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Buying a home in much of Arlington and a large Cambridge neighborhood is as tough as buying a home in parts of the San Francisco Bay area.
East Arlington, the combined eastern half of Arlington Heights and a portion of Morningside Heights, Cambridgeport and Arlington Center ranked third, fifth, eighth and 14th on Redfin’s list of the most competitive neighborhoods of 2019. These four neighborhoods joined 10 Bay Area neighborhoods on the list of 20 most competitive neighborhoods in the country
The online brokerage and real estate listings site scored neighborhoods based on the average number of competing offers made on individual listings, the percent of total offers where at least one contingency was waived, the ratio of sale price to list price and the number of days on market. Each of the top 20 neighborhoods score above 90 on a 100-point scale.
While bidding wars are down in many Greater Boston markets, market-watchers say, Redfin’s report shows that’s hardly the case everywhere. In East Arlington, two-thirds of homes sold above list price and were on the market for a median of nine days, a similar picture seen in other neighborhoods.
The year-to-date median single-family sale price in Arlington is $815,000 while the same figure for condominiums is $610,000 according to The Warren Group, publisher of Banker & Tradesman. For Cambridge, those figures are $1.48 million and $760,000, respectively.
