Tory Keith Real Estate

More information and property searches:
www.torykeithrealestate.com

Andrew Mitchell & Co
33 Bradford St
Concord MA 01742

508-318-8659
tory@torykeithrealestate.com
Showing posts with label metrowest. Show all posts
Showing posts with label metrowest. Show all posts

Tuesday, January 7, 2014


Price Per Foot By Town: 2013

2013 Average sale prices per square foot for Metrowest and surrounding towns:

Marlborough $166
Medway $179
Ashland $189
Millis $193
Framingham $195
Holliston $198
Hopkinton $204
Southborough $212
Walpole $214
Sudbury $233
Sherborn $238
Norwood $244
Medfield $251
Natick $256
Waltham $258
Wayland $268
Dover $272
Westwood $306
Lincoln $324
Needham $331
Lexington $352
Weston $362
Newton $372
Wellesley $401




Thursday, December 8, 2011

Multi-Family Properties in Natick, Wellesley, and Newton

With sale prices and mortgage rates at a low and rents on the increase, more and more people are buying rental properties. While it can be difficult for a new investor to get financing on a property that is not a primary residence, cash buyers, owner-occupants, and those with a history of rental income or sufficient income to qualify for more than one mortgage if necessary, can do very well both in the short term and long term with multi-family homes. Rental income can provide immediate cash flow, while buying at the bottom of the market, particularly a property that has room for improvement, can generate a profit when sold years later.

In Natick, Wellesley, and Newton, the average sale price of a multi-family property increased 8% from an average of $528,000 in 2010 to $571,000 in 2011 (not accounting for sales that could take place during the 23 days left of the year). Still, there are good deals out there, particularly for anyone with the resources to handle a fixer-upper. 36 multi-families are currently on the market in these towns, from 2-family homes to mixed use buildings.

The following is a great calculator to determine return on investment, taking several factors into account: http://www.goodmortgage.com/Calculators/Investment_Property.html

For more information, please find my contact information as well as search for properties at www.torykeithrealestate.com.




Monday, October 24, 2011

Recent Metrowest home sales: October 2011

Lots of people have mentioned how interested they are in seeing recent sales, so I'll focus on that a bit more than my regular market updates. If you're interested in any other information or sales for other towns in the area, please email me and I'll get you what you need. Of course, you can always do your own searches here (or if you're on a smart phone, here).

Single family home sales in the last week for a few Metrowest cities and towns (10/17/11-10/24/11) - prices shown are sale prices:

Natick
17 Belmore Rd (3 bed Cape): $335,000
12 Oak Knoll (3 bed Ranch): $336,800

Wellesley
22 Elm St (3 bed Colonial): $825,000
40 Whittier Rd (4 bed Colonial): $842,000
50 Woodlawn Ave (4 bed): $1,000,000
56 Temple Rd (4 bed Multi-Level): $1,100,000
81 Maugus Ave (4 bed Contemporary): $1,500,000
37 Garrison Rd (6 bed Colonial): $1,690,000

Newton
6 Philbrick Rd (3 bed Colonial): $504,000
12 Roosevelt Rd (3 bed Colonial): $526,000
106 Brookline St (3 bed Cape): $542,000
23 Hemlock Rd (3 bed Cape): $537,000
23 Marcellus Dr (3 bed Colonial): $725,000
186 Lincoln St (3 bed Colonial): $923,000
76 Cotton St (5 bed Colonial): $1,337,000

Needham
14 Hazel Ln (4 bed Split): $507,500
672 Chestnut St (5 bed Colonial): $2,040,000

Wayland
19 Oak/Timber (4 bed Cape): $374,000




Thursday, September 22, 2011

Metrowest September 2011 Market Update - Natick, Wellesley, and Newton

The fall housing market is well underway! Here are the key facts, with comparisons from last month, for Natick, Wellesley, and Newton:

In Natick, there are currently 85 single family homes on the market for an average list price of $599,000. 26 homes have sold in Natick in the past month for an average of $488,500 (up 7% from last month) after 69 days on the market (faster than an average of 95 days last month).

In Wellesley, there are currently 146 single family homes on the market for an average list price of $1,751,000. 16 homes have sold in Wellesley in the past month for an average of $1,170,000 (down 14% from last month) after 99 days on the market (faster than an average of 126 days last month).

In Newton, there are currently 193 single family homes on the market for an average list price of $1,188,000. 52 homes have sold in Newton in the past month for an average of $893,000 (down 2% from last month) after 80 days on the market (slower than an average of 70 days last month).

Sunday, June 26, 2011

Home Improvements When Selling: Most Bang for Your Buck

To gain an edge in the current real estate market, many homeowners are choosing to improve some aspects of their home. Often, this money can be well spent and will attract buyers who are willing to pay more for the home. In other cases, improvements are too personal or too costly to make much of a difference. Addressing major problems or very dated cosmetic aspects of a home will almost always bring a good return, while building an addition or upgrading things that don't necessarily need fixing could be a waste of money.

Based on Remodeling Magazine's '09-'10 Cost vs Value report, the top five projects for return on investment in New England are:

1. Front door replacement
2. Siding replacement
3. Deck addition
4. Attic bedroom
5. Window replacement

Kitchen remodels were next on the list, and when considering taking on this kind of project, as with others, it is important to compare your home to similar homes in order to create an appealing space without "over-improving". For anyone planning on staying in their homes, they will want to remodel with both themselves and potential buyers in mind, making changes that they will be able to enjoy while they remain in the home, but that aren't overly personal.

Sunday, June 19, 2011

Metrowest Market Snapshot 6/19/11

In Natick, there are currently 77 active single family homes on the market for an average list price of $621,000, having been on the market for an average of 110 days.
There are 62 homes under agreement, with an average list price of $529,000. These homes were on the market for an average of 65 days.
In the past month, 27 homes sold for an average of $430,000 (list prices averaging $442,000), after 73 days on the market.

In Wellesley, there are currently 138 active single family homes on the market for an average list price of $1,677,000, having been on the market for an average of 133 days.
There are 37 homes under agreement, with an average list price of $1,404,000. These homes were on the market for an average of 150 days.
In the past month, 40 homes sold for an average of $1,145,000 (list prices averaging $1,210,000), after 88 days on the market.

In Newton, there are currently 217 active single family homes on the market for an average list price of $1,282,000, having been on the market for an average of 101 days.
There are 123 homes under agreement, with an average list price of $975,000. These homes were on the market for an average of 63 days.
In the past month, 63 homes sold for an average of $905,000 (list prices averaging $929,000), after 68 days on the market.