Malden Ma September 2015 Multi Family Top Overbids

    Vuong Report

    October 19, 2015

    The Massachusetts Association of REALTORS® (MAR) reported today that the traditional “back-to-school” season didn’t slow buyer activity in September as pending home sales went up over 35 percent from the same month last year. Stock market volatility and unsteady overseas economies did not scare off house hunters, but we don’t know what the future holds. SO WHAT IS THE OUTLOOK FOR OCTOBER? “It all comes down to supply and demand,” said RealtyTrac vice president Daren Blomquist. The fall is a time with low demand because the market is less busy than in the spring and summer, but there’s often a carryover in supply from the summer months. People who were trying to sell in the summer and weren’t successful are more motivated and might drop their price. Since there are fewer buyers competing for those homes, they have an advantage and can often bargain for a good deal. LET ME EXPLAIN THIS TO YOU smile PATRIOTS FOOTBALL IS IN FULL EFFECT IN NEW ENGLAND, BUYERS ARE BUSY WATCHING THE GAME AND I CAN’T BLAME THEM! LET’S GO PATS!!

    pats

    The sales of multi family homes in Malden are going strong, and prices moderating. Let’s look at some numbers and break it down:

    1. Closed sales of multi family homes in Malden Massachusetts increased +142.9% year over year as of September. This is significantly higher than the overall Massachusetts multifamily housing activity report for September 2015.
    2. Median sales price of multi family homes in Malden Massachusetts increased +1.9% year over year as of September. This is lower than the overall Massachusetts multifamily housing activity report for September 2015.
    3. The number of days on market for multi family homes in Malden Massachusetts increased +44.7% year over year as of September to 44 days. This is lower than the overall Massachusetts multifamily housing activity report for September 2015 which stands at 53 days. A difference of 9 days or 17%.
    4. The inventory of multi family homes in Malden Massachusetts is down -11.5% year over year as of September. This reduction in inventory is closely aligned with the overall Massachusetts multifamily housing activity report for September 2015 which is down -15.5%. There seems to be an inverse relationship here however this is quite favorable to buyers as more inventory hits the market.

    Malden multi family Housing Report September 2015

    Here are the top 5 Malden multi family over bid stats for homes that were sold in September, 2 out of 5 were in the Oak Grove area, 2 around Edgeworth , 1 in Maplewood:

    # 5 - Address: 11-13 Julia | List:$529,900 | Sold:$546,000 | Bedrooms/Baths: 5/2 | Overbid: 3.04% or $16,100

    # 4 - Address: 10 GROVE STREET | List:$499,900 | Sold:$533,000 | Bedrooms/Baths: 3/3 | Overbid: 6.62% or $33,100

    # 3 - Address: 161 Webster | List:$469,000 | Sold:$502,000 | Bedrooms/Baths: 4/2 | Overbid: 7.04% or $33,000

    # 2 - Address: 46 Hubbard St | List:$499,000 | Sold:$540,000 | Bedrooms/Baths: 5/2 | Overbid: 8.22% or $41,000

    # 1 - Address: 18 Bartlett St | List:$669,000 | Sold:$740,000 | Bedrooms/Baths: 6/2 | Overbid: 10.61% or $71,000

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    For more information, please contact Peter Vuong.

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