The SMART people were out buying homes in Arlington in 2009! All year the media was doom and gloom, so it was almost embarrassing to be telling people “we are having a GREAT YEAR in Arlington real estate.” By the end of ‘09 the total number of sales in Arlington was 496, compared to 482 in 2008.  And the average sale price of a single family home had stayed essentially THE SAME.

First Time Home Buyers did especially well with the Stimulus Tax Credit of $8,000.  They were able to lock in interest rates at historic lows (below 5%), and sellers were motivated to sell, partly due to all the uncertainty, and fear prices would be dropping further.  The numbers show clearly that the market has stabilized for now in Arlington.

Want to know the cheapest and most expensive homes of 2009?

2009 Single Family homes (246 sales), the least expensive home: $252,000 (69 Sunnyside) with 74 days on market. The MOST expensive single family home sold in Arlington sold for $1,009,597. (2-A Colonial Drive). New Construction. Average Sale Price for Single Family Homes was $510,000.

2009 Condos (246 sales), the least expensive one sold for $102,000 (11 Old Colony Lane U3). The most expensive condo was 57 Winter Street, and sold for $678,000, also new construction. Average Sale Price for Condos was $350,000.

2009 Multi Families (37 sales), the least expensive one was 106 Paul Revere Road, a two unit (one bedroom each) house, selling for $295K. The most expensive multi family to sell in Arlington was 11-13 Pierce Street, selling for $700,000. Average Sale Price for Multi Family Homes was $519,000.

Sales accelerated in the last two months of the year, which was amazing! In 2008 November and December combined had 46 sales – typical for that time of year. This year there were 94 sales in the same time period. Spectacular numbers, for anyone counting!

See Recent Home Sales in Arlington MA here.

So what’s up with Arlington Real Estate in 2010?? With mortgage rates that are still historically low, homes priced affordably, and the home buyer tax credit, we should see another great year of activity and great deals for home buyers. According to projections from the Mortgage Bankers Association (MBA), sales of existing homes are expected to increase by more than 10% next year. In addition, median home prices will move a little higher. Forecasts from the National Association of Realtors (NAR) and from Fannie Mae are generally consistent with the outlook from the MBA.

If YOU have been considering “getting out of renting” then hopefully those pioneers of 2009 who have blazed the trail have shown it is a great time to buy real estate. Learn more about it at a First Time Home Buyer Seminar, or contact me directly to discuss your goals and questions. In the mean time, start dreaming up the details of your Dream Home!