.

Malden Real Estate Updates

Here are the latest on the Housing market in Malden, as well as a summary of 2012 activity statewide.

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

 

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

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.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something