Welcome to our first post in a new series of market updates focused on the last 30 days specific real estate markets in Massachusetts. We decided to only focus on thirty-day market updates because the market is changing so fast these days that looking at anything longer would not be of much help to most active buyers and sellers. So stay tuned your blog and continue to stay updated on your favorite Massachusetts real estate market.
In this post we take a look at the Arlington MA condo market over the past 30 days.
Whats On The Market?
As of today, there are currently 37 condos for sale Arlington Massachusetts With an average days on market of 67 days. The lowest priced condo for sale is less than $125,000 and the highest priced condo currently on the market and listed for $824,000 with the average condo price hovering right around $380,000.
Price Drops For Arlington MA Condos?
Over the past 30 days there have been 15 condos in Arlington Mass that have reduced their price at an average price reduction of 2.37% or roughly $8000.
Currently the earth 34 condos under agreement in Arlington with an average final list price of $379,000.
Are Condos Selling?
YES!, over the past 30 days 28 condos have sold at an average price of $385,000 and an average days on market of 53 days. The average sales price the list price ratio for the sold condos at Arlington Mass is at 99% of asking price for the last 30 days.
What Does This Mean To ME?
So what does all this mean to you? First off if you're a seller thinking about selling your Arlington MA condo then the market is showing signs of strength with it's low days on market in very high asking price to list price ratio! This also means that if you are a seller who's been sitting on the market for more than 60 days you are probably overpriced and should start by dropping the property by roughly 2%. Finally, if your buyer looking to purchase a condo in Arlington Massachusetts then you should be prepared to make an aggressive offer for any properties that have been on the market for less than 60 days if you don't want to run the risk of getting beat out by another buyer. Overall, the market is showing good signs of recovery in Arlington Massachusetts.
Thanks for reading this post. We look forward to bringing you more valuable information on Arlington real estate market in the very near future. In the meantime if you need any help with buying or selling your Arlington property please contact David Laven your Arlington Mass real estate expert at 617-259-0235.