In an effort to be knowledgebale of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Belmont, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Belmont, MA market statistics weekly on Tuesdays.
As you can see there has been appreciation year-to-date in the Single Family market of Belmont at 5% (up $38,000 form last year). Condominiums, however, have seen a sharp decrease in price (down 18%), while Multi-Families have seen a very slight decrease in price (-1%)
Inventory is down in all three categories which is good for sellers on the market that are priced right. By pricing yourself in the market, with low inventory, you are creating less competition for yourself and the potential for a multiple offer situation.
Total number of sales is down this year, but that could be related to the lower inventory as well.
If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com
Please click here to visit the Know Your Market Archives.
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