Monthly Archives: October 2014

Concord Statistics – October 2014

The current months statistics for the Concord real estate market are shown below.

Inventory Levels

If an inventory level graph shows seasonal fluctuations then we know that the market is ‘healthy’ and showing normal activity. If seasonal fluctuations are not obvious then what we are seeing is an ‘unhealthy’ market where foreclosures and short sales have cluttered and hidden the normal trends of the market. Price trends can be learnt from inventory level data – in a ‘healthy’ market with demand greater than supply, prices tend to move up. In an ‘unhealthy’ market where supply far outstrips demand then the trend on prices is down. This follows the normal Supply and Demand market dynamics.

Absorption Rates

Absorption rates can be described as the number of months needed to sell the available inventory at the rate of sales experienced in the previous 12 months IF no additional properties were listing during that time.

So, given the ‘normal’ rate of sales that have occurred over the previous 12 months, and given the number of homes on the market currently, how many months it would take to sell everything that is currently available is known as the absorption rate. We generally say that anything below 7 months supply is ‘healthy’. The absorption rate can be a general rate for a town, for instance, for all single family homes in that town, or it can be more specific and related to price ranges.

Sold/Original Price Ratios

By reviewing the sold to original list price ratio you can get a very good understanding of the health of the real estate market in a town, and the cyclical nature of sales in the town. The number of homes sold, along with the average percentage of the original list price to sales price data, gives you a snapshot over the last 12 months of important data related to the real estate market in a town. It is important to note that the reported data is approximately 6-8 weeks behind the actual event of the home going under agreement.

Historic Homes Prices

The blue bars represent the average price in the year referenced, the green bars reflect the average home price for each month of the current year. When reviewing this data it is important to note the impact that the First Time Home Buyers Tax Credit had on the data for 2009 and 2010. In towns where the average home price is significantly more than the approximate home price of a first time home buyer then the impact is quite marked due to the increase in First Time Home Buyer activity, whereas in towns where the average home sale price is close to that of the approximate price of a home for a First time Home Buyer we don’t see too much of an impact that the increase in home sales due to First Time Home Buyers has had to the overall average for the town.

Homes Sales

A wealth of information about Concord as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website http://www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

1 Oakland St, Lexington – Sold in the First Weekend


Last weekend we put 1 Oakland St, Lexington on the market. The home, priced at $965,000, has 4 bedroom, 2.5 bathroom and is an immaculate village colonial just steps away from historic downtown Lexington. Offers were reviewed on Monday and the property went under agreement. The price was substantially over the asking price of $965,000. It seems that the high demand for homes in Lexington that we saw in early 2014 is continuing into the Fall market. Here’s the data for the last 12 months – the orange line is the ratio between list and sales price (a value of 100% means it sold for asking). The ratio often exceeded 100% in 2014 – expect the same for 2015 as demand exceeds supply in this very popular town.

This high ratio is (of course) driving up prices as buyers compete for homes:

A wealth of information about Lexington as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

3 Crescent Hill Ave, Arlington – Sold in the First Weekend


Last weekend we put 3 Crescent Hill Ave, Arlington on the market. The home has been recently refurbished, priced at $599,000 this 3 bedroom, 1.5 bathroom home and located steps from the historic Mt Gilboa area on a dead end street! Offers were reviewed on Monday and the property went under agreement. The price was substantially over the asking price of $599,000. It seems that the high demand for homes in Arlington that we saw in early 2014 is continuing into the Fall market. Here’s the data for the last 12 months – the orange line is the ratio between list and sales price (a value of 100% means it sold for asking). The ratio often exceeded 100% in 2014 – expect the same for 2015 as demand exceeds supply in this very popular town.

This high ratio is (of course) driving up prices as buyers compete for homes:

A wealth of information about Arlington as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

Winchester Statistics – October 2014

The current months statistics for the Winchester real estate market are shown below.

Inventory Levels

If an inventory level graph shows seasonal fluctuations then we know that the market is ‘healthy’ and showing normal activity. If seasonal fluctuations are not obvious then what we are seeing is an ‘unhealthy’ market where foreclosures and short sales have cluttered and hidden the normal trends of the market. Price trends can be learnt from inventory level data – in a ‘healthy’ market with demand greater than supply, prices tend to move up. In an ‘unhealthy’ market where supply far outstrips demand then the trend on prices is down. This follows the normal Supply and Demand market dynamics.

Absorption Rates

Absorption rates can be described as the number of months needed to sell the available inventory at the rate of sales experienced in the previous 12 months IF no additional properties were listing during that time.

So, given the ‘normal’ rate of sales that have occurred over the previous 12 months, and given the number of homes on the market currently, how many months it would take to sell everything that is currently available is known as the absorption rate. We generally say that anything below 7 months supply is ‘healthy’. The absorption rate can be a general rate for a town, for instance, for all single family homes in that town, or it can be more specific and related to price ranges.

Sold/Original Price Ratios

By reviewing the sold to original list price ratio you can get a very good understanding of the health of the real estate market in a town, and the cyclical nature of sales in the town. The number of homes sold, along with the average percentage of the original list price to sales price data, gives you a snapshot over the last 12 months of important data related to the real estate market in a town. It is important to note that the reported data is approximately 6-8 weeks behind the actual event of the home going under agreement.

Historic Homes Prices

The blue bars represent the average price in the year referenced, the green bars reflect the average home price for each month of the current year. When reviewing this data it is important to note the impact that the First Time Home Buyers Tax Credit had on the data for 2009 and 2010. In towns where the average home price is significantly more than the approximate home price of a first time home buyer then the impact is quite marked due to the increase in First Time Home Buyer activity, whereas in towns where the average home sale price is close to that of the approximate price of a home for a First time Home Buyer we don’t see too much of an impact that the increase in home sales due to First Time Home Buyers has had to the overall average for the town.

Homes Sales

A wealth of information about Winchester as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website http://www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

Lexington New Construction – Trends

Driving down Lincoln Street in Lexington I saw these blast mats (made out of recycled tires) being used to protect the surrounding houses as they blast the foundations for a new home. It got me thinking – developers used to avoid this part of Lincoln Street as the houses were built on ledge and so construction costs would be higher. So, what’s changed in the market to make building in these areas viable?

Firstly its prices – we’ve seen a steady rise in the average/median price for a new construction homes in Lexington since the low in the market in 2010:

Next its the popularity of the town – with record low inventory and high demand (great commute, best in class schools and vibrant town) the number of new construction homes has been rising as more and more developers build in Lexington.

This raises lots of questions on land prices, should I sell directly to developers?, are we seeing a similar trend in other towns – but I’ll leave these questions to subsequent blog posts.

A wealth of information for over 40 other towns (and a lot more information on new construction) can be found on our website www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

1 Oakland St, Lexington – Just Listed

Check out this home that we’ve just bought on the market this week. 1 Oakland St, Lexington – priced at $965,000 this 4 bedroom, 2.5 bathroom home is immaculate village colonial is just steps away from historic downtown Lexington. This home with its white picket fence and farmer’s porch welcomes you to sit and watch the world go by.

Signature Open House Sat/Sun (Oct 25/26) 1:00pm-3:00pm.

You can find more info at www.1OaklandSt.com or if you’re on your smartphone mobile.1oaklandst.com

3 Crescent Hill Ave, Arlington – Just Listed

Check out this home that we’ve just bought on the market this week. 3 Crescent Hill Ave, Arlington – priced at $599,000 this 3 bedroom, 1.5 bathroom home is located steps from the historic Mt Gilboa area on a dead end street, this home is walking distance to all that Massachusetts Avenue has to offer. Prominently sited on a corner lot, this home has charm and curb appeal. Loaded with features inside, yet still retaining its original charm, this home has the best of past and present.

Open House Sat/Sun (Oct 25/26) 1:00pm-3:00pm.

You can find more info at www.3CrescentHill.com or if you’re on your smartphone mobile.3crescenthill.com

Andover Statistics – October 2014

The current months statistics for the Andover real estate market are shown below.

Inventory Levels

If an inventory level graph shows seasonal fluctuations then we know that the market is ‘healthy’ and showing normal activity. If seasonal fluctuations are not obvious then what we are seeing is an ‘unhealthy’ market where foreclosures and short sales have cluttered and hidden the normal trends of the market. Price trends can be learnt from inventory level data – in a ‘healthy’ market with demand greater than supply, prices tend to move up. In an ‘unhealthy’ market where supply far outstrips demand then the trend on prices is down. This follows the normal Supply and Demand market dynamics.

Absorption Rates

Absorption rates can be described as the number of months needed to sell the available inventory at the rate of sales experienced in the previous 12 months IF no additional properties were listing during that time.

So, given the ‘normal’ rate of sales that have occurred over the previous 12 months, and given the number of homes on the market currently, how many months it would take to sell everything that is currently available is known as the absorption rate. We generally say that anything below 7 months supply is ‘healthy’. The absorption rate can be a general rate for a town, for instance, for all single family homes in that town, or it can be more specific and related to price ranges.

Sold/Original Price Ratios

By reviewing the sold to original list price ratio you can get a very good understanding of the health of the real estate market in a town, and the cyclical nature of sales in the town. The number of homes sold, along with the average percentage of the original list price to sales price data, gives you a snapshot over the last 12 months of important data related to the real estate market in a town. It is important to note that the reported data is approximately 6-8 weeks behind the actual event of the home going under agreement.

Historic Homes Prices

The blue bars represent the average price in the year referenced, the green bars reflect the average home price for each month of the current year. When reviewing this data it is important to note the impact that the First Time Home Buyers Tax Credit had on the data for 2009 and 2010. In towns where the average home price is significantly more than the approximate home price of a first time home buyer then the impact is quite marked due to the increase in First Time Home Buyer activity, whereas in towns where the average home sale price is close to that of the approximate price of a home for a First time Home Buyer we don’t see too much of an impact that the increase in home sales due to First Time Home Buyers has had to the overall average for the town.

Homes Sales

A wealth of information about Andover as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website http://www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

Belmont Statistics – October 2014

The current months statistics for the Belmont real estate market are shown below.

Inventory Levels

If an inventory level graph shows seasonal fluctuations then we know that the market is ‘healthy’ and showing normal activity. If seasonal fluctuations are not obvious then what we are seeing is an ‘unhealthy’ market where foreclosures and short sales have cluttered and hidden the normal trends of the market. Price trends can be learnt from inventory level data – in a ‘healthy’ market with demand greater than supply, prices tend to move up. In an ‘unhealthy’ market where supply far outstrips demand then the trend on prices is down. This follows the normal Supply and Demand market dynamics.

Absorption Rates

Absorption rates can be described as the number of months needed to sell the available inventory at the rate of sales experienced in the previous 12 months IF no additional properties were listing during that time.

So, given the ‘normal’ rate of sales that have occurred over the previous 12 months, and given the number of homes on the market currently, how many months it would take to sell everything that is currently available is known as the absorption rate. We generally say that anything below 7 months supply is ‘healthy’. The absorption rate can be a general rate for a town, for instance, for all single family homes in that town, or it can be more specific and related to price ranges.

Sold/Original Price Ratios

By reviewing the sold to original list price ratio you can get a very good understanding of the health of the real estate market in a town, and the cyclical nature of sales in the town. The number of homes sold, along with the average percentage of the original list price to sales price data, gives you a snapshot over the last 12 months of important data related to the real estate market in a town. It is important to note that the reported data is approximately 6-8 weeks behind the actual event of the home going under agreement.

Historic Homes Prices

The blue bars represent the average price in the year referenced, the green bars reflect the average home price for each month of the current year. When reviewing this data it is important to note the impact that the First Time Home Buyers Tax Credit had on the data for 2009 and 2010. In towns where the average home price is significantly more than the approximate home price of a first time home buyer then the impact is quite marked due to the increase in First Time Home Buyer activity, whereas in towns where the average home sale price is close to that of the approximate price of a home for a First time Home Buyer we don’t see too much of an impact that the increase in home sales due to First Time Home Buyers has had to the overall average for the town.

Homes Sales

A wealth of information about Belmont as well as over 40 other towns (and a lot more information on buying/selling) can be found on our website http://www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.

Five Financial Reasons to Buy

Interesting graphic showing the conclusion of a Harvard University study on the benefits of renting verses buying a home. This graphic from the report shows how house prices have tracked average household income, except for the boom years of 2003-2008. After the crash in 2009 prices have corrected and are no inline with average income again.

The complete Harvard University – Joint Center for Housing Studies report can be found here: The Dream Lives On:The Future of Homeownership in America

A wealth of information for over 40 other towns (and a lot more information on buying/selling) can be found on our website http://www.mapropertiesonline.com (or if you’re on your smartphone – mobile.mapropertiesonline.com) and if you have any questions do not hesitate to contact us.