Newton Housing Stats 1st Quarter ’09 vs. ’08

The 1st quarter year over year results are in for Newton Single Family Homes

’09
Homes Sold 45
Average Sale Price $811,100
Days on Market 90
Highest Price $3,000,000
Lowest Price $314,000

’08
Homes Sold 77
Average Sale Price $875,124
Day on Market 113
Highest Price $1,850,000
Lowest Price $375,000

Prices are down about 7% from 1st quarter of ’08. Volume is down a whopping 40%, but days on the market is also down, from 113 days in ’08 to 90 days in ’09. The market is struggling the most at the high end. This year so far there have been nine sales above $1,000,000 compared with 21 at this time last year. Only two house have sold above 1.5 million this year, last year 12 homes sold above 1.5.
At this point Newton has 26 homes priced above 2 million dollars, (a record) expect to see homes withdrawn or price reductions to get the high end moving again.

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4 comments

    1. Yes the median price for Newton:

      ’08 717,500
      “09 736,000

      Yes, that is correct ’09 is higher than ’08. I used the average because i feel that lower prices are a true representation of the market. Houses that have been priced correctly are selling. Some of the homes from the 1st quarter sales went under agreement in November and December.

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  1. You think average is a better representation than median? You are in the minority on that one. I have never heard an expert in real estate say that before.

    Like

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