All Real Estate is Local - Just Look at the Numbers!

It is easy to get and stay confused when listening to reports on TV and other media about what is happening. But the old adage that "All Real Estate is Local" has never been truer.

The foreclosure crisis is easing.
But, did we have a foreclosure crisis in Waltham?

My home's value is too low.
Have you had a pricing analysis done recently?

There is not enough inventory (homes available for sale).
Can you find a home to buy in Waltham?

What is the real story. Are we in crisis? Can we find homes? Have values stagnated, or increased? Let's take a look. The chart above compares home sales in Waltham for the same time period (from the beginning of the year until today) for three years, from 2011 to 2013.

What is obvious is that it is now taking less time to sell a home (51 days on market vs. 95) than it used to, and the median value of a home has increased almost 15% over what it was just 2 years ago.

This is great news! While the entire country suffered through the worst real estate market in decades, Waltham weathered this crisis better than many communities. And the good news continues as we can see from the numbers.

Annette and Fred Reynolds are local Century 21 Commonwealth agents who live in Lakeview and work throughout eastern Massachusetts. Feel free to contact them to answer any of your real estate questions. tel: 617 306 2906