Newton Homeowner’s : The Time To Sell Is Now – We Have No Inventory

Sotheby’s Newton, MA.  West Newton Hill, Newton’s Top Brokers

Sellers the housing market in Newton is in dire need of listings.  We currently have only 53 single family homes for sale.  That number is so low it’s ridiculous!  A normal market in Newton is roughly 175-200 homes across all price ranges.  During the recession we had closer to 400 homes for sale.  Contrary to what most sellers think, April is not the best time to sell your house, January and February are the best months.  Why?  Because the inventory is usually lower and buyers are out in full force.  This is a supply and demand business.  Are you waiting for interest rates to rise?  It is so important to remember that a 1% rise is rates decreases purchasing power by 10.75%.  How many of you don’t think interest rates will rise this year?

I have attached a chart below with what is currently on the market, what has gone under agreement and what has sold in the past month.  Anything under 1 million dollars is flying off the market, the 1 million to 1.5 million is HOT and we can pretty much forget about the over 3 million market for the time being.  More on that market in another post.

Please, if you have though about selling your home, do it.  Get those rooms cleared out, put a fresh coat of paint in drab rooms, keep de-cluttering, but just do it!

CURRENTLY ON THE MARKET
 01/10/2014  
Price Range 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
$400,000 – $449,999 1 2
$450,000 – $499,999 1 20
$500,000 – $599,999 2 113
$600,000 – $699,999 2 30
$700,000 – $799,999 3 45
$800,000 – $899,999 8 75
$900,000 – $999,999 2 30
$1,000,000 – $1,499,999 10 97
$1,500,000 – $1,999,999 7 260
$2,000,000 – $2,499,999 3 201
$2,500,000 – $2,999,999 8 164
$3,000,000 – $3,999,999 4 137
$4,000,000 – $4,999,999 2 90
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 53 Avg. 123  
Lowest Price: $429,000
Median Price: $1,399,000
Highest Price: $4,500,000
Average Price: $1,749,364
Total Market Volume: $92,716,300

 

PENDING PAST MONTH
$300,000 – $349,999
$350,000 – $399,999
$400,000 – $449,999
$450,000 – $499,999 1
$500,000 – $599,999 2
$600,000 – $699,999 1
$700,000 – $799,999 2
$800,000 – $899,999 1
$900,000 – $999,999 4
$1,000,000 – $1,499,999 3
$1,500,000 – $1,999,999 2
$2,000,000 – $2,499,999 1
$2,500,000 – $2,999,999 1
$3,000,000 – $3,999,999
$4,000,000 – $4,999,999
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 18        

 

SOLD PAST MONTH
Price Range # of
Listings
Avg. Days
on Market
Average
Sale Price
       
$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 0 0 $0
$250,000 – $299,999 0 0 $0
$300,000 – $349,999 0 0 $0
$350,000 – $399,999 2 64 $370,000
$400,000 – $449,999 1 5 $420,000
$450,000 – $499,999 3 64 $491,500
$500,000 – $599,999 6 46 $553,000
$600,000 – $699,999 2 67 $657,650
$700,000 – $799,999 4 24 $753,750
$800,000 – $899,999 3 51 $839,667
$900,000 – $999,999 7 27 $934,429
$1,000,000 – $1,499,999 12 24 $1,209,167
$1,500,000 – $1,999,999 8 88 $1,786,750
$2,000,000 – $2,499,999 1 256 $2,310,000
$2,500,000 – $2,999,999 1 29 $2,650,000
$3,000,000 – $3,999,999 0 0 $0
$4,000,000 – $4,999,999 0 0 $0
$5,000,000 – $9,999,999 0 0 $0
$10,000,000 – $99,999,999 0
 TOTAL PROPERTIES                                      104
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