Real Estate Report: Homes Selling in Watertown, but Listings are Down


Madden Logo new

Lucky 8′s! With eight new listings, eight listings with accepted offers and 8 sold listings all last week – it seems as though that was the number of the week. However, compared to last month around this time, we are way down in terms of new listings coming onto the market, according to The Madden Team’s Watertown Real Estate Market Report.

Last month at this time, we had 19 new listings, so we have cut our new inventory by nearly 50 percent. The good news, especially for sellers, is that the number of properties that accepted offers has remained relatively consistent (nine last month vs. eight this month). This shows that buyers are still purchasing homes at roughly the same rate. The number of new sold listings (meaning that they have passed papers and exchanged keys) is also remaining consistent. Sellers are still in a great position to list their home and obtain top dollar as the buyers are still out there trying to purchase a great home.

Our current inventory is way down across the board compared to last month. Every market sector has seen a dip, with some being large decreases. Single family active inventory went from 15 last month all the way down to six this month. Multi-family homes dipped from eight last month to six this month. Condominiums also had a large drop from 35 active listings last month to only 24 active listings this month. Overall the inventory is down 38 percent from last month. In fact, there is only 0.86 months of inventory available based on the Market Absorption analysis. With this decrease in inventory, the real estate market is still trending as a seller’s market as we enter into the holiday season.

Strong value and sales ratios are holding in the Watertown Single Family market. While we are seeing a decrease in inventory, it seems (including personal knowledge through our activity) that the buyers are still out there and placing offers on properly priced and marketed homes.

The average sales price year-to-date compared to same period from 2014, shows we are $8,000+ in appreciation. Homes are selling at an average of 101 percent of the original listing price to the sales price. This means that Watertown homes, for the most part, are being priced appropriately within the market and receiving multiple offers.

It is amazing the vast styles and sizes of homes that are available in Watertown ranging from a 1,650 square foot single family to a 4,881 square foot single family homes with prices ranging from $372,900 to $1,225,000.

See more about the Watertown Real Estate Market Report and about The Madden Team here.

Leave a Reply

Your email address will not be published. Required fields are marked *