In an effort to stay “on top of” the real estate market in Watertown, MA we sort through the real estate market statistics for single families, condominiums and multi family homes. We make an effort to share this data with our clients and the internet users, so that we can help educate potential buyers and sellers about the realities in the Watertown, MA real estate market. a weekly basis. If you would like to see a different town featured or sent to you directly, please do not hesitate to contact us at info@themaddenteam.com.
Single Family Homes
Good quality single family homes are selling fast and for top dollar currently. The market has remained “flat” for single family homes as prices have, for the most part, not increased or decreased too much. The average sales price has decreased by roughly $13,000 but the median sales price is higher for 2012. I think this shows that Watertown single family homes are a solid sale for sellers right now, as they can price the property with market value and expect a solid offered from well qualified buyers looking to move closer to the city and maybe raise a family.
Condominiums
Condominiums have seen a sharp increase in condominium list prices, which isn’t because of the costly church renovated condominiums since many of those have sold. This is more reflective of a higher listing price for many condominiums in the area, but notice that the sales prices have barely changed since last year at this time. Higher list price does not mean higher sales price in all cases. The biggest difference is that 138 condominiums have sold this year compared to 101 at this time last year. That’s a difference of 37 condominium sales. This is proving that with the low interest rates and flattened out prices, buyers are willing and able to jump into the housing market and, it seems as though, Watertown is a destination for them!
Multi-Families
While the yearly sales are down, prices are slightly up in 2012. List prices have sharply risen in this area too, but that is spiked by a couple of high list prices. We have seen an incredible surge in the multi-family market with most properties receiving multiple offers when priced right. The biggest “in demand” properties are fixer uppers as developers are flocking to this properties to give themselves work and flip the property for profit.
For more information on the Watertown, MA real estate market or to receive this updates weekly by mail, please contact The Madden Team at info@themaddenteam.com or call us directly at 617-744-9195.
