Malden Real Estate Updates
MAR releases 2012 Results:
The Mass Association of Realtors released on Janaury 24th year end results for the Massachusetts Housing market. MAR noted that 2012 saw the most units sold for both single family homes and condos since 2007. In addition, buyer demand has increased, as shown by the decrease in the Days on Market and the level of Ave. Monthly Inventory and Ave. Monthly Supply:
| Units sold in 2012 | Units sold in 2011 | Percent Change | Units Sold in 2007 | |
| Single Family House | 46,312 | 38,146 | +21% | 51,078 |
| Condos | 18,045 | 14,758 | +22% | 20,531 |
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Median Home Price 2012 | Median Home Price 2011 | Percent Change |
| Single Family | $298,000 | $295,000 | +1.0% |
| Condos | $282,000 | $270,000 | +4.0% |
| Ave. Days on Market 2012 | Ave. Days on Market 2011 | Ave. Monthly Inventory 2012 | Ave. Monthly Inventory 2011 | Ave. Monthly Supply(In Months) 2012 | Ave. Monthly Supply(In Months) 2011 | |
| Single Family | 111 | 114 | 27,093 | 31,457 | 7.7 | 9.7 |
| Condos | 103 | 114 | 8,723 | 11,296 | 6.5 | 8.9 |
Mortgage Rates
According to the Freddie Mac survey, average mortgage rates increased for the week ending Thursday, January 24, 2013. The average 30 year mortgage increased from 3.38% to 3.42 and the average 15 year mortgage increased from 2.66% to 2.71.
Mortgage rates one year ago were 3.98% and 3.24% for the 30-year and 15-year fixed mortgages.
Snapshot of the Malden Real Estate Market
Source: MLS Property Information Network
| Single Family | Condos | Multi Family | |
| # of Listings: | 39 | 31 | 18 |
| Avg. Liv.Area SqFt: | 1,604.64 | 1,066.13 | 2,897.11 |
| Avg. List$: | $299,812 | $204,096 | $419,956 |
| Avg. List$/SqFt: | $205 | $206 | $149 |
| Avg. Days on Market: | 77.28 | 106.39 | 270.33 |
Paul Weston is a licenced Real Estate Broker in Massachusetts
Follow me on Twitter: @PH_Weston
Website, including contact information: www.liveinmalden.com
