Watertown, MA Real Estate News

By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 mo...
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The location at Hamilton Place can't be beat! Located 3 blocks from Watertown Square, close to the MA Pike, and all major routes, convenient to the shops and restaurants of Watertown Square, the bike path, Express Bus to Boston and the trolley to Harvard Square. 2 units are currently available. Great opportunity to live in a professionally maintained building with exercise room, laundry on each floor, extra storage, and one deeded parking space. Unit 1: List Price: $219,000, Bedrooms: 1 Bathrooms 1, Living Area: 700 sq. ft, Assc. Fee: $260.17 Unit 2: List Price: $289,900, Bedrooms: 2 Bathrooms 1, Living Area: 940 sq. ft, Assc. Fee: $334.50   If you would like more information about these condominiums or if you or someone you know is looking for real estate in this area, please contact ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. This week, we saw a minor drop in listing inventory for both single family homes and condominium homes. The single family homes and multi-family homes have seen a slight decrease in average list price, which is great for buyers in the area. However, condominium homes have seen a slight increase in their average list price, which does not seem to make sense as we enter the deep winter months. Average market time for the active listings in Waterto...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. So, I want to touch on something this week that I have alluded to in past market statistics. We are now entering the "real" winter months, which has been historically slower for the real estate market (Side Note: We are still very busy at my office, with many accepted offers this past week and many more offers waiting for a yes or no). However, when I look at the market statistics it seems as though the sellers are not understanding the market. ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
The Warren Group has come out with its 4th Quarter Sales Review comparing statistics from September 2007 to September 2008 using Sales Volume and Median Prices. There was some great information included in this review, which shows great promise in our real estate market. Is it a good time to buy in Watertown, MA? Sure it is! Is it a great time to sell in Watertown, MA? Sure it is! How can I say that it is a good time to do both? Doesn't that contradict itself? Why would I say that when the media is reporting that we are in a horrible market? The media reports on the entire state of Massachusetts including many of the highly depressed areas, while real estate is local and needs to be taken on a town to town, neighborhood to neighborood basis. Back to the last question, how can I say it's...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
It is the season of giving and we at Century 21 Commonwealth have aligned ourselves with the Toys for Tots campaign in hopes of making the Holiday season a little brighter for children in the local area. If you or someone you know have new, unwrapped toys that you would like to donate to this great program, please feel free to contact me at 617.448.9481 or email me at mark@smarthomesboston I can either come by your house to pick up your donations or I can give you directions to our office in Watertown, so that you can place the gifts under our office tree. Thank you so much in advance for your support and I look forward to thanking you in person. Please click on the flyer below to download the PDF version and spread it around to your family, friends, neighbors and coworkers. Have a safe...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
A couple of weeks back, The Smart Homes Boston Blog was mentioned as a source for market statistics in Watertown by the Watertown Tab's online blog. As you can imagine, I was pretty excited by this because I make this blog as a way to help educate the people in Watertown, Belmont, Arlington, Brighton, Waltham and Newton as to there current market conditions and more. I hope that this recognition in the Watertown Tab online will help to create more traffic to the website and, in turn, help to create a better understanding of the market place by both buyers and sellers alike. On another note, I wanted to congratulate Christine Laubenstein of the Watertown Tab for her dedication to their online blog. She blogs on a variety of subjects and is making a great effort to provide both informativ...
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By Douglas Carson, Realtor
(Coldwell Banker Residential Brokerage)
The number of single family homes sold in Watertown, MA during the month of November was 3 in both 2007 & 2008. The average selling price increased dramatically from $469,000 in 2007 to $773,167 in 2008.  The average DOM (Days on Market) also increased dramatically to 163 days from 53 in 2007.
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. The real estate market in Watertown, MA has only had minor changes during the past week. There has been a slight drop in inventory in both Single Family homes and Multi-Family homes, while the condominiums inventory has remained constant. Both single family homes and condominiums have seen slight decreases in the average list price, but multi-family homes have has a slight increase in their average list price. An increase in average list price d...
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By Robin Brodsky
(Coldwell Banker)
Recently, there has been an increase in the use of the terms "green" and "energy efficient" across many industries and even in the political arena.  As with many other industries, the latest trend in residential real estate has been on "Going Green" and being "Energy Efficient."  But, what exactly does this mean? Green building practices have evolved to help to address significant local and global issues, including: Climate change; Natural resource depletion; Rising energy costs; Dependence on foreign oil and emerging renewable energy technologies; Pollution; and  Health and quality of life issues. Green homes are sited, designed, constructed and operated to improve and enhance the well-being of those living within.  Before constructing green homes, developers and architects assess the ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. This week we saw an increase in the condominium market's active volume rising from 71 last week to 78 this week. However, both condominium homes and multi-family homes have had an increase in listing price. Single family homes were the only category to drop in average list price, while increasing inventory by 1 home. The average list price is down from $547,411 last week to $518,445 this week which is a substantial and much needed drop. All hous...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 l...
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By Douglas Carson, Realtor
(Coldwell Banker Residential Brokerage)
The number of single family homes sold in Watertown, MA during the month of October decreased from 7 sold (2007) to 5 homes sold in 2008. The average selling price increased by almost 16% from $433,826 in 2007 to $502,600 in 2008.  The average DOM (Days on Market) decreased significantly to 88 days from 115 in 2007.
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. Between last week and this week there have been some minor difference to the market in Watertown. The number of Multi-Family homes on the market has increased by 4 since last week. This is great news for investors because in the 3rd quarter of this year, investment property purchases spiked by 40%. However, since last week there has been an increase in listing prices for all three housing sectors. This is surprising to me because we are heading ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. The columns read from left to right as Single Families, Condomniums and Multi-Families. As you can see there has been depreciation year-to-date in all the single families and multi-families, but we have seen slight appreciation in our condominium market. Although value is down in multi-families, we have actually seen higher volume of sales in this area; the volume is up slightly from last year at this time. Inventory is down in all categories, b...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Overview The Siena Village Condominiums is complex of 59 condominiums in Watertown. Siena Village entrances are on Highland Avenue and Lexington Street. The condominiums were constructed in 1989, so overtime past owners have added their own interior touches which create different price points per unit. For the most part each unit comes with 2 parking spaces, but some units on Angela Lane also have a garage space under the unit. Units & Pricing There size of the units depends on whether the basement has been finished,but most units are around 1,300 square feet with 2-3 levels of living space (with finished basement the living area is closer to 1,900 square feet). For the most part, the units have 2 bedrooms and 2.5 baths. The first level has a kitchen, living room, dining room and half b...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
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 Watertown, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Watertown, MA market statistics weekly on Mondays. As you can see there has been slight depreciation year-to-date between last year and this year. Single families are at -6%, condominiums are at -1% and multi-families are at -2%. Considering how the media reports massive depreciation, -1% and -2% are not that steep of a decline. Good news is that the inventory is down across the board, which means there is less competition and it is probable that a higher percentage of sellers are motivated to s...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Due to many requests, I wanted to update my readers on the current market as it pertains to The Village Condominiums in Watertown, Massachusetts. As you know from my previous post on The Village Condominiums, I have been tracking the sales history for the last 10 years in order to gain as much knowledge on the complex as possible. This year the numbers are down slightly in total number of sales and the units are averaging a lower sales prices. 2008 - Average Sales Price: $286,714 (7 units sold) The High Sales Price: $320,000 The Low Sales Price: $269,500 As you can see, there have been seven units that have sold at The Village Condominiums this year, but that does not mean that they were the only properties on the market. Currently there are zero units Under Agreement, meaning that an ...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Due to many requests, I wanted to update my readers on the current market as it pertains to The Chatham Condominiums in Watertown, Massachusetts. As you know from my previous post on The Chatham Condominiums, I have been tracking the sales history for the last 10 years in order to gain as much knowledge on the complex as possible. This year the numbers are down slightly in number of sales and the units are averaging a lower sales price. 2008 - Average Sales Price: $190,000 (1 unit sold) As you can see, there has only been one unit that has sold at The Chatham Condominiums this year, but that does not mean that it was the only property on the market. Currently there is 1 other unit that is Under Agreement, meaning that an offer has been accepted and it is pending a close. Also, year-to-...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
The other night Watertown's Safe Routes to School program was mentioned on the nationally aired NBC's Nightly News. Just about halfway through the video, which mostly talks about Somerville, New Jersey's program, Watertown is mentioned as another community taking the initiative to get children outside and walking to school under adult supervision. Watertown's program has its own page on the Watertown Bicycle and Pedestrian Committee and describes the purpose of the program as being: "Safe Routes to School is a program designed to improve the safety and health of our school children by promoting walking to school. Because children develop lifelong habits at an early age, encouraging them to walk more in the elementary years can help to establish behaviors that will lead to more active li...
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