Health & Fitness
Real Estate Market Updates
Here is the latest on Pending Home Sales, record low interest rates and the latest snapshot of the Malden market.
Pending Homes Sales Increase for 14th Consecutive Month:
The Massachusetts Association of Realtors (MAR) announced that for the fourteenth straight month, pending home sales increased as compared to the same month in 2011 for single family homes. In addition, over 5,000 homes were put under agreement for the second straight month. For condos, those numbers were up from the same time last year for the 14th straight month as well.
Trisha McCarthy, MAR President and Broker at Keller Williams Realty in Newburyport stated that “With an early start to the spring market because of the unseasonable winter; it was uncertain whether the momentum would continue into the summer. The June pending sales numbers are a good indication that new buyers are continuing to enter the market and making offers on homes.”
The number of single family homes going under agreement went from 4,085 in June 2011 to 5,273 in June 2012, an increase of 29.1%. The number of condos going under agreement went from 1,572 in June 2011 to 2,029 in June 2012, an increase of 29.1%.
Find out what's happening in Maldenwith free, real-time updates from Patch.
On a month to month basis from May 2012 to June 2012, the number of pending sales for single family homes decreased from 5,267, or .01%. The number of pending sales of condos for the same period decreased from 2,216, or 8.4%.
The entire article can be read here.
Find out what's happening in Maldenwith free, real-time updates from Patch.
Mortgage Rates:
According to the Freddie Mac Interest Rate survey, average mortgage rates declined again for the week ending Thursday, July 12, 2012, setting an all time low. The average 30 year mortgage decreased from 3.62% to 3.56%, and the average 15 year mortgage declined from 2.89% to 2.86%. Mortgage rates one year ago were 4.51% and 3.65 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 Homes
# of Listings
54
43
26
Avg. Liv. Area Sq Ft
1,594.26
1,107.90
2,486.12
Avg. List $
$308,247
$223,880
$355,569
Avg. List $/Sq Ft
$199
$212
$145
Avg. Days on Market
93.15
72.26
206.31
Follow me on Twitter at @PH_Weston
