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- 1. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Arlington 10.1% Increase in Median Sale Price since January! ! The market is slowing down in terms of available inventory. We’re seeing some new buyers coming out to shop for a Spring 2015 purchase. Under $1m remains hot and selling quickly. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 2. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Back Bay 17% Increase in Median Sale Price since January! Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market It’s a very hot market with properties selling quickly for an average of 96% of list price. The higher end of the market, however ( $4 million listings) are languishing on the market, with some over 300 days on market. Source: Condo Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 3. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Lexington 7.8% Increase in Median Sale Price Since January! ! The Lexington market can be described as a “Tale of Two Cities”. Properties priced under $1.3 million are flying off the market with multiple offers. Buyers find much more favorable conditions in the $1.5 million price point and higher. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 4. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT 5.8% Decrease in Median Sale Price since January Lynnfield still lacks inventory to meet the demand. However, buyers are finding it easier to buy this Fall compared to last Spring. ! Lynnfield Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 5. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Melrose 13.8% Increase in Median Sale Price since January! ! The Melrose market seems to be slowing for smaller properties that need work or properties that are over-priced. The 'move up' properties, 2400+ sq. ft. are in high demand with one recently receiving 14 offers! L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 6. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Newton 8.8% Decrease in Median Sale Price since January ! The 'starter homes' market in Newton still remains brisk but the luxury market has slowed since the Spring; entering a typical seasonal-type L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market market with the holidays approaching. Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/314/14 Current Period: 10/4/14 - 11/4/14
- 7. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT North Reading 1.2% Increase in Median Sale Price since January ! We have noticed a drop off in activity in appointments and open houses. However, it’s still a good time to sell as most sellers are considering a Springtime move. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 8. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Reading 18.4% Decrease in the Median Sale Price since January ! ! A small sample is the reason for the 18.4% decrease in median sales price as values have risen since January. It’s still a seller's market but things are slowing down a bit. Instead of 8 offers on a hot property there are only 1 or 2 now. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 9. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Somerville 39% Increase in Median Sale Price since January! ! With holidays approaching, inventory is decreasing but demand is still there. Open houses are still very busy and properties that are priced correctly sell with multiple offers. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Condo Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 10. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Wakefield 6.1% Increase in Median Sale Price since January! !! Inventory remains tight, but buyers are finding they stand a better chance of buying a home as the bidding wars have slowed down. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 11. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Watertown 3% Increase in Median Sale Prices since January! ! The market is steady but properties are moving at a much slower pace than they were in the Spring. We then saw the market return to more of a seasonal market in July and August. Good news for first time home buyers, finally some inventory from which to choose! L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14
- 12. RE/MAX LEADING EDGE MONTHLY REAL ESTATE REPORT NOVEMBER REAL ESTATE MARKET REPORT Winchester 17.3% Decrease in Median Sale Prices since January ! The decrease is more reflective of the limited sample of houses sold rather than actual value. Insulated from typical real estate market ebbs and flows, Winchester consistently remains as a destination for those in Metro Boston. However, the market has slowed a bit since the peak in Springtime. L Seller’s! Market! !!!!!!!!!! Even! Market! !!!!!!!!!! Buyers! Market Source: Single-family home Median Sales Price data extracted on (11/4/14) via imaxwebsolutions.com! Prior Period: 1/1/14-1/31/14 Current Period: 10/4/14 - 11/4/14