Malden Real Estate Market Updates

Here is the latest Real Estate Market updates, including a West End home owner stripping off the siding of their home, and restoring the detaling of the building.

Taking Malden in a new Direction

A litter over 2 years ago, I wrote in my first blog the story of the owner of 15 Cedar Street who decided to put vinyl siding on his historic home and then went about taking a hammer and chisel to chip away at the historic detailing.

Well, a possible reverse trend has started in Malden: stripping off the vinyl siding and restoring the detailing of the house. Those driving down Clifton Street between Summer and Glen Streets know what I am talking about.

The owners of 193 Clifton Street, a building once owned by St. Paul's Parish, made the bold move to strip off the pale green siding and restore original wood siding underneath. They have finished with the restoration and now starting to paint the outside.

Hopefully, this is a positive sign of things to come in Malden.


Mortgage Rates

According to the Freddie Mac survey, average mortgage rates decreased for the week ending Thursday, October 18, 2012. The average 30 year mortgage declined from 3.39% to 3.37% and the average 15 year mortgage decreased from 2.70% to 2.66%.

Mortgage rates one year ago were 4.11% and 3.38% 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: 51 38 30 Avg. Liv.Area SqFt: 1,694.59 1,122.16 2,458.23  Avg. List$: $312,258 $218,171 $391,143  Avg. List$/SqFt: $197 $213 $161 Avg. Days on Market: 80.14 66.55 157.03


Follow me on Twitter at @PH_Weston

Website: www.liveinmalden.com



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