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Arlington
Town Overview
Six miles northwest of Boston, this historical town is bordered by Winchester, Medford, Somerville, Cambridge, Belmont and also historical Lexington. 75% of the population travel by car to work. On the southern boundary of Arlington is the seldom-congested freeway Route 2A, which can take you to southeast to Cambridge and westward to Highway 95. The closest point in Arlington to Highway 93 is about 4 minutes.
Many Arlingtonites, along with many other activities, enjoy their time off taking a walk along the river on Mystic Valley Parkway or riding their bikes on a Minuteman bike trail, an 11-mile trail dedicated to bikers connecting Alewife Station to Bedford; it runs through Bedford, Lexington, Arlington, and Cambridge.
Arlington has seven elementary schools, one middle school, and one high school. Arlington High School is rated 10 out 10 by greatschools.net and 4 out of 5 stars by parents on greatschools.net.
Market
How do you find out if it is a balanced market in Arlington? Look at the inventory level of the single family houses market. The current inventory level is fairly low. There are 48 houses in market right now. Converted in months, the inventory is at 2 months’ supply. This is on a low side compared to the average from last year and a half. Usually, 6-month inventory is considered a balanced market. Therefore, right now the market is very much on the seller side, meaning houses are likely to sell quicker.
What's available in Arlington now, in terms of single-family houses? The median price for single family homes on the Arlington market right now is $589,000. The highest priced home is $1,350k and the lowest price is $277,774. The price range for most widely available houses is from $500,000 to $799,999. Last month there were 6 houses in the price range of $450,000 to $499,999, with only an average of 27 days on market, but this month there is only 1 such property with 26 days on market. Looks like this is the hottest segment of the single-family house market in Arlington right now.
Let's now look at sales price. How are the houses selling in Arlington? Last month 31 houses were sold in only after an average of 45 days. Median price for single-family houses was $545,000. Arlington sellers are selling their houses for a healthy 99% of the list price, or 98% of the original price. In the past month, the houses that sold the most are in the 700k’s. They sold only in 23 days on average. Another price range that sold well are the 4 houses in $400,000 to $7499,999. They sold only after 9 days in average! So with some exceptions, the houses in mid-range, $400,000 to $899,999, are selling really quickly.
Let’s look at Arlington real estate market altogether, with condos and multi-unit houses combined also. There are 133 properties at the median price of $399,900 and the lowest priced property is $139,900. You can find 25 properties priced within $300,000 to $349,999 range.
If you would like to receive a monthly Arlington local housing data newsletter, visit www.move2Boston.com, click on the "Link to Raveis," then select "Subscribe to Housing Newsletter." You can also generate a housing data report anytime you are interested to know at the same site. 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 sure 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
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