2013 Newton Real Estate Market Re-Cap

Newton’s Top Brokers, Sotheby’s Newton, MA.  Newton, MA. Real Estate

Wishing all of you a very healthy, happy and prosperous 2014!
I’m hoping many of you find the following information informative.  2013 was a very good year for homes priced under 1.5, an ok year for homes priced between 1.5 and 2.5 and terrible over 3 million dollars.  I know most of you aren’t going to shed any tears for that pocket of sellers but those sales do affect the market in general.  It  has been my experience that most real estate markets are trickle down, meaning the high-end propels the less expensive homes.  The past year has been the opposite, the lower priced  started strong and ended stronger but we never seemed to see a surge in the very high-end here.  If we can’t break through a particular price barrier we will have a stagnant market.   We did however, have a sale priced over 6 million!  Please note that when I say lower priced I do not mean low-end.  We often forget in this wealthy community that buying a $500,000 home takes an enormous sum of money!  No one without a good job or an inheritance can afford a home priced at a 1/2 million dollars.  I’ll save my thoughts on that to post on another day.

2014 is anybody’s guess…we have oh so very little inventory, which will push prices up, but it also makes buyers sit on the sidelines waiting for new homes to come on the market.  Sellers if you are thinking about selling, act now, call me….mortgage rates will rise!  A 1% increase in rates reduces borrowing power by 10%!  Here are the numbers:  Yes,that is correct – a median house price of $911,000 and an average of $1,085,00!

Total Sold Market Statistics
Report Run: 1/6/2014 11:00:02 AM
Property Type(s): SF
Status: SLD
Start Date: 01/01/2013
End Date: 12/31/2013
Towns: Newton
$0 – $49,999

0

0

$0

 

 

 

 

$50,000 – $99,999

0

0

$0

$100,000 – $149,999

0

0

$0

$150,000 – $199,999

0

0

$0

$200,000 – $249,999

1

33

$226,100

$250,000 – $299,999

2

44

$280,950

$300,000 – $349,999

4

144

$339,475

$350,000 – $399,999

5

64

$375,000

$400,000 – $449,999

9

36

$422,322

$450,000 – $499,999

17

42

$470,324

$500,000 – $599,999

54

24

$554,586

$600,000 – $699,999

70

45

$648,351

$700,000 – $799,999

79

28

$742,828

$800,000 – $899,999

63

39

$855,175

$900,000 – $999,999

50

34

$946,241

$1,000,000 – $1,499,999

168

45

$1,231,941

$1,500,000 – $1,999,999

53

98

$1,727,119

$2,000,000 – $2,499,999

34

138

$2,254,968

$2,500,000 – $2,999,999

7

114

$2,754,643

$3,000,000 – $3,999,999

6

93

$3,596,667

$4,000,000 – $4,999,999

1

71

$4,000,000

$5,000,000 – $9,999,999

1

19

$6,300,000

$10,000,000 – $99,999,999

0

0

$0

 Total Properties:  624

Average Price: $1,085,000

Median Price:    $911,500

Highest Price: $6,300,000

Lowest Price:    $226,100

Dollar Volume:  $677,355,760

 

 

 

 

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One comment

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