Watertown

Town Overview

Over the recent years, Watertown has become an appealing alternative to more expensive neighborhood such as Cambridge, Belmont, and Newton, offering the median price of $430k for single family homes. Only six miles northwest along the Charles River from the heart of Boston, its Watertown Square can be accessed by MBTA bus and trackless trolleys.

This scenic town features many shopping options, including historic Arsenal Mall, which is located near Arsenal Park with its waterfront recreational facilities. Watertown Free Library is one of the best libraries in Boston area. Watertown public schools receive an average rating of 6 out of 10 by greatschools.net.

Market Review

This year, single family market in Watertown has constantly been a seller's market. Right now the inventory is at 27 houses, ranging from $299,000 to $1,575,000. The median price is $485,000, and these houses have been waiting for a buyer for 85 days on average. Converted into months, the market is 4.15 months' supply, which means the market is on seller's market. The inventory almost went up to 6 month's supply in May after it went down to 1.5 months' supply in January. Now it seems to be balancing out.

It seems that sellers in Watertown are struggling to sell their houses above $500,000. The 13 houses have spent almost 100 days or more on market.

Let's see how the houses are selling in Watertown. There were 8 houses sold in the past month, ranging from $355,000 to $705,000. These houses sold on average in 46 days, which is a good sign. But they had to sacrifice 3% of their listing price, or 6% of the original listing price, to get that quick sale. But it's a trade-off well worth it. Median price for all the houses sold last month was $496,000.

What about condos in Watertown? There are 94 available currently, ranging from $169,900 to $1,395,000. The median price is $349,850. These condos have been waiting for average of 129 days to be sold. If you are going to sell a condo for more than $700,000, be ready for either an endurance race, or a major price cut-down. There are 6 such condos, and they have been waiting for 200, 300, and even 600+ days. If you are looking for a condo in $300,000 to $349,999 range, you will have the most variety to choose from (23 properties).

How are condos selling in Watertown? Past month, 15 condos were sold in 64 days. Median price was $345,000 and the condos ranged from $214,000 to $565,000.

If you would like to receive a monthly Watertown local housing data newsletter, visit www.move2Boston.com, click on the "Link to Raveis," then select "Subscribe to Housing Newsletter." At the same site, you can also generate a housing data report anytime you are interested. Call Susie at 617-332-3420 if you would like her to walk you through this feature.

If you are relocating to Boston area, call or email me to get a FREE relocation package. We are familiar with many communities in the Greater Boston, not limited to one or two areas. We specialize in Buyer Representation. You can be rest-assured that you have a seasoned real estate professional looking out for your interests in the entire buying process.

Tel: 617-332-3420

email: susie@move2boston.com