Health & Fitness
A Quick Snapshot of the Malden Real Estate Market
The average 15-year and 30-year fixed mortgage rate drops for the 6th consecutive week. In Malden, some improvement is seen.
The Wall Street Journal Reported that the average mortgage rate for both the 30-year and 15-year fixed rate mortgage declined for the 6th straight week. In addition, rates have continually fallen for over 1 year.
According to Freddie Mac Chief Economist Frank Nothaft, rates have declined because of the downwardly revised economic growth and job creation data.
The 30-year rate on average has declined to 3.67% on average, down from 3.75% last week and 4.49% a year ago. The 15-year fixed rate mortgage is now at on average at 2.94%. The 15 year rate stood at 2.97% last week and 3.68% last year.
Find out what's happening in Maldenwith free, real-time updates from Patch.
The Malden Real Estate market shows listings on average have been on the market over 90 days for single family homes and condos. Multi-family homes have an average of 191 days on the market. Many sellers are still marketing their properties for back up offers, given the uncertainty of buyers being able to obtain mortgages.
On a good note, the average list time for single family homes and condos have improved. In May of last year, the Average # Days on Market was 118 days and 108 days for singles and condos. Multis have seen a downturn. As of May 2011, the Average # of Days on Market was about 149 days.
Find out what's happening in Maldenwith free, real-time updates from Patch.
Source: MLS Property Information Network
Single Family Condos Multi Family Homes # of Listings 47 46 27 Avg. Liv. Area Sq Ft 1,736.91 1,095.39 2,322.52 Avg. List $ $320,623 $219,832 $349,277 Avg. List $/Sq Ft $194 $209 $153 Avg. Days on Market 98.66 97.19191.41
