You know the real estate market has been off the charts lately. So to bring some clarity to what this means on a more granular level, we have assembled the Home Advantage Team (HAT) Condo Report.
To view a larger version of the HAT Condo Report, CLICK HERE.
Condo owners and prospective condo buyers interested in what recent low interest rates and rising home prices mean for their market will should take a look at this information.
Find out what's happening in Arlingtonwith free, real-time updates from Patch.
Here are our top facts about the Arlington condo market, which summarizes the full report below.
- To date, condo sales have increased 13% since the same time last year.
- To date, the average Per Square Foot (PSF) selling price has increased from $287 to $310.
- To date, the average days on market (DOM) are almost half of what they were in 2012. In 2012 the average DOM was 73 - in 2013 it’s 37.
If the statistic depicting lower sales prices in 2013 than 2012 seems contradictory to current trends, you’re right. The reason is because the size of the average condo is lower, resulting in a higher PSF, causing the average condo value to have actually increased since 2012.
Find out what's happening in Arlingtonwith free, real-time updates from Patch.
If you would like additional information regarding the details of this report, or to understand what it means for you, contact me for a free and confidential Custom Market Analysis (CMA).
Phone: 781.645.0505
Email: steve@yourhomeforsale.com
www.yourhomeforsale.com
(*A single-family home HAT Report is coming up next!)
To view a larger version of the HAT Condo Report, CLICK HERE.