft.  Each unit has two parking spaces, there’s storage outside the unit and an exercise room.  Condos in the Hervey School have sold between $369,000 and $476,000 for market rate units.

hervey school

The Medford High School Condos – 48 – 64 Forest Street

The original Medford schoolhouse conversion, the old Medford High School in Medford Square has over 100 condos. Condos range from two-room units to large, loft-like 2000 sq.ft. units. There’s garage or outdoor parking, central air conditioning, elevators, tennis courts, sauna, and best of all – a beautiful indoor pool. In the last two years homes here have sold for prices between $162,000 to $256,150.

Forest Street

More Schoolhouse Conversions on the Way

The Kennedy-Lincoln School at 215 Harvard Street is under renovation as I write.  New townhouses have been constructed and the second phase will include condos in the renovated school building.  The project is being marketed by Doug Rae of Hammond Residential.  There is also talk of converting the Fulton School in Fulton Heights to condominiums.

215 Harvard Street

********

If you’d like to live in a renovated school – call Liz Bolton for more information about Medford schoolhouse condos. Liz is a real estate agent at Coldwell Banker and can be reached at 617-504-1737.

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Medford Real Estate Market – July 2009

Welcome to the Medford MA Home Sales Report for July 2009

Welcome to the Medford MA Home Sales Report for July 2009

Another page pulled from the calendar – time to look back at the Medford real estate market in July 2009.

On Market Snapshot

On July 31, 2009 147 residential properties were on the market in Medford Massachusetts, down from 160 a month ago.   Asking prices ranged from $139,900 to $1,200,000. Average days on market was 129.  The median price of homes for sale in Medford was $369,000.

Real Estate Sales in Medford MA in July 2009

42 properties sold in Medford in July with an average sales price of $333,359.  The median sales price was $337,500.  The average days on market was 96.  In July homes sold for an average of 96% of asking price.

23 Medford single family homes sold in July for sale prices from $173,000 to $501,000. The median sales price for a single family home was $344,444.  Average days on market was 90.  Single family houses sold for an average of 100% of asking price.

12 condos sold in Medford in July for sales prices from $195,000 to $390,000.  The median condo sales price was $286,250.  Condominiums sold for an average of 98% of the asking price.  The average days on market was 100.

multi-families sold in July in Medford MA for sales prices between $285,000 and $450,000.  Multi-family homes sold for an average of 94% of list price.  Average days on market was 110.  The median sales price was $365,000.

Total Medford residential real estate sales volume closed in July was $14,001,077.
Also see: 
Medford MA Real Estate Sales in June 2009


SEARCH FOR PROPERTIES FOR SALE IN MEDFORD MASS
Information about the Medford real estate market in July 2009 was based on data from MLSpin

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Tags:
Comments: Please leave a comment. Your opinions welcomed.

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