First a review of where we came from. For Arlington, Ma.
the market volume and the prices peaked in 2005, at an
annual
volume of 303 units and a median price of $372,500. Prices have shown approximately a 5%
pullback from that high. In
2009 215 units sold so the volume has dropped 26%. The graph below
shows the numbers for the last 10 years. The line is for the median
price and the bars for the numbers of homes sold.
There is seasonal effect in the Arlington market with Q1( Jan, Feb and Mar) and Q4 ( Oct, Nov, Dec) tending to be lower volume. In 2008 , Q2 ( Apr, May, Jun) and Q3 (
Jul,Aug,
Sept) were very strong. In Q2 2010
volume came back higher than 2009 numbers, prices have also increased. The graph below shows the Quarterly numbers for the last 4 years.
The line is for the median price and the bars for the numbers of homes
sold.
The condo market is somewhat
more complicated than the single family market in that there are
several competing types of condominiums on the market. There have a
significant number of condo conversions where 3 and 4 family houses
have been re-habbed and converted. There have also been some new
luxury condominium complexes built, so price numbers can be hard to
interpret. For your specific are of interest please give me a call
directly.
The first half of 2010 has been strong for Arlington Ma. Condos. With mortgage rates at
historic lows and some signs of the economy improving we should see continued market stability as we move through the summer of 2010, although likely will see some drop after the expiration of the tax incentives.
Call Mike at 781-771-7216 for a detailed review of how the market can affect your goals.
