Middleton Condos
Middleton is a town with about 10,000 people in Essex County, MA. It was incorporated in 1728 and was joined with Salem before it separated and became its own town. Middleton was an important iron and general manufacturing town in the 18th century. Later, it became a popular vacation destination. Today, the town's natural beauty, which includes parks, ponds, and rivers, makes it a top place in the Greater Boston area to live. It is also located less than 20 miles from Boston, which adds to its appeal as a convenient place to live. Interstate 95 passes along the town's western border, and Route 114 also services the area. Two branches of the MBTA commuter rail connect the town to Boston and nearby cities.
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As the town's popularity continues to grow, so does demand for housing. Both prospective homeowners and investors are keeping an eye on this town in particular, which is one of the fastest growing communities along the North Shore. In response to increasing demand to live here, the value for homes is rising, too. In April 2018, the average price for a home in town is $562,900. The average price specifically for a townhouse is $465,513. The value of homes has risen by 5.8% since 2017, and they are expected to rise by 3.3% over the next year through 2019. The median price of homes listed on the market in 2018 is $599,950, and the median sale price is $526,900. The median list price in square feet is $267, which is very close to the average list price per square foot of $268 in the Boston metropolitan area. Along with other factors, foreclosure rates have an impact on housing prices. The foreclosure rate here in 2018 is 22 homes out of every 10,000, which is greater than the national rate of 1.6 homes foreclosed out of every 10,000. The percentage of homeowners with delinquent mortgage payments is 1.5%, which is slightly less than the national average of 1.6%. The rate of homeowners who are underwater on their mortgages, which means they owe more on the home than the home is worth, is 5.3% as of April 2018, which is less than the 6.3% rate in the Greater Boston region. Overall, the housing market is healthy, and it has an overall financial score of 7.1 out of 10. The number of homes with negative equity in this town is about half that of the national average (5.3% and 10.4%, respectively).
Townhouses in this town average 100 days on the market before selling, but average times on the market further break down based on price. Properties with a list price of $200,000 or less stay on the market for the shortest amount of time, which is about 45 days. Homes with a list price between $400,000 and $600,000 spend roughly 156 days on the market, while homes with a price tag of $600,000 to $800,000 remain for sale for about 169 days. Homes listed for $1 million and more spend about a year on the market before selling. The highest volume of sales are typically in June and August, and December often posts high sales volumes too.
If you are planning to buy a place, 2018 is a perfect time to make the investment. Home values are projected to rise through 2019, which means that now is a more realistic time to get the price you want. From selecting a neighborhood where you want to live to applying for loans and arranging to tour homes, we're ready to work with you as you move to buy a home. Contact our office today, and we'll help make the most of your home buying experience.
If you are looking to sell a place, our staff is ready to work with you, too. We'll help you understand and manage all aspects of selling, which includes advertising your property in the right places, pricing it correctly, and preparing for a home inspection. Townhouses are different from selling homes in several ways, including that they are often restricted by homeowner's association allowances. Therefore, it's in your best interest to figure out what those restrictions and requirements are so that you can properly alert the incoming homeowner. Lastly, look for a realtor who is experienced specifically with selling townhouses, as he or she can help you highlight your home's best features for a smooth sale!
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