So, while people track the Case-Shiller index, (which include new home starts and national sales) they miss the boat – buyers and sellers. Side note: national sales is silly because it’s not local. New home starts is crazy because in New England, specifically Newton, Brookline, Waltham, Watertown, Arlington, Winchester and all surrounding towns, we really do not have available buildable land, there are relatively no new developments.

What is Case-Shiller worth? Nothing! Nothing as it relates to local home values. It’s really better used to understand workforce production and future employment in the housing industry. Why does the index owe you money? If you’re planning to buy: In many Boston area markets, the tides have turned and we are now in a seller’s market … sorry you missed the bottom (although national news states that we might see it sometime this year). Bidding wars on good properties may be causing you to pay a premium. If you’re a seller: You may have missed a tremendous spring market. Now that people are starting to see the strength of the market more properties are being listed – this creates more competition and downward/ stable pressure on pricing.

Real estate is local … call me if you’d like a local analysis and clear understanding of what is happening with the value of your home or neighborhood. I’m always happy to help (and thanks for listening to my rant).

Below are the sales statistics for the Greater Boston Area for the past three months. (Please note this information is based on a three month rolling average/ quarter compiled from single family and condominium sales.)

Below are the updated sales statistics for Newton and many surrounding towns. Please note, these figures include sales for both single family and condominiums sales in each listed town. The information is based on a 3 month rolling quarter – in this case, we are looking at Q1 of 2012. As you know, real estate is local, so please don’t hesitate to email or call if you have any questions about a specific property or neighborhood – I’d be happy to send you a more specific report.

So, what’s happening in the market? Well, that is a loaded question and it depends on if you are planning to buy or sell.  Boston proper continues to be strong with mixed results in the suburbs.  Despite the general news media, most markets within the route 95 corridor are considered neutral to seller markets.  We are again seeing multiple offer situations on properties that are properly priced and in good condition.  Overpriced properties are seeing the greatest general decline in value as buyers quickly identify them as unmotivated sellers and wait for later opportunities (I.e. time to pass) at which point the sellers become more motivated and willing to accept less.

Gracious Queen Anne Victorian with classical influence and original woodwork intact plus much more period detail. Inviting hardwoods throughout & elegant fireplaces connect the past with the present. The proper dining room adjoins a modern kitchen (Southbend range, Subzero frig.) via butler’s pantry. Front stairway leads to a grand hall and is lit by original stained glass. Unfinished basement boast high ceilings with expansion potential. Private outdoor patio and yard provide single family feel!

Call Mike Hughes today!

With about 24 other people between 6 and 9AM Mike reports that he was able to raise about $2000 in donations. He noted that although he had been a supporter of the CMN (Children’s Miracle Network), seeing the kids and hearing their stories firsthand “impressed me with the enormous need”. As a father Mike was struck, as any father would be, by the stories he heard. “They could be about my child –
or yours”. He overheard one of the other workers tell a caller to think of the donation as paying into a savings account that needs to be constantly funded to provide care for children in need of critical medical attention.

Mike also reported that the mood was extremely positive and at the same time empathetic and energetic. The DJs interacted with the volunteers and the staff continuously dropped in to share stories and appreciation.

“For many years RE/MAX Leading Edge has been involved with the Children’s Miracle Network and it is so exciting to see other organizations step in to help this outstanding resource we have in Boston for sick children”, commented Mike.

** BLUE RIBBON Townhouse with 3 levels plus and exclusive basement.  ** Steps from the Charles River bike / jog path ** Complete newer renovation baths & kitchen with stylish cabinets accented with granite counters nice appliances ** Mudroom & private deck ** Pleasant walk to Watertown Square, shops, banks, pharmacy and library ** “T” Bus terminal, Harvard Square trolley ** Feels like single family! ** Easy access to Storrow Drive and Memorial Drive – minutes to the Mass Pike!  Plenty of parking & pets allowed ** ALL YOU HAVE TO DO IS MOVE IN!

With low interest rates and prices off historic highs, buyers should move quickly – before they realize that the ball is not entirely in their court.  (53 new properties were listed yesterday in the Newton, Waltham, Watertown, Arlington and Winchester communities … inventory levels may shift slightly, but with an average 2 month supply of homes, there is a long way to go before we reach levels that typically favor a buyer.)

Please call or email me with any questions about this data or data specific to your neighborhood.

The above information is based on the averages for single family and condominium sales during the past three months.  Data was taked from the Multiple Listing Service Property Information Network (MLSPIN) for Massachusetts.

At a quick glance, it would appear that the Greater Boston real estate market is down … and it is down compared the same time last year.  However, those who I’ve had the opportunity to personally talk with know that I like to use 2006 as the benchmark for the “best year ever.”  So, compared to 2006, we are only down about 6.5% … Boston proper is UP a whopping 20% and Middlesex and Norfolk counties are collectively down about 10%.

The interesting thing is that some towns are still hitting it out of the park (I.e. Brookline, Lexington, Needham, Weston) while most are simply chugging along at a normal pace.  Also, interest rates continue to remain at record lows and inventories are extremely low (“seller market” levels) with the typical absorption rate slightly less than 2 months.

Buyers are itching for fresh inventory, so if you are planning to sell, now is the time to start your planning.  Call me today for a custom analysis of your home and neighborhood.  (It’s important to note, homes must be in showroom condition to command top dollar.  Although inventories remain low, buyers still perceive the market as a buyers market – in this case, perception creates reality.)

* All data is taken from the MA Multiple Listing Service (Property Information Network).  Data is compiled based on a rolling 3-month period review of condominiums and single family properties.

As always, these numbers are merely averages (for single and condominium sales), so call or email me if you would like information specific to your neighborhood or home.  I look forward to being of service.

All the best for you this holiday season and throughout 2012!

Real estate is extremely local in Newton, MA.  As you can see below, each village provides a very different price range.  Please feel free to call or email me if you would like to drill down deeper to determine the potential market value of your home – and how to maximize it in today’s market.  I always welcome questions and feedback.

Keep an eye out for more information on each Village.  Over the coming months, I will be more clearly defining each village and providing market trend information.  (To my knowledge, because of the way that our MLS is designed, this information is not available on any other website.)

I hope you have been enjoying the beautiful weather that we’ve been having!  With Thanksgiving just a few days away, we are quickly approaching the new year!  Please let me know if you have any questions about the below information.  As always, the data represents single family and condominium statistics for each town using a “rolling quarter.” (Period ending 11/8/2011) Although these trends are useful, please feel free to call or email me if you have specific questions about your neighborhood.  (A home analysis is much more specific and will typically only include similar properties to the subject property.)

Data provided by MA Multiple Listing Service Property Information System (MLSPIN)