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October Real Estate in Arlington - by the Numbers

Like those pictures you have to stare at and almost go cross-eyed to see the picture within the picture – if you look closely, real estate data reveals the story behind the numbers.

We took a snapshot of October home sales for single-family, 2-family and condo homes in Arlington for both 2018 and 2019, and we have some interesting comparison findings.

Arlington Single Family Homes

 

2018

2019

Single-family Homes Sold

32

26

Average List Price

$867,934

$985,327

Average Days to Offer

16.9

33.9

Average Sale Price

$883,092

$994,631

 

As you can see, while there were fewer homes sold in 2019 than 2018, both the average list price and average sale price were up this year. However, the days to offer (DTO) was also up. For home sellers, this means you are more likely to get a good price for your home as values continue to increase. The good new for home buyers is that there is less of a frenzy, and homes are sitting a little longer to give you some breathing room.

Arlington 2-Family Homes

 

2018

2019

2-family Homes Sold

8

5

Average List Price

$918,250

$934,200

Average Days to Offer

21.5

15.8

Average Sale Price

$890,125

$1,010,200

 

Arlington 2-family home also saw fewer sales in October of 2019 vs. October 2018, and both the average list and sale prices were up. However, properties that are available are selling like hot-cakes. Homeowners should note that the lower inventory and high demand for 2-family homes in Arlington means it could be a great time to sell.

Arlington Condo Homes

 

2018

2019

Condo Homes Sold

25

19

Average List Price

$676,484

$601,605

Average Days to Offer

12.9

12.7

Average Sale Price

$700,016

$611,974

 

Keeping on-trend, there were fewer condo home sales in 2019 than 2018, but that’s where the similarities end. Both the average list price and average sale price were down in 2019 vs. 2018, and DTO was about the same. This is good news for condo homebuyers who are looking to make a move out of the city and own their own property in a vibrant community.

Overall, we are seeing a loosening of inventory but home values continue to rise. This gives homebuyers a little more command over their situation, but home sellers should still feel confident about getting a good value on the sale of their home.

As we get closer to the end of 2019 and set our sights on 2020, we know the market will continue to shift and change. Thinking of buying or selling your home? Contact us and we can break it down for you so you can see, with 2020 clarity, your real estate possibilities in 2020!

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    Arlington Homeowners Workshop

    Steve McKenna & The Home Advantage Team will be hosting a workshop for Arlington residents who are considering the transfer or sale of their current property within the next 6-18 months. The workshop is geared toward owners that have lived in their homes the past 20+ years. We will cover financing, current real estate market trends, preparing you and your home for sale, recent changes in the tax law and how all of these may affect you in the future.

    WHEN: Wednesday, November 13, 2019 from 6:30 -8:00 PM. 

    WHERE: Robbins Public Library, Community Room, 700 Massachusetts Avenue, Arlington, MA

    The workshop is FREE for all Arlington residents. 


     

    Since space is limited, registration in advance is required. These workshops have been extremely helpful to others - so let us help you. We will be hosting other workshops so if you are interested and cannot attend this one please call or email so we can inform you of the next one.

    FOR MORE INFORMATION OR TO REGISTER

    PLEASE EMAIL OR CALL: ArlingtonHomeownersWorkshop@Gmail.com, 781-645-0518

     

    Presenters

    Attorney Carl Toumayan

    Kajko, Weismann & Colasanti, LLP ALL CPA’s

    430 Bedford Street, Suite 390

    Lexington, MA 02420 Chestnut Hill, MA 02467

    781-860-9500 

    Peter Boari, CPA & Principal

    ALL CPA’s

    1330 Boylston Street, 5th Floor

    Chestnut Hill, MA 02467

    617-738-5200

    Thea Simolari, CMHS, Senior Loan Officer NMLS #20194         

    Mortgage Network, Inc.

    78 Blanchard Road, Suite 102

    Burlington, MA 01803

    781-699-7692

    Stephen McKenna, CRS, SRS, RMM

    Bowes Real Estate

    1010 Mass Ave., Arlington, MA 02476

    781-645-0518 

                       
     

     

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      The Great Candy Debate

      This is a little off topic, but very important as it relates to potential homeowners.

      While the independent-aged kids were out trick-or-treating for Halloween last night, the adults had an in-depth conversation about what constitutes the ‘good candy.’ It was a heated debate, but we did discover some basic and fundamental Halloween truths:

      • Tootsie rolls are the ‘raisins’ of today’s youth. If you get one, you have permission to put it back in the bowl and say, ‘no thank you, please do better next time.’
      • Reese’s Peanut Butter Cups are A-1 coveted. But which ones you prefer comes down to the peanut butter-to-chocolate ratio:
        • Some like the smaller individual cups
        • Some like the larger ‘two-pack’
        • Some like the Reese’s Pieces hidden inside the peanut butter cup
      • KitKat’s and Twix are a close second.
      • Candy corn: you love it or you hate it. How you eat it (top down or bottom up) is a topic for another day.
      • Mounds and Almond Joy? Just no.
      • Chips and Pringles are actually a nice option for the non-candy kids (they do exist).
      • The toothbrush as a handout is a little passive-aggressive for Halloween.

      So how does this in any way relate to potential homeowners? If you’re renting in the city and are closer in age to a trick-or-treater than you are to walking the neighborhood with a little batman or unicorn, these are things you will need to know when you have a neighborhood home someday. You don’t need to have ‘the big bars’ to be the cool house on the block, but you do need to know your audience. And just so you know, your kids’ friends will absolutely judge you based on the candy you distribute – so again, choose wisely.

      It all comes back to real estate (even if it is a stretch). Now pass me the Reese’s.

      A Few Home Advantage Team Favorites:

      • Steve: Anything chocolate
      • Erika: Snickers
      • Annie: Twix! But also the old school bars you never see anymore, like Butterfinger
      • Kristen: Butterfinger and Reese's are a close second
      • Carolyn: In the name of research I re-tested them all, but still come back too Reese’s (Pieces, then Cups)

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        Relationships for Life

        As the social media manager for The Home Advantage Team, I tend work behind the scenes. But I’ve been hearing some really interesting stories from the Team that I think are worth sharing.

        So, I was in the office the other day to talk about 2020 business goals and strategies, and Steve told me a story about a conversation on the golf course.

        He was playing with a business-savvy guy who has run a few companies and knows a thing or two about successful organizations. He asked Steve to fill him about on his work and the in-progress business plan.  

        Steve gave him an overview of the market, the team and our clients.

        And the businessman said, “Oh, so you’re not in sales and those people are not your clients.”

        (Eyebrow raise – come again?)

        “The people you are working with are going through major life events that happen to be tied to home buying and selling – marriage, divorce, birth of children, death of parents, relocation, change of jobs. When you help people through these types of experiences, you’ve created relationships for life,” he said.

        Relationships for life.

        It couldn’t be a more accurate description of the connection between Steve McKenna & The Home Advantage Team and the people we serve. We are forever connected to people because of the circumstances that surround the real estate transaction.

        It’s not just about buying or selling of a home, although of course that’s part of it.  It’s the intangibles - how we make people feel during what are stressful and uncertain times that sets us apart. Establishing the price, marketing a property, preparing a home for sale, providing local expertise – those must-do’s are executed with precision by our team of professionals.

        But all the while we ensure that clients are confident, comfortable, and at ease during the entire process which is why people continue to turn to The Home Advantage Team over out of town agents, real estate companies offering discounted commissions, or people who haven’t been in the business long enough to know what they don’t know. Just ask any of our clients.

        When you work with us, you’ll have us by your side for all of your real estate needs - today, tomorrow and in the future.

        Rest easy, and Put Your Home in Our Hands.

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          Statewide Recording Fees Set to Increase

          Homeowners take note! Effective December 31, 2019 the Legislature will increase the statewide recording fees for the Community Preservation Act.

          The Community Preservation Act (CPA) helps communities preserve open space and historic sites, create affordable housing, and develop outdoor recreational facilities. Funds are raised locally for these purposes through a voter-authorized surcharge on local property tax bills of up to 3%.

          It is important to plan for these changes in your own budget as we enter a new year.

          If you have any questions, or if you would like to discuss the impact of these changes on your real estate plans for the future, please don’t hesitate to contact us: info@yourhomeforsale.com, 781-645-0505.

          Click here for more information on the fee increase.

           

           

           Current 2019 fees

           2020 fees

          Deed

           $125

           $155

          Mortgage

           $175

           $205

          Municipal Lien Certificate

           $65

           $80

          Declaration of Homestead

           $35 

           $35 (no change)

          Mortgage Discharge, Release or Partial Release

           $75

           $105

           

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            New Listings This Weekend!

            If you've been on the lookout for new properties coming on to the Greater Boston real estate market we have quite a few options for you to take a look at!

            • If you're a 'city' person looking to keep that urban vibe, or invest in a two-family we have a great opportunity in Somerville.
            • If you are craving more space and land we the the perfect single-family home with lots of space in Winchester
            • If you're someone who likes a little city a little suburban, we have THREE fantastic homes in Arlington - a condo overlooking Spy Pond, and a condo home with 2 levels of living space and walkability, and the perfect single-family home in the Brackett district. 

            Take a look and give us a call today! 781-645-0505, info@yourhomeforsale.com

            New Listings in Greater Boston: S/F, Condo, 2-family homes for sale

             

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              New Listings Coming Soon!

              If you’re in the market for a home in Greater Boston (and you like to stay ahead of the competition) – you’ve come to the right place. As the number one real estate team in Arlington and one of the Top 10 Teams in Greater Boston, we constantly have our finger on the pulse of the real estate market.

              The Home Advantage Team has a number of new listings coming on the market THIS FALL (2019). We would hate for you to miss out on these fantastic real estate opportunities, so be sure to register on our site and you won't miss an update. More info will be available soon!

              New listings coming soon to Arlington

              New Listings Coming Soon to Medford

              New Listings coming soon to Winchester

              New Listings coming soon to Somerville

               

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                Arlington June Home Sales Snapshot

                If June home sales are any indicator, it was a busy spring for Arlington real estate.

                Out of the 29 single-family home sales in Arlington, 16 were over asking price, 10 were under and 3 were at list price. The average list price was $927,710, average sale price was $958,838, and days on market (DOM) was 20.6.

                There were 30 condo homes sold in Arlington in June with 23 over asking price, 2 under, and 5 at list price. The average list price was $645,393, average sale price was $672,494, and days on market (DOM) was at 14.6.

                So what does all of this mean? It means we’ve hit something of a sweet spot.

                Inventory has loosened up for both single-family and condo home homes, which is great news for home buyers who are looking for more options. The average sale price is still trending above asking for both condos and S/F homes, which is great news for sellers who want to get a solid price on the sale of their home.

                Condos in particular seem to be hot right now, with average days on market just under 15, they are moving fast, and over 75% of condos are selling for over asking price which means they are in demand as well.

                While single family homes are also in demand, we seem to be seeing fewer bidding wars, and they’re sticking around a little longer with an average of about 20 days on market. About 55% of homes went over asking.

                Overall the Arlington real estate market remains strong but ever-changing. Be sure to check in with us for updates, or contact us today to get a clear picture about what the current market means for you and your homeownership status.

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                  Change is a Constant in Real Estate

                  As a real estate agent for four decades, I’ve experienced the ups, the downs and all the in-betweens. I’ve seen interest rates as high as 18.5 % and as low as 2.85%. I’ve seen houses sell in both hours and in months.

                  I have learned a lot over the years. Perhaps one of the most important lessons is, the real estate market is always changing.

                  The past five years have been no exception. We’ve seen an unprecedented increase in property values, bidding wars, lack of inventory, a seller’s joy of an amazing sale price and a buyer’s excitement of winning the bidding war. No one has a crystal ball, but I have experience on my side and I see signs that change could be coming.

                  Since mid-May inventory has increased across the board for all styles of housing in the area, days on market are longer and there have been price decreases instead of overbidding. Experience has taught us there are easy things to do to make your home stand out from others which could make your home the exception to the norm. This gives you the opportunity to potentially command a higher price through multiple offers. Our goal is to stay ahead of the changing market by educating you on what works and what doesn’t.

                  As a seller, you want to be sure you have the opportunity to sell your home quickly and for the best price possible. If you’re a buyer you don’t want to sit on the sidelines waiting for the market to change, but you want to buy a home at a price that makes sense for you. Our goal is to set everyone’s expectations correctly for the current market.

                  Fortunately, our changes are not extreme because we are surrounded by the best universities and hospitals in the country. The Greater Boston area is flourishing, with massive growth in Hi-tech and Biotech. Our communities offer easy access to the city via public transportation and bikeways.

                  In a constantly fluctuating real estate market the answer remains the same - the best time to buy or sell a home is when it’s best for you. If you’re thinking about buying or selling in the near future contact us and together we can prepare a plan that works for you.

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                    Arlington's #1 Real Estate Team for 30+ Years Is No Coincidence

                    Steve McKenna & The Home Advantage Team have been Arlington’s #1 agent and real estate team for more than 30 years – and the reign continues.

                    Through booms and busts, bidding wars, low inventory and saturated markets, The Home Advantage Team has seen it all. Kind of like that Farmer’s Insurance commercial (We Know a Thing or Two, Because We’ve Seen a Thing or Two). We’ve been there, sold that. There is rarely a home buying or selling situation that we haven’t experienced many times.

                    With experience comes a deep understanding of the market and a trust that has been built and solidified with clients over time.

                    And the numbers prove it.

                    According to MLS data for Arlington, Jan. 1 – May 31, 2019, The Home Advantage Team closed 27 sales, the highest volume in Arlington and more than the next four agents/teams COMBINED.  

                    It is not luck nor is it coincidence that Steve McKenna & The Home Advantage Team continue to provide solid results and consistent service at the highest level.

                    Thinking of buying or selling? Put Your Home In Our Hands and see what we can do for you.

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