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RE/MAX Leading Edge Market Update for August.
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L12.3% Increase in Median Sale Price since
January! !Prolonged scarcity of inventory continues in Arlington! All price points see bidding wars of 4-10 bids and winners submitting all cash offers.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Arlington
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L4.3% Increase
in Median Sale Price since January !The Back Bay continues to flourish with international buyers soaking up the limited inventory, thus escalating square footage prices. New development is on the horizon with trendsetting condo buildings attracting buyers to Chinatown, South End and Financial district.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Back Bay
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Condominium Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L21.8% Increase in Median Sale Price Since
January! !Homes priced under $1M are still selling briskly with multiple offers. The higher-end market still commands demand with very busy open houses. However, as inventory levels rise in the $1.5M+ range, buyers take their time on submitting an offer with only sharply priced homes selling quickly.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Lexington
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L3.6% Increase
in Median Sale Price since January!
!The Lynnfield market is showing signs of slowing. Inventory is creeping upwards with many homes in the $500k-$700k range sitting as sellers push the envelope on price. Homes selling quickly are realistic on price and are in good condition.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Lynnfield
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L18.0% Increase
in Median Sale Price since January!
!We’re still experiencing a seller’s market in the heart of Summer. Homes priced $350,000-$550,000 sell quickly with multiple offers. Homes in the $600,000-$1,000,000 range still sell quickly but without the ‘guaranteed’ bidding war. Last year, the buyers picked up activity in early October…we’ll see if the same happens this year.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Melrose
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L8.5% Increase
in Median Sale Price since January!
!Properly priced entry-level homes priced under $1M are still selling quickly - many times during the first week of market exposure. Higher-end properties, $1.5M+, are sitting on the market for a longer period of time.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Newton
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L1.1% Increase
in the Median Sale Price since January
!We’re still experiencing a seller’s market in the heart of Summer. Homes priced $350,000-$550,000 sell quickly with multiple offers. Homes in the $600,000-$1,000,000 range still sell quickly but without the ‘guaranteed’ bidding war. Last year, the buyers picked up activity in early October…we’ll see if the same happens this year.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Reading
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L18.1% Increase in Median Sale Price since
January! !
Motivated buyers are finding more success in Somerville as many less motivated buyers have grown weary of the bidding wars. Open houses are still very busy with properly priced properties selling within a week.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Somerville
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Condominium Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L4.3% Increase
in Median Sale Price since January!
!We’re still experiencing a seller’s market in the heart of Summer. Homes priced $350,000-$550,000 sell quickly with multiple offers. Homes in the $600,000-$1,000,000 range still sell quickly but without the ‘guaranteed’ bidding war. Last year, the buyers picked up activity in early October…we’ll see if the same happens this year.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Wakefield
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L10.7% Increase
in Median Sale Prices since January!
!Inventory is still very tight in Watertown. Homes are taking slightly longer to sell and activity at open houses has slowed since the peak season of Springtime.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Watertown
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L8.2% Increase in Median Sale Price since
January! !
Average active list price is high at $1.3M with inventory still extremely low. Low inventory and bidding wars are also causing the rental market to explode in Winchester as it continues to be favorite destination for locals and relocation buyers alike.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT Winchester
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
L5.6% Increase
in Median Sale Price since January !Sellers are disregarding typical seasonality for putting their homes on the market (i.e. Spring and Fall). They know if they price it right, it will sell with multiple offers, over asking price.
RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT
AUGUST REAL ESTATE MARKET REPORT North Reading
Seller’s!Market!!!!!!!!!!!Even!
Market!!!!!!!!!!!Buyers!Market
Source: Single-family home Median Sales Price data extracted on (8/14/14) via imaxwebsolutions.com!Prior Period: 1/1/13-8/14/13 Current Period: 1/1/14 - 8/14/14
