The number of homes sold in the third quarter has increased each year for the past three years. In a year to date comparison with 2011, 34 more single family homes (232) have sold this year, 11 more multi-families (30) and the same number of condo/townhouses ( 171).
Arlington is a strong marketplace, attracting home buyers interested in the community, the ease of transportation to Boston and Cambridge via bus or car, numerous parks and desirable neighborhoods. According to a recent article from USA Today (10/2/12) indicated a increase in home prices was a result of a small inventory of homes listed for sale and a growing number of home buyers taking advantage of low interest rates – an incredible 3.25% 30 year fixed rate as of the writing of this blog. Buyers are recognizing that home values have been appreciating and, along with the low rates, have decided that now may be the right time to buy.
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As for home sellers, if you have been waiting to sell, fearing your home market values may not be as high as they were in the past… now may be your opportunity. The growing number of buyers wanting to take advantage of the historically low interest rates in our marketplace has created a demand for housing in the Boston suburbs. This is driving property values up in Arlington and the surrounding communities, Belmont, Watertown etc. A report from Reuters News (10/2/12) tracking home values have increased nearly 5% from August 2011 to August 2012… Additionally, home prices were up in September 2012, 6.3% from September 2011.
Please contact me to discuss your Home Buyer and Seller needs; as a member of Century 21 Adams KC, Arlington MA, I have the privilege of a world class company in Century 21 to provide you with unparalleled service from start to finish!
Written by James C. Trano, REALTOR®
Contributions from Adam Rosenbaum, REALTOR® & Kathy McCloskey, REALTOR® – Century 21 Adams KC
James C Trano, REALTOR® – 857.209.6060 – C21JTrano@Gmail.com
Home Market Sales Reports
Cambridge – 2011 vs. 2012
Lexington – 2011 vs. 2012
Somerville – 2011 vs. 2012
Watertown – 2011 vs. 2012