THE RIVERBANK LOFT at 290 PLEASANT STREET in WATERTOWN, MA
Overview
The Riverbank Lofts is a complex of 56 condominiums in Watertown. The Riverbank Lofts are located at 290 Pleasant Street in Watertown, MA. The condominiums were constructed in 2006 in a building originally built as an office building and then converted into condominiums. Every unit comes with 2 deed parking spaces.
Units & Pricing
The units are all 1 bedroom or studio sized and range in size from around 621 square feet to 1,333 square feet. The units on the first floor have patios, while the back side of the building overlooks The Charles River. The original units came with washer and dryer included in the units, but resale units will obviously have the choice of keeping the washer and dryer if so desired. All units have 1 bathroom.
The monthly condominium fee ranges from the low $200's per month to the high $300's per month depending on size of the unit. The condo fee includes: Heat, Master Insurance, Elevator, Snow Removal, Refuse Removal.
Sales History
The number of sales over the last three years in MLS transactions has ranged from 4 year-to-date in 2008 to 32 in 2006.
2006 - Average Sales Price: $333,475 (10 units sold) with an Average Market Time of 24 days
2007 - Average Sales Price: $332,966 (32 units sold) with an Average Market Time of 93 days
2008 - Average Sales Price: $351,125 (4 units sold) with an Average Market Time of 495 days
Currently there are 4 condominium for sale at The Riverbank Lofts with an average list price of $342,166.33 and there is 1 unit that is currently Under Agreement that was listed at $350,000. For more information on the current listings or to be notified of any new listings at The Riverbank Lofts please email me at mark@smarthomesboston.com or call me directly at 617.448.9481.
Area
The Riverbank Lofts are located along the Charles River Bike Path, which leads all the way into Boston. It also has great access to the Mass Pike, Route 20 and more. With close access to Watertown Square's shops and restaurants this is a great commuter location.
02472 Real Estate News Watertown Planning Board Rejects Plan for Proposed 48 Unit Apartment Building on Pleasant Street
As reported on the Watertown Tab website (www.watertowntab.com), the Planning Board rejected the plans for a 48 unit apartment building at 140 Pleasant Street in Watertown. This building was supposed to take the site where Dan's Auto Service is located, on the river side of the street.
There are pros and cons to every project and citizens came out on both sides. Some mentioned the tax revenue that such a building would bring to the town, while others were against the increased traffic, blockage of sunlight and overall size of the building. To read the article in full, as featured on The Watertown Tab website, please click here.
As seen in the Boston Globe! One of my recent sold listings was featured in a Boston Globe article about how the stimulus plan is helping Watertown. It was great because they interviewed the buyers who bought the home and showed some of the work that they had begun putting into the home. The buyers talked about realizing that now is a great time to buy because of low home prices, low interest rates and the $8,000 tax credit for first time home buyers.
Take a minute to watch the video or read the article. The buyer talked about receiving a great deal and... he did! It was a house that needed a TON of work in a great neighborhood, so after they put in the effort they'll have a great house in a great Watertown neighborhood.
Watertown, Massachusetts Market Statistics Single Family Homes
The Watertown single family home market has seen depreciation year-to-date both in average sales price and median sales price. Although, total volume of sales is slightly down (26 sales in 2008 vs. 19 sales in 2009), there are some signs of life and some signs of sellers' acceptance of the current market.
As you can see, the average days on market for SOLD homes has decreased by 63% from 93 days in 2008 to 59 days in 2009. This shows that home owners are pricing their homes more appropriately for the current market and receiving offers at a faster rate than previously. Although price are down, inventory is still relatively equal between last year and this year. What this tells me is that home owners who need to sell are not allowing this market to get in their way. Home owners understand that the market being "down" is all relative to when you purchased your home.
For more information regarding Watertown market statistics or to receive the weekly market statistics via email, please contact Mark at mark.madden@commonmoves.com or call him directly at 617.448.9481.
The Village Condominiums is complex of 308 condominiums in Watertown. The Village is bound by Lexington Street, Belmont Street and Duff Street, including Pierce Road and Grant Avenue. The condominiums were constructed in 1940, so overtime they have all added their own interior touches. For the most part each unit comes with 1 deeded parking space.
Units & Pricing
There are a range of units size and layouts,but most units are around 1,300 square feet with 2-3 levels of living space (depending on a finished basement). For the most part, the units have 2 bedrooms and 1 bath on the 2nd level. The first level has a kitchen and open living room/dining room combination. I have included the most recent sales prices in the complex.
The monthly condominium fees are around $250. The condo fee includes: Water, Sewer, Master Insurance, Swimming Pool, Exterior Maintenance, Landscaping, Snow Removal, Clubroom, Refuse Removal.
As you can see by the condominium fee, the complex has its own swimming pool and club house which can be rented out for big gatherings. The grounds of The Village are very well maintained.
Sales History
The average sales price over the last five years has ranged from $275,700 in 2003 to $317,712 in 2005.
2003 - Average Sales Price: $275,700 (15 units sold) with an Average Market Time of 65 days
2004 - Average Sales Price: $310,060 (20 units sold) with an Average Market Time of 25 days
2005 - Average Sales Price: $317,712 (28 units sold) with an Average Market Time of 31 days
2006 - Average Sales Price: $302,524 (21 units sold) with an Average Market Time of 64 days
2007 - Average Sales Price: $299,939 (22 units sold) with an Average Market Time of 68 days
2008 – Average Sales Price: $286,714 (7 units sold) with an Average Market Time of 95 days
Currently there are 3 condominiums for sale at The Village ranging in price from $289,000 to $297,500.
Thus far in 2009 only 1 unit has sold at The Village. It was listed at $300,000 and sold for $296,000.
Area
The Village is located only a short walk to the Waverley Square commuter rail into Boston or the 73 Bus to Harvard Square. These condominiums are great for the commuters as they get you away from the city but allow for a single family feel on a condominium budget.
I wanted to do a very @nik_nik Irish Blessing dedication today to everyone celebrating St. Patrick's Day.
I hope everyone enjoys the day. If you're in the Watertown area and looking for some Irish entertainment or a good meal stop by Fitz's on Main Street in Watertown to watch the Brother of August at 2:00 this afternoon. Fitz's is serving a corned beef dinner for $6.95.
Or you could stop by Donahue's Bar & Grille to have their Traditional Irish Breakfast until 11:00 AM for $9.95. Starting at 11:00 AM they will be serving all-you-can-eat Corned Beef Dinner with Soda Bread for $5.95.
All in all, there is a lot to choose from for Irish entertainment on this St. Patrick's Day. Enjoy and have a great day!
In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Belmont, MA. I will be posting the market Statistics for Belmont, MA on Mondays.
The Belmont, MA housing market has seemingly hit a bump in the road according to the most recent market statistics. Single family home prices have depreciated -$109,810 and multi-family home prices have depreciated -$124,500. However, there is promise in the Belmont market and that can be found in the condominiums.
The average sale price for condominium homes has risen $13,302 since last year at this time. There have been 4 sales in 2009, compared to 6 sales last year. There is still room for improvement, mostly in the shape of days on market. Both active condominium homes and sold condominium homes are averaging over 200 days on the market. The reason for this is overpricing. Condominiums are selling at an average of 89% of the original listing price.
Single family homes have seemingly slowed. Comparatively, there has been 10 sales in 2009 to the 25 sales we had at this point last year. We have greater inventory on the market this year, but the homes are sitting on the market for longer period of time due to high prices.
Want some perspective? I know I do! Check out the video to learn if YOU can sell your Belmont home and not lose money. I took the statistics below from an article printed in The Boston Magazine titled "How's the Market Been Treating Your Town?" I talk a bit more indepth about them in the video below. Take a peek.
CAN I SELL IN BELMONT, MA? BRING ON THE PERSPECTIVE!
For more information on my business please click the logo below or email me at mark@smarthomesboston.com. If there is anything you are interested in having me discuss or a certain town/city that you would like market statistics for, please email me or call me at 617.448.9481.
In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Newton, MA. I will be posting the market Statistics for Newton, MA on Fridays.
Opportunity is the name of the game in Newton. Newton was featured in an article for Boston Magazine titled "Best Places to Live 2009: The Teflon Ten". In this article it calls Newton condos a cautious buying opportunity because the median sales price is down 5% from 2007.
The Newton Market Statistics definitely present great opportunity for buyers across the board. There is an increase in inventory, a decrease in average and median sales prices and interest rates are still relatively low.
With a rise in inventory that means that there are more options availabe. 203 single family homes in 2009 vs 157 single family homes on the market in 2008.
I know that this will post will worry sellers, but please do not fret. Depending on when you bought, you may still have equity in your home too.
For more information on my business please click the logo below or email me at mark@smarthomesboston.com. This is the first installment of the video series, so anything you are interested in having me discuss then please email me or call me at 617.448.9481.
In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham and Brighton. Below are the market statistics in Watertown, MA. I will, typically, be posting the statistics for Watertown on Mondays.
Lets start with Single Family Homes! The average days on market for single family homes has dropped from 110 days at this time last year to 72 days on market for homes that have sold. That is a great sign that there is buyer activity out there and that the low inventory and low prices are driving quicker sales.
WHO CAN SELL IN A DOWN MARKET? It's Perspective Time:
Now, let's tackle the condominium market. We have buyer activity out there because there has been 18 condominium home sales this year and there are 14 more condominiums that are currently Under Agreement. Average sales prices are down, so those who were waiting for prices to drop may be coming off the fence and ready to take advantage of the low interest rates.
What if I bought in 2000? Would it be safe for me to sell now and not lose money? Lets get some perspective.
Oh the multi family homes market, it seems so bad when you look at the numbers. Average sales price are down -$213,955 since last year at this time. There have been 4 sales as compared to 7 last year. There is lower inventory of 14 active properties on the market compared to 26 last year.
Is there good news? Wait... how can the median sales price be $490,000 compared to last year's $445,000. I am confused.
For more information on my business please click the logo below or email me at mark@smarthomesboston.com. This is the first installment of the video series, so anything you are interested in having me discuss then please email me or call me at 617.448.9481.
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