The Madden Team analyzes the Watertown real estate market, and here is their latest monthly report:
Compared to last month’s statistics, we are seeing a slight decrease in our inventory which should only continue to fuel our currently “hot” market well into the Fall. The biggest decrease was in new inventory to the market which had 16 during the week of July 5th – July 11th but only saw 3 new entries to the market last week. In good news, our solds for Watertown increased by 2 compared to that week last month holding strong in the double digits.
Currently there is a bit of inventory to choose from with 11 single families, 20 condominiums and 6 multi-families on the market. However, in looking back, we had more inventory during the week we researched last month except in the Single Family market where there was a slight increase from 9 to 11 homes available. Both condominiums and multi-families had a slight decrease in available inventory, down 8 condos and 5 multi-families. This continues the trend that it is the right time to be a seller as the inventory remains low.
The Watertown MA single family real estate market is holding strong year-to-date compared to last year. In fact, we’ve sold the exact same number of homes through August 24, 2015 as compared to last year. The big difference, however, is that we have seen $48,000 in appreciation compared to last year. With 7.08 single family selling every month in Watertown and only 11 available properties, we have less than 2 months of inventory available for interested buyers (1.55 to be exact). This still signals a sellers’ market, however with the interest rates remaining low it allows buyers to have better affordability with their money.
Any questions about the market or to receive a free market analysis on your home, please feel free to email us at info@themaddenteam.com or call us direct at 617-744-9195.
See more statistics and details by visiting the Madden Team’s blog – click here.