home sales

Arlington Home Sales, a 2017-2018 Comparison

*excerpts from Steve’s video assessment given on 1/3. Click to view his full overview.

This side-by-side comparison of Arlington home sales from 2017 to 2018 sheds light on some expected (and not-so-expected) information.

While we are still experiencing a lack of inventory in the area, the market does seem to be stabilizing. It appears that home values have reached their ceiling and buyers are gaining some leverage – they are willing to wait a little longer and are more reluctant to engage in bidding wars.

The number of single-family home sales from 2017 to 2018 stayed consistent while the average single-family home price rose significantly by 12%.

The number of condo homes sold was also fairly steady rising from 234 sales to 245, with prices rising about 7%.

Multi-family home sales proved interesting – there are fewer available multi-family homes on the market because so many have been converted into condos. The number of multi-family homes went from 37 to 53 with the sale price rising from $902,000 to $1,004,000 - a noteworthy jump.

If you are thinking of selling in today’s market, it is important to be informed and plan ahead. We would be happy to provide additional information and insights into these market trends for you. Please do not hesitate to contact us.

info@yourhomeforsale.com

781-645-0505

Arlington MA home sales, 2017-2018

Arlington MA Home sales, single family, condo, multifamily, 2017-2018


 

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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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      November Real Estate in Arlington - by the Numbers

      The holiday season most certainly has an impact on the real estate market. This isn’t new, but how does the start of one holiday season compare to another?

      We took a snapshot of November home sales for single-family, condo, and multi-families in Arlington for both 2018 and 2019, and here’s what the data reveals:

      Arlington Home Sales: November

      You’ll notice that the number of single-families and condos sold for 2018 and 2019 stayed fairly steady without much variation. The number of multi-families sold dipped from 7 in 2018 to just 2 in 2019 (note the number of multi-family sales declined in October 2019 vs. October 2018 as well).  It will be interesting to see where this trend goes over the next few months.

      Arlington Average Days on Market: November

      Single-families are selling a bit quicker in November 2019 vs. November 2018, and condos are relatively steady comparatively. Multi-families have seen a somewhat significant drop in days on market. This is consistent with our October comparison as multi-families continue to be scarce and sell quickly.

      Arlington Average Sale Price: November

      Average sale price of single-families was slightly down, and condos slightly up. Coming in just a bit higher in 2019 than 2018 ($3,286 to be exact), the multi-family average sale price is up as well.

      Overall, not a ton of fluctuation in November 2019 vs. November 2018, but the star of the market right now seems to be the multi-family which is in demand, selling quickly and at a higher price in November 2019 than November 2018.

      *Here is the above data in a snapshot view:

      2019 ARLINGTON

      Single Family Sold Listings: 26 Avg. DOM: 27.23 Avg. Sale $: $894,346

      Condominium Sold Listings: 24 Avg. DOM: 16.96 Avg. Sale $: $537,204

      Multi Family Sold Listings: 7 Avg. DOM: 50 Avg. Sale $: $889,214

      2019 ARLINGTON

      Single Family Sold Listings: 24 Avg. DOM: 20.63 Avg. Sale $: $798,562

      Condominium Sold Listings: 24 Avg. DOM: 18.08 13 Avg. Sale $: $607,734

      Multi Family Sold Listings: 2 Avg. DOM: 29.5 Avg. Avg. Sale $: $892,500

       

       

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        November Real Estate in Medford - by the Numbers

        We took a snapshot of November home sales for single-family, condo, and multi-family properties in Medford for both 2018 and 2019, and here’s what the data reveals:

        Home sales for single-families and condos dipped slightly in 2019 as compared to 2018 but multi-families saw a slight increase.

        Across the board, single-families, condos and multi-families stayed on the market a bit longer, giving home buyers a little more breathing room. Condos saw the biggest jump in days on market from 2018 to 2019. It’s interesting that multi-families stayed on the market longer, whereas in Arlington the supply of multi-families was lower and they sold quicker.

        Even though the number of listings was generally down and properties sat longer, average sale prices went up in 2019 vs. 2018.

        Demand for properties in Medford remains strong and value continue to rise which is great news for home sellers. If you’re looking to buy in Medford, you’ll be pleased to know that inventory is slightly up and properties are staying on the market a little longer.

        If you would like additional information, or if you would like to know more about buying or selling a home in Medford, contact us today.

         

        Here is a snapshot view of the data above:

        2018 MEDFORD

        Single Family Sold Listings: 26 Avg. DOM: 29.96 Avg. Sale $: $641,715

        Condominium Sold Listings: 20 Avg. DOM: 39.1 Avg. Sale $: $548,970

        Multi Family Sold Listings: 7 Avg. DOM: 20.14 Avg. Sale $: $845,500

         

        2019 MEDFORD

        Single Family Sold Listings:  23 Avg. DOM: 35.17 Avg. Avg. Sale $: $679,087

        Condominium Sold Listings: 16 Avg. DOM: 53.75 Avg. Sale $: $603,806

        Multi Family Sold Listings: 9 Avg. DOM: 28.78 Avg. Sale $: $875,333

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          A Look at Arlington Real Estate & Arlington's #1 Real Estate Team in 2019

          If we take a look back at 2019 real estate in the Arlington area, you could say the unprecedented property values, bidding wars and lack of inventory of previous year has eased up. But in no way has the real estate market eased off in terms of strength and competitiveness.

          A loosening of inventory has given buyers a little more breathing room and perhaps fewer bidding wars. But with average sales prices still above asking and demand still strong, sellers are still experiencing the benefit of high home values. 

          As always, our proximity to some of the best universities and hospitals in the country, strong employment in high-tech and biotech, and access to the city via public transportation and bikeways makes Arlington and many of the surrounding towns an ever-popular choice for homebuyers.

          We are entering the year 2020 with many changes upon us – an election year, economic and social changes at the forefront, and probably will be for some time. There is never a ‘perfect time’ to buy or sell a home, 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 2020, contact us, and together we can prepare a plan that works for you in the current market.

          In the meantime, take a look at some interesting trends in 2019 Arlington real estate:Steve McKenna & The Home Advantage Team, Arlington MA

          2019 Arlington MA Real Estate Market

          *

          2019 Arlington MA Homes Sold

          **

          2019 Sales Review

          By The Numbers

          Buying or Selling in Arlington MA

           

          *Source: MLS: 1/1/2018 - 12/31/2018 & 1/1/2019 - 12/31/2019 

          **Source: MLS: 1/1/2019 - 12/31/2019

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            2019 v 2020 Arlington Sales To Date

            The Arlington real estate market is holding steady. 
            Our recent stats show single-family and multi-family home sales increasing in value from last year. Interestingly, while condo values appear to have decreased, it’s actually a reflection of smaller sized and therefore lower-priced condos coming on the market. 

            What Does This Mean for You?
            Arlington has been, and continues to be, one of the most resilient real estate markets during times of uncertainty. Homes sales are strong, and once we come out on the other side of these challenging times, we will see an abundance of activity in our area. Don’t miss out on what is sure to be a very active spring/summer real estate market. Contact us today

            2019 v 2020 Arlington Sales To Date

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              Real Estate a Greater Boston Bright Spot

              Despite a global pandemic, social unrest and economic challenges, the real estate market in Greater Boston remains strong – a true testament to the robust and real-estate-resilient area we live in.

              Buyers are still buying and sellers are still selling.

              Based on the data comparing Arlington home sales in 2020 vs. 2019, you’ll notice that both single-family homes and multi-family homes are on the market slightly longer in 2020 than 2019, but home values for both properties continue to rise in 2020.

              Interestingly, condo homes are the opposite – selling faster in 2020 than 2019 but at slightly lower values.

              Overall, the real estate market is strong, buyer demand is high and prices are stable and rising. This is good new for anyone thinking about buying or selling their home this year. Don’t wait, just put your home in our hands.

              *MLS data Jan 1 – May 31, 2019-2020

              Arlington Single-family home sales (listed and sold)

              Arlington Multi-family home sales (listed and sold)

              Arlington Multi-family home sales (days on market)

              Arlington condo home sales (listed and sold)

              Arlington condo home sales (days on market)

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                Arlington's Top 10 Real Estate Facts, August 2020

                There is just so much happening with Arlington real estate (and beyond) these days it can be hard to boil it down into what's most important, right now. 

                The Arlington real estate market is different from the national market, it is different from the Massachusetts market, and it’s even different from neighboring Cambridge or Lexington markets. While it can be influenced by these broader factors, it is its own entity with its own trends and direction.

                To break it down, here are our top 10 facts about the Arlington real estate market, right now:*

                1.       The number of single-family homes sold is down 11% as compared to this time last year.

                2.       The average single-family home sale price is up by $17,255 as compared to this time last year.

                3.       The number of condo homes sold is down 5% as compared to this time last year.

                4.       The average condo sale price is up by $28,412 as compared to this time last year.

                5.       The number of multi-family homes sold is down 33% as compared to this time last year.

                6.       The average multi-family home sale price is up by $121,389 as compared to this time last year.

                7.       Arlington is a premier community for anyone looking for more square footage, in-home office space, or a yard outside of Boston.

                8.       Arlington provides an array of distinctive housing, offering up options for first-time home-buyers, downsizers, investors, families, and anyone looking to be part of a vibrant community.

                9.       Inventory is down and home values are up, making it a prime time to be a home seller in Arlington.

                10.   Now a part of Gibson Sotheby’s International Realty, Steve McKenna & The Home Advantage Team are firmly established as Arlington’s #1 real estate team for more than 30 years and counting.

                It can be difficult to decipher what is relevant and what is extraneous in real estate - in Arlington or elsewhere. So if you are thinking of buying or selling, it is critical to have a team with feet on the street and an insider's eye to an evolving buyer and seller market. Contact us today, and put your home in our hands.

                *MLS Arlington Home Sales Jan. 1 - July 31 2019, Jan. 1 - July 31 2020

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