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Real Estate Market Updates

Here is the latest real estate news, including January pending home sales.

Pending Sales Up Again

The Massachusetts Association of Realtors announced that pending home sales were up in January, showing a continued positive outlook in the real estate market for single family homes and condos.

MAR President Kimberly Allard-Moccia, broker-owner of Century 21 Professionals in Braintree said “The spring home buying season came early for many buyers in January as the numbers showed they made offers and took advantage of market conditions instead of waiting.  Late 2012 pending sales reports indicated that the closings for the first months of 2013 would most likely be up, but today’s report gives us reason to believe the same will be true about the early spring."

MAR reported the following results:

Pending Sales Jan 2013 Pending Sales Jan 2012 Percent Change Pending Sales December 2012 Percent Change from Previous Month Single Family 3,076 2,599 +18.4% 3.062 0% Condos 1,216 994 +22.3% 1,076 +13%

To read the entire article, click here.

Mortgage Rates

According to the Freddie Mac survey, average mortgage rates remained unchanged for the week ending Thursday, February 14, 2013. The average 30 year mortgage remained unchanged at 3.53% and the average 15 year mortgage remained unchanged at 2.77%.

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: 38 29 16 Avg. Liv.Area SqFt: 1,502.97 1,117.66 2,603.75 Avg. List$: $301,218 $215,314 $398,081 Avg. List$/SqFt: $214 $202 $157 Avg. Days on Market: 83.79 103.31 236.5

 

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.

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