Each month I prepare a summary of the sales data in the
town, this data provides some general view of what the market is doing.
For a better understanding of how this relates to your specific
interests please give me a call at 781-771-7216. The graph below shows the monthly numbers for the last year. The line is for the median price and the bars for the numbers of homes sold.
In the Single Family market, there were 57 properties listed August 1. This is exactly the same as last year. Sales volume
in July was off from both June and last year with 32 homes sold. This was likely due to the end of the homebuyer's tax incentive. The
median sales price was up from June and from last year at $557,000. In July the
average time on market was only 40 days. Currently we have less than
a 2 month supply of homes for sale which indicates that the
Arlington, Ma. market remains strongly in favor of those selling
property.
The tax incentives fueled a strong spring and early summer this year. As expected that early summer rush slowed down July and I expect August numbers also to be soft as the market adjusts to the effect. However with mortgage rates low and the normal summer seasonal strength I expect that late summer will pick up and Arlington will continue to be a strong market through 2010.
For a longer term view of the market click here for the Quarterly Report, or call Mike at 781-771-7216 for a detailed review of how the market can affect your goals.
