Arlington Ma Real Estate Market Intelligence brought to you by Mark Lesses from Coldwell Banker
Feb
29
Well despite the national news of gloom & doom our little corner of the universe is doing well! Over the past 14 days we have had 10 single family homes, 14 Condominiums and 3 multi family homes go under agreement. The important part of this is that 50% of the single family homes had multiple offers on them (some with as many as 5!) This says that there is a certain robustness to the market that cannot be denied. Additionally, the condominium sales have been getting stronger too. Anytime the lower end of the market perks up it bodes well for the rest of the market.
We have a new listing at the Cutter School at 1 School St in Arlington, we will be having an open house on Sunday from 12-2pm. Hope to see you there!
Feb
21
Despite this being School Vacation week we’ve seen an increase in the number of properties go under agreement (7) Condos and (3) Single family homes (including a house on 3 Brantwood Rd that was lisited for $1,385,000!) as well as continued strong showings at open houses. Additionally, there were several houses that had multiple offers
All of this activity in the face of suddenly rising interest rates (up to 6 3/8%for a 30 year mortgage) as the bond market has been flucuating up and down for several weeks.
Life moves on… We all have to live somewhere!
Feb
14
Real Estate is like politics… Local. One should have actual local market information based on personal experience of going to open houses when deciding where the market is. Anecdotal evidence is one of the best ways to determine where the market is. Last weekend at many open houses I saw many excited buyers visiting houses. Two houses that came on last week are now under agreement, one house had 7 offers and another had 5 offers on it. This information is invaluable for prospective buyers… People are starting to respond to lower interest rates and a sense that their need to move should be dictated by their own needs and not what others are saying.
Feb
10
This weeks activity has picked up considerably:
Condominums-
New to market 2
Under agreement 5
Single family-
New to market 7
Under agreement 3
Multi-Families-
New to market 2
Under agreement 0
We should see an increase in properties going under agreement this week. I’m basing that on the number of people I have seen at open houses and showings. I was at a showing yesterday and several other folks came through as I was showing the house which hasn’t happened in a while! It never rains on this blog!
Feb
01
Lower rates are the story this week with 30 year fixed at 5.625% and Jumbos at 5.875%. Increased buying power is never a bad thing. MFL
January has been an interesting month in Arlington. There were 28 properties that went under agreement (Singles, condos & multi-families) see the chart below
| |
Went UAG
|
|
Current Status
|
|
Price Range
|
# of
Listings
|
|
# UAG
|
# Sold
|
# Other
|
|
$150,000 – $199,999
|
2
|
|
-
|
2
|
-
|
|
$200,000 – $249,999
|
1
|
|
1
|
-
|
-
|
|
$250,000 – $299,999
|
4
|
|
3
|
1
|
-
|
|
$300,000 – $349,999
|
5
|
|
5
|
-
|
-
|
|
$350,000 – $399,999
|
7
|
|
6
|
1
|
-
|
|
$400,000 – $449,999
|
1
|
|
1
|
-
|
-
|
|
$450,000 – $499,999
|
2
|
|
2
|
-
|
-
|
|
$500,000 – $599,999
|
7
|
|
6
|
1
|
-
|
|
$600,000 – $699,999
|
3
|
|
3
|
-
|
-
|
|
$700,000 – $799,999
|
-
|
|
-
|
-
|
-
|
|
$800,000 – $899,999
|
1
|
|
-
|
1
|
-
|
|
$900,000 – $999,999
|
-
|
|
-
|
-
|
-
|
|
$1,000,000 $1,499,999
|
-
|
|
-
|
-
|
-
|
|
$1,500,000 $1,999,999
|
1
|
|
1
|
-
|
-
|
|
Total Properties
|
34
|
|
28
|
6
|
0
|
Compare this years inventory to last years on 2/1/07 as you can see there is 108 propeties on the market comapred to 139 last year. Quite a difference! This indicates greater buyer activity.. good news!
|
|
2/1/2007
|
|
2/1/2008
|
|
Price Range
|
Number of
Listings
|
Avg. Days
on Market
|
vs. today
|
Number of
Listings
|
Avg. Days
on Market
|
|
$150,000 – $199,999
|
6
|
188
|
|
1
|
204
|
|
$200,000 – $249,999
|
5
|
137
|
|
10
|
68
|
|
$250,000 – $299,999
|
5
|
61
|
|
10
|
150
|
|
$300,000 – $349,999
|
17
|
94
|
|
11
|
160
|
|
$350,000 – $399,999
|
20
|
129
|
|
18
|
81
|
|
$400,000 – $449,999
|
14
|
129
|
|
9
|
116
|
|
$450,000 – $499,999
|
22
|
53
|
|
14
|
229
|
|
$500,000 – $599,999
|
18
|
129
|
|
14
|
166
|
|
$600,000 – $699,999
|
10
|
138
|
|
10
|
168
|
|
$700,000 – $799,999
|
11
|
216
|
|
2
|
155
|
|
$800,000 – $899,999
|
7
|
129
|
|
1
|
2
|
|
$900,000 – $999,999
|
2
|
154
|
|
3
|
276
|
|
$1,000,000$1,499,999
|
2
|
134
|
|
4
|
112
|
|
$1,500,000$1,999,999
|
-
|
-
|
|
1
|
245
|
|
Total Properties
|
139
|
Avg. 121
|
|
108
|
Avg. 145
|
Mark Lesses & Carole Falcone