Malden Real Estate Update

Pending Home Sales

The Mass Association of Realtors announced on Tuesday that the # of pending home sales increased for the 13th straight month in a row for both single family homes and condos.

For single family homes, pending sales increased 32% over last year, and up 10% on a month to month basis.

For condos, pending sales increased 35.5% over last year, and up 18% on a month to month basis.

According to MAR, a sale is considered "pending" when the buyer and seller have agreed to the terms of the purchase and have signed a Purchase and Sale agreement, but have not closed and recorded the deal.

The complete article can be read here.

Mortgage Rates

According to the Wall Street Journal, average mortgage rates slightly increased for the week ending Thursday, June 16, 2012. The average 30 year mortgage rose from 3.67% to 3.71%, and the average 15 year mortgage rose from 2.94% to 2.98%. According to Freddie Mac Chief Economist Frank Nothaft, rates slightly increased because economic data released last week was mixed.

The complete article can read here.

 

Snapshop of the Malden Real Estate Market

Source: MLS Property Information Network: 

Single Family Condos Multi Family Homes # of Listings 49 44 28 Avg. Liv. Area Sq Ft 1,679.39 1,103.28 2,382.75 Avg. List $ $315,706 $219,151 $344,757 Avg. List $/Sq Ft $196 $206 $148 Avg. Days on Market 90.59 103.55

189.5