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Malden Real Estate Updates

Here is the latest real estate updates from Malden, along with an update from the Mass Association of Realtors.

Survey Says…

According the latest poll of realtors statewide, the Mass Association of Realtors announced that the latest REALTOR® Market Confidence Index (RMCI) showed that REALTOR®-members showed continued confidence for December 2012 and throughout the entire last year as well. The Index hit an all-time high for December 2012.

MAR President Kimberly Allard-Moccia, broker-owner of Century21 Professionals in Braintree stated “REALTOR®-members positive attitude about the real estate market and home prices consistently increased over the course of 2012. Many challenges occurred that had the potential to knock one’s confidence, but the high index is a testament to our members and their clients who continued to believe in the real estate market and its ongoing recovery.”

The latest REALTOR® survey also indicated that more than half of the buyers in the market prefer a home heated by natural gas over oil. The survey indicated that 53% of buyers strongly preferred a home with natural gas heating, while 33% indicated where more concerned about finding the right home. Only 3% indicated that they were only interested in a home heated by natural gas, while 2% of buyers indicated a preference of oil heat over natural gas.


In regards to sellers, REALTOR®-members responded that 70% of their clients would not make any specific changes or provide money back to the buyer to convert an oil heating system over to natural gas. Around 10% of REALTOR®-members responded that their sellers would consider making the change over from oil to gas and 2% responded that their clients have already made the conversion from oil heat to gas heat.

The entire article can be read here.

Mortgage Rates

According to the Freddie Mac survey, average mortgage rates had mixed results for the week ending Thursday, January 17, 2013. The average 30 year mortgage decreased from 3.40% to 3.40 and the average 15 year mortgage was unchanged at 2.66%.

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: 37 33 16 Avg. Liv.Area SqFt: 1,695.22 1,049.39 2,858.06 Avg. List$: $298,903 $203,815 $412,094 Avg. List$/SqFt: $192 $209 $149 Avg. Days on Market: 83.84 93.61 296.94

 

Paul Weston is Broker/Owner of Paul Weston Real Estate, a full service Real Estate Office serving Malden and the Greater Boston area.

Follow me on Twitter: @PH_Weston

Website, including contact information: www.liveinmalden.com

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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