Bi-Monthly Real Estate Recap

It’s that time again for the Bi Monthly Recap…I’d just like to say that 2 weeks do not fly by in January like they do in the summer.  We continue to suffer from very low inventory and I am sensing buyer fatigue in the homes priced under 1 million dollars, there are only so many times a person can be outbid on a home.  The question is does that frustration lead to just a break or do buyers start looking in more affordable towns?  The answer is both, at some point paying 900+ for a 3 bedroom 2 1/2 bath with just average kitchen and baths just seems ludicrous.  For some buyers who already feel Newton is too suburban still believe it’s much more affordable here especially if you factor in school costs in the city.

There is still activity taking place this summer and I think more so than in previous summers.  Labor Day is very early and school starts early, the Jewish holidays are late this year so I expect September to be very busy.  There has been and uptick in the sale of homes priced over 1.5 million for the first time in a long while.  Let’s hope that continues.  Currently we have 137 homes on the market down from 144 two weeks ago.  The lowest inventory is in the 800-899 range.  27 homes have gone under agreement and 12 have contingency agreements in the past 2 weeks.  11 of those are priced above 1.5 million.  32 homes sold with the busiest price point being 1 million to 1.5 million with 11 homes sold.  The jumbo rate  and conforming rates are virtually the same which may explain the increase in over 1 million sales.

I would say this bodes well for the fall market…if you are thinking of selling call or email me at 617-921-6860 or margaretszerlip@gmail.com   Enjoy the rest of your summer.

 

On-Market Snapshot
Report Run: 8/4/2014 11:26:45 AM
Property Type(s): SF
Snapshot Date: 08/04/2014
Towns: Newton
 08/04/2014  8/4/2014
Price Range Number of
Listings
Avg. Days
on Market
vs. today Number of
Listings
Avg. Days
on Market
Under $50,000 - - - -
$50,000 – $99,999 - - - -
$100,000 – $149,999 - - - -
$150,000 – $199,999 - - - -
$200,000 – $249,999 - - - -
$250,000 – $299,999 - - - -
$300,000 – $349,999 - - - -
$350,000 – $399,999 1 54 1 54
$400,000 – $449,999 1 12 1 19
$450,000 – $499,999 2 11 2 11
$500,000 – $599,999 4 14 4 14
$600,000 – $699,999 6 62 6 71
$700,000 – $799,999 11 55 11 61
$800,000 – $899,999 4 89 4 96
$900,000 – $999,999 6 53 6 53
$1,000,000 – $1,499,999 27 58 27 59
$1,500,000 – $1,999,999 24 127 24 129
$2,000,000 – $2,499,999 21 113 21 113
$2,500,000 – $2,999,999 14 82 14 82
$3,000,000 – $3,999,999 11 166 11 166
$4,000,000 – $4,999,999 2 114 2 114
$5,000,000 – $9,999,999 3 103 3 103
Over $10,000,000 - - - -
Total Properties 137 Avg. 90 137 Avg. 91
Lowest Price: $399,000
Median Price: $1,639,000
Highest Price: $6,950,000
Average Price: $1,888,610
Total Market Volume: $258,739,586
Lowest Price: $399,000
Median Price: $1,639,000
Highest Price: $6,950,000
Average Price: $1,888,610
Total Market Volume: $258,739,586

 

Pending Statistics
Report Run: 8/4/2014 11:28:57 AM
Property Type(s): SF
Start Date: 07/22/2014
End Date: 08/04/2014
Towns: Newton
Went Pending Current Status
Price Range # of
Listings
# UAG # CTG # Sold # Other
Under $50,000 - - - - -
$50,000 – $99,999 - - - - -
$100,000 – $149,999 - - - - -
$150,000 – $199,999 - - - - -
$200,000 – $249,999 - - - - -
$250,000 – $299,999 - - - - -
$300,000 – $349,999 - - - - -
$350,000 – $399,999 - - - - -
$400,000 – $449,999 1 1 - - -
$450,000 – $499,999 - - - - -
$500,000 – $599,999 2 1 1 - -
$600,000 – $699,999 3 - 3 - -
$700,000 – $799,999 3 1 1 - 1
$800,000 – $899,999 3 1 1 - 1
$900,000 – $999,999 4 3 1 - -
$1,000,000 – $1,499,999 4 1 2 - 1
$1,500,000 – $1,999,999 5 2 3 - -
$2,000,000 – $2,499,999 - - - - -
$2,500,000 – $2,999,999 2 2 - - -
$3,000,000 – $3,999,999 - - - - -
$4,000,000 – $4,999,999 - - - - -
$5,000,000 – $9,999,999 - - - - -
Over $10,000,000 - - - - -
Total Properties 27 12 12 0 3
Lowest Price: $449,000 Median Price: $929,000
Highest Price: $2,995,000 Average Price: $1,188,214
Total Market Volume: $32,081,800

 

 

 

Total Sold Market Statistics
Report Run: 8/4/2014 11:29:33 AM
Property Type(s): SF
Status: SLD
Start Date: 07/22/2014
End Date: 08/04/2014
Towns: Newton
Price Range # of
Listings
Avg. Days
on Market
Average
Sale Price
Average
List Price
SP:LP
Ratio
Average
Orig Price
SP:OP
Ratio
$0 – $49,999 0 0 $0 $0 0 $0 0
$50,000 – $99,999 0 0 $0 $0 0 $0 0
$100,000 – $149,999 0 0 $0 $0 0 $0 0
$150,000 – $199,999 0 0 $0 $0 0 $0 0
$200,000 – $249,999 0 0 $0 $0 0 $0 0
$250,000 – $299,999 0 0 $0 $0 0 $0 0
$300,000 – $349,999 0 0 $0 $0 0 $0 0
$350,000 – $399,999 0 0 $0 $0 0 $0 0
$400,000 – $449,999 0 0 $0 $0 0 $0 0
$450,000 – $499,999 0 0 $0 $0 0 $0 0
$500,000 – $599,999 1 12 $590,000 $619,000 95 $619,000 95
$600,000 – $699,999 3 23 $655,000 $626,333 105 $626,333 105
$700,000 – $799,999 2 4 $722,250 $709,500 102 $709,500 102
$800,000 – $899,999 4 20 $833,250 $846,750 99 $854,250 98
$900,000 – $999,999 5 44 $950,800 $954,200 100 $954,200 100
$1,000,000 – $1,499,999 11 24 $1,240,182 $1,202,182 104 $1,229,818 103
$1,500,000 – $1,999,999 3 12 $1,643,333 $1,604,667 102 $1,604,667 102
$2,000,000 – $2,499,999 2 356 $2,157,500 $2,199,000 98 $2,362,500 91
$2,500,000 – $2,999,999 1 266 $2,525,000 $2,585,000 98 $2,585,000 98
$3,000,000 – $3,999,999 0 0 $0 $0 0 $0 0
$4,000,000 – $4,999,999 0 0 $0 $0 0 $0 0
$5,000,000 – $9,999,999 0 0 $0 $0 0 $0 0
$10,000,000 – $99,999,999 0 0 $0 $0 0 $0 0
Total Properties 32 Avg. 52 $1,171,828 $1,159,250 102 $1,179,906 101
Lowest Price: $590,000 Median Price: $1,055,000
Highest Price: $2,525,000 Average Price: $1,171,828
Total Market Volume: $37,498,500
About these ads

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s