Condo Comparison, Feb 2017

Hard to believe that we’re nearing the end the 1st quarter with lower inventories than ever before.  Being an optimist and given the current numbers there is only one way from here and that’s up.  Looking forward to a crazy spring market with a few surprises as the market slowly shifts.

JP vs Roslindale

 

Look who’s #1 in Jamaica Plain

We are so very excited to announce that we came in as the #1 real estate office in JP for 2016 in both sales volume and number of sides.  A major accomplishment for having opened the office in October of 2013, just three years ago. Congratulations to all.

The news is timely. We are just getting started in building out an adjacent office space where we are adding an additional conference room, team room and additional work areas for associates and team members to use. We’ll keep you posted on plans for our upcoming expansion party.

Condo Comparison – Dec 2016

Cambridge vs. Somerville

Happy New Year!

We’ve created this infographic that we will be using throughout the year to compare the condo market in Cambridge and Somerville. This will replace the condo trends we’ve sent out in the past.  Let us know what you think.

Thanks.

Cambridge vs Somerville Condos – Nov, 2016

Check out our new Neighborhood Condo Comparison infographic. We are ready for next year where we will be comparing the number of condos on the market year over year, looking at the year to date number of sales and more.

Below you will find neighborhood graphs showing: the number sales by month for the past three years, some interesting demographic tidbits and an area map.  You can also check out other neighborhoods using Clickable Maps on DestinyAgents.com or sign up for our Market Reports to receive information on properties similar to yours and in your neighborhood that are currently on the market and those that have recently been sold.  It’s a great way to get an idea of your homes appreciation.  If you want to dive deeper into the details just let us know. We can help.

July is Best Month for Mass. Home Sales Since 2005

July is Best Month for Mass. Home Sales since 2005, Grow 24.3 Percent Year-Over-Year

This_Old_House

The condo sales market in July was also robust, seeing 2,794 sales, the most since August 2007. This month’s mark was a 20.07 percent increase from July 2014, which had 2,327. July 2015 supplanted last month as the best month in the eight-year stretch. There were 2,764 in June. The median condo price in July was $337,500, up 3.85 percent from July 2014, when the median was $325,000. Year to date the median condo price has is $316,685, up .86 percent from $314,000 at this time last year. Warren Report read more…

July Monthly Indicators Greater Boston Real Estate Association

Paul’s Somerville Condo Trends – August 2015

AST

Somerville inventory was down 3.5% compared to August of last year. The number of condos that went “Under Agreement” remained in positive territory up 13%. Condo sales month to date were unchanged. Whereas sales year to date showed a negative 19% below August of last year. The average sales price increased by 10% to $516,018. The average sold square foot price went up $32 to $477 per square foot with an average unit size of 1,221 square feet.

Somerville Market Report – July 2015

ASC

New England Housing Report for July

Natick, MA – August 19, 2015 – The residential market in New England flourished in July, with all six New England states experiencing impressive double-digit growth in sales year-over-year. Throughout the region, sales are up 17.8%, pending sales are up 19.9% and average days on market is down 9.7%.
21,108 home sales were recorded in July, accounting for over 22% of this year’s total transactions. The region experienced a modest 2.4% increase in sales over June 2015, and has been climbing each month since February.
“As expected, sales in New England have continued to grow throughout the summer months,” said Dan Breault, EVP/Regional Director of RE/MAX INTEGRA, New England. “The market has continued to favor buyers over the spring and summer seasons with months supply of inventory increasing in each state since January of this year.”
To read the full report, click here.

Cambridge – Somerville Condo Trends for July 2015

By Paul Turcotte – Reports on other towns or property type and price ranges available on request.

Condominium sales rose in June with a total of 2,794 transactions completed compared with 2,429 in June 2014, a 15.0 percent increase. June marked the best month for condo sales since August 2007 and the first time in seven consecutive months that condo sales have increased on a year-over-year basis. Year-to-date sales of condos are down by 0.7 percent with 9,526 sales completed during the first six months of this year compared with 9,590 recorded during the same period last year. Read more from the Warren Group…Condos Sales Increase By 15.0 Percent…

July_Txt

July_Chart

Cambridge condo inventory continues to frustrate buyers and their agents being down 32% from a year ago. Now for some acceptable news, the number of condominiums that went “Under Agreement” was only 4% below the end of July 2014. Condominiums sold last month were 11% less with year to date sales down 7%. The average sale price remained stable at $745,246. The average sold square foot price was up $24 to $675 per square foot with an average unit size of 1,129 square feet.

Cambridge Market Report – June 2015

Somerville inventory was down 16% compared to July of last year. The number of condos that went “Under Agreement” was in positive territory up 14%. Condo sales month to date still ran a negative 8% with sales year to date coming in at 23% below the same time last year. The average sales price declined from $604,000 in June to $582,249. The average sold square foot price went up slightly to $500 per square foot with an average unit size was 1,195 square feet.

Somerville Market Report – June 2015