There is just so much happening with Arlington real estate these days it can be hard to boil it down into a) what's most important, b) to me, c) right now.
Arlington real estate is different than the Cambridge market, it's different than the Massachusetts market, and it's different than the U.S. market. While it can be influenced by these factors, it is its own entity with its own trends and statistics.
We get that it can be difficult to pick out what is relevant and what is extraneous for our housing - in Arlington or elsewhere. To break it down, here are my top 10 facts about the Arlington real estate market*.
1. Single family home values have increased 8% compared to the same time last year.
2. The average days on market for single family homes are 35 compared to 49 last year.
3. The average price-per-square foot for condominiums has increased from $287 to $310 since last year.
4. The average days on market for condominiums are 37 compared to 73 last year.
5. There are fewer homes for sale than any other time over the past 20 years.
6. There are more qualified buyers looking to buy in Arlington before interest rates increase.
7. If you're thinking about selling, it's one of the best times in the past 5 years.
8. Arlington is a premier community for first-time home buyers.
9. Arlington offers some of the most distinctive properties in the Greater Boston area.
10. Steve McKenna is the #1 real estate agent in Arlington & The Home Advantage Team is the #1 real estate team in Arlington.
*Arlington Real Estate 2012 vs. 2013 Year-to-date (January 1- June 30)