Malden Real Estate Market Updates
Exterior replacement projects provide best return on investment
According to a recent survey taken by the National Association of Realtors, exterior replacement projects provide the best return on investment when it comes to remodelling your home.
According to the survey, the top 5 midrange projects were:
|
Project |
Approximate Cost |
Estimated Return Value |
Estimated Return |
|
Entry Door Replacement (steel) |
$1,137 |
$974 |
85.6% |
|
Deck Addition (wood) |
$9,327 |
$7,213 |
77.3% |
|
Garage Door Replacement |
$1,496 |
$1,132 |
75.7% |
|
Minor Kitchen Remodel |
$18,527 |
$13,977 |
75.4% |
|
Window Replacement (wood) |
$10,708 |
$7,852 |
73.3% |
The return of upscale projects also centered around outside improvements as well.
What was the least effective project? According to the survey, home office remodelling provided only 43.6% cost return to the homeowner.
For a complete view of all the lists, including a regional breakdown, click here.
Mortgage Rates
According to the Freddie Mac survey, average mortgage rates had mixed results for the week ending Thursday, February 7, 2013. The average 30 year mortgage remained unchanged at 3.53% and the average 15 year mortgage decreased from 2.81% to 2.77.
Mortgage rates one year ago were 3.87% and 3.16% for the 30-year and 15-year fixed mortgages.
Snapshot of the Malden Real Estate Market
Source: MLS Property Information Network
| Single Family | Condos | Multi Family | |
| # of Listings: | 40 | 26 | 16 |
| Avg. Liv.Area SqFt: | 1,502.53 | 1,131.27 | 2,856.94 |
| Avg. List$: | $297,704 | $215,970 | $420,638 |
| Avg. List$/SqFt: | $211 | $199 | $151 |
| Avg. Days on Market: | 78.43 | 108.65 | 305.31 |
Paul Weston is a licenced Real Estate Broker in Massachusetts
Follow me on Twitter: @PH_Weston
Website, including contact information: www.liveinmalden.com
