Adam Rosenbaum, a Realtor for Century 21 Adams, Arlington Heights, makes another prediction:
On July 10, he reported 21 new listings since Monday, July 6: seven singles, 11 condos, and three multifamily units.
Of those 21, he predicts that an even dozen will have signed contracts by Wednesday, July 15.
Check back here and see how he did.
Since Monday, June 15, I forecast that nine of the 14 new properties that have come to market would have signed contracts by now.
The actual figure is 10, so I was off by one.
And in other towns during the same time period …
20 of 24 are under contract in Cambridge
5 of 8 in Belmont
12 of 19 in Waltham
11 of 14 in Watertown
“The market remains very strong.
Since Monday, June 8, when I reported 25 new property listings in Arlington, 18 now have signed contracts. That represents a 72 percent absorption rate.
I predicted 15 of the 25.
Here are figures for other towns in the same time period:
29 of 41 in Cambridge = 70 percent
6 of 11 in Belmont = 54 percent
14 of 22 in Waltham = 63 percent
5 of 16 in Watertown = 31 percent
Arlington remains hot, hot, hot.
Weather is heating up, and so is the market. Twenty-five new properties in Arlington since Monday, June 8 — 10 single family, 13 condos and 3 multifamily units. Your humble prophet of property predicts that 15 of the 25 will have signed contracts by Wednesday, June 17.
For comparison purposes, here is what other towns have coming to market since June 8:
11 for Belmont
41 for Cambridge (34 condos)
22 for Waltham
16 for Watertown
In the week beginning on Monday, May 25, 24 new properties have come to market in Arlington. Since then, 21 have signed sales contracts. Rosenbaum predicted a much more modest 12.
Twenty-one of 24 represents an absorption rate of 84 percent in less than two weeks.
“That’s absolutely INSANE,” Rosenbaum wrote on his Facebook site.
On May 15, he reported that Arlington had 30 new listings. The breakdown is 20 singles, nine condos and one multifamily. Your fearless prophet of property predicts that 17 of 30 will have signed contracts by Wednesday, May 20.
For comparison, he reportes:
11 new listings in Belmont
16 new in Watertown
20 in Cambridge
28 in Somerville
On May 14, he reported that he had again picked the exact number of new properties that have gone under agreement since Monday, May 4. He had predicted that 11 of 18 properties would have signed contracts by today. “And I was right, on the proverbial nose. Maybe I’ll buy a couple of lottery tickets,” he wrote.
For a free market evaluation, contact Rosenbaum at 617-694-8553.
An earlier perspective
Grant Gibian, an Arlington Realtor who works for Coldwell Banker Residential Brokerage, looks at Arlington real-estate transactions for the first quarter this year as compared to those in the last quarter of 2014. His quick-and-clean summary: Demand remains high, supply very low — a seller’s market continues. This update based is on numbers from MLS.
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Real Estate Update Q1 2015 |
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Property
|
Quantity
|
Avg List Price
|
Avg Sale Price
|
| Single-family | 47 | $646,726 | $658,196 |
| 3br single-family | 22 | $594,800 | $604,032 |
| Condo | 39 | $462,115 | $473,596 |
| 2br condo |
19 | $401,516 | $412,706 |
| Two-family | 3 | $665,967 | $684,833 |
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Sale Prices Q1 2015 vs. Q4 2014
|
|||
|
Property
|
Q4 2014
|
Q1 2015
|
% diff
|
| Single-family | $641,158 | $658,196 | +3% |
| 3br single-family | $596,714 | $604,032 | +1% |
| Condo | $441,580 | $473,596 | +7% |
| 2br condo | $395,010 | $412,706 | +7% |
| Two-family | $712,429 | $684,833 | -4% |
The first quarter of 2015 in Arlington real estate continues a run that I can describe as “incredible.” That quarter provided some new record highs in average sale prices for all property types except two-families.
The slight dip in the two-family average sale price ended a streak of four consecutive quarters of increasing sale prices — every quarter in 2014 — for two-family properties.
Here are first-quarter highlights and some recent sales information for Arlington properties comparing the first quarter of 2015 to the fourth quarter of 2014:
• The three-bedroom, single-family average sale price is now at $604,000;
• The average sale price for all single-family properties is now at $658,000;
• The average sale price for all condos has risen 7 percent. The average sale price for two-bedroom condos has also risen 7 percent for the quarter;
• The sale price on two-families dipped and is now under $700,000: Is it a trend, or is it an anomaly? Only three were sold in Q1.
• The average sale price exceeded average list price for all property types.
This information, which includes the writers’ opinions, was published Friday, April 10, 2015. Watch for updates from other real estate professionals. The latest post was updated June 19.
