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REAL-ity Check

Real Estate - Real Report. This year we've seen it all - low inventory, increase in sale prices, and an extremely competitive market for buyers. Arlington is one of the hottest communities and Greater Boston real estate just got real.

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But are things changing? We're out there every day in the real estate trenches, and we're sensing a shift. Inventory is starting to creep up, the overbidding is starting to slow down and homes for sale are starting to sit just a little...bit...longer.

Yes, prices have been on the uptick and Arlington has been one of the top markets for sellers in Greater Boston.* According to our most recent report, the average sales price for single family homes in Arlington is up 13.7%, the average sales price for condominiums in Arlington is up 18% and the average sales price for multi-family homes in Arlington is up 9.5% as compared to the same time frame last year.** We, along with analysts, are predicting that prices are set to stabilize, inventory to increase and the pendulum to swing back to a more traditional market. We anticipate more listings coming on the market in the spring. The sale prices that your neighbors received may not be achievable in 2015 with the influx of inventory.

As a home seller, you want the least amount of competition when selling your home. This means it is time to start planning. We have the team in place to help you prepare! If selling your home has been on your mind, it's time to take action and call Steve McKenna & The Home Advantage Team (Arlington's #1 Real Estate Team) at 781-645-0505 to discuss a plan and strategy that works for you.

(January 1- September 30, 2013 vs 2104 Year to Date Comparison )

Single Family Homes

2013 Total Sales YTD: 196   Avg. List$: $577,503   Avg. DOM: 27.55   Avg. Sale$: $595,320  

2014 Total Sales YTD: 209   Avg. List$: $653,500   Avg. DOM: 22.31   Avg. Sale$: $677,044  

Average Sale Price Increased 13.7% from 2013 - 2014 YTD

Condominiums

2013 Total Sales YTD: 209   Avg. List$: $376,592  Avg. DOM: 31.36   Avg. Sale$: $383,210  

2014 Total Sales YTD: 186   Avg. List$: $440,768   Avg. DOM: 46.74   Avg. Sale$: $452,366  

Average Sale Price Increased 18% from 2013-2014 YTD

Multi Family Style Homes

2013 Total Sales YTD: 36   Avg. List$: $593,911   Avg. DOM: 22.86   Avg. Sale$: $606,664  

2014 Total Sales YTD: 26   Avg. List$: $647,719   Avg. DOM: 38.35   Avg. Sale$: $664,750  

Average Sale Price Increased 9.5% from 2013-2014 YTD

 

*Boston.com  

**Data Source: MLS, January--September 2013 vs. 2014    

***Comparison is based upon sales recorded in MLS and does not take into considerations size, location, style or condition of each property.

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