Bi-Monthly Real Estate Recap Newton, MA.

Bi-Monthly Real Estate Recap Newton, MA.

Despite the usual slowdown during the Jewish holidays the real estate market has been humming along.  There are currently 175 single family homes listed for sale, down from 179 2 weeks ago.  179 homes for sale is still below normal.   38 homes went under agreement during this time frame.  17 homes sold in the past 2 weeks.  One thing I have started to notice are price changes, we have had 10 price reductions and one idiot raised their price in the last 2 weeks.  After all, if someone didn’t like your house at 600K they will surely love it at 629?!  The bulk of pendings were in the 800K-899K range followed by the 1M to 1.499M.  Over 2 million remains slow, however there was a sale in the over 5 million category.  That is something else I have noticed in Newton, Brookline, Wellelsey and Weston, the over 5 million market is definitely picking up steam.  Hopefully, that will trickle down.  We have been in a trickle up market for the past 2 years and it seems to stop at the 1.5 million mark.  Buyers continue to want new or like new at all price points.  Buyers still love white kitchens, I love white kitchens, but I am getting so sick of seeing the same kitchen in every newer house.   Let’s at least change-up the back splash and counter tops to something other than Carrera marble.   Apparently today’s buyers don’t want their children sharing a bathroom.  Really 2 kids can’t share a bath?  Jeez, how will these kids cope when they go to sleep away camp or college?  That’s a post for another day.  

The good news — I see the market continuing to be strong right up until Thanksgiving.  As always I appreciate your referrals.

On-Market Snapshot
Report Run: 10/6/2014 10:24:06 AM
Property Type(s): SF
Snapshot Date: 10/06/2014
Towns: Newton
 10/06/2014  10/6/2014
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
$400,000 – $449,999
$450,000 – $499,999 2 43 2 43
$500,000 – $599,999 10 30 10 30
$600,000 – $699,999 8 49 8 53
$700,000 – $799,999 9 46 9 46
$800,000 – $899,999 9 67 9 70
$900,000 – $999,999 12 39 12 39
$1,000,000 – $1,499,999 34 62 34 63
$1,500,000 – $1,999,999 29 136 29 138
$2,000,000 – $2,499,999 24 137 24 138
$2,500,000 – $2,999,999 19 101 19 101
$3,000,000 – $3,999,999 13 189 13 189
$4,000,000 – $4,999,999 3 126 3 126
$5,000,000 – $9,999,999 3 166 3 166
Over $10,000,000
Total Properties 175 Avg. 96 175 Avg. 97
Lowest Price: $465,000
Median Price: $1,589,000
Highest Price: $6,950,000
Average Price: $1,834,169
Total Market Volume: $320,979,581
Lowest Price: $465,000
Median Price: $1,589,000
Highest Price: $6,950,000
Average Price: $1,834,169
Total Market Volume: $320,979,581

 

PENDING

Pending Statistics
Report Run: 10/6/2014 10:26:38 AM
Property Type(s): SF
Start Date: 09/22/2014
End Date: 10/06/2014
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
$450,000 – $499,999 1 1
$500,000 – $599,999 3 1 2
$600,000 – $699,999 3 1 2
$700,000 – $799,999 4 3 1
$800,000 – $899,999 8 5 3
$900,000 – $999,999 3 2 1
$1,000,000 – $1,499,999 6 6
$1,500,000 – $1,999,999 4 2 1 1
$2,000,000 – $2,499,999
$2,500,000 – $2,999,999
$3,000,000 – $3,999,999
$4,000,000 – $4,999,999
$5,000,000 – $9,999,999 1 1
Over $10,000,000
Total Properties 33 21 9 0 3
Lowest Price: $495,000 Median Price: $889,000
Highest Price: $5,800,000 Average Price: $1,134,806
Total Market Volume: $37,448,599

SOLD

Total Sold Market Statistics
Report Run: 10/6/2014 10:27:37 AM
Property Type(s): SF
Status: SLD
Start Date: 09/22/2014
End Date: 10/06/2014
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 4 $500,000 $499,000 100 $499,000 100
$600,000 – $699,999 0 0 $0 $0 0 $0 0
$700,000 – $799,999 5 19 $763,000 $753,760 102 $757,760 101
$800,000 – $899,999 0 0 $0 $0 0 $0 0
$900,000 – $999,999 0 0 $0 $0 0 $0 0
$1,000,000 – $1,499,999 6 70 $1,173,167 $1,155,333 102 $1,256,833 96
$1,500,000 – $1,999,999 2 70 $1,733,750 $1,827,000 95 $1,882,500 92
$2,000,000 – $2,499,999 2 32 $2,170,500 $2,237,000 97 $2,322,000 93
$2,500,000 – $2,999,999 0 0 $0 $0 0 $0 0
$3,000,000 – $3,999,999 1 3 $3,500,000 $3,500,000 100 $3,500,000 100
$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 17 Avg. 43 $1,333,088 $1,342,812 100 $1,396,341 97
Lowest Price: $500,000 Median Price: $1,169,000
Highest Price: $3,500,000 Average Price: $1,333,088
Total Market Volume: $22,662,500

PRICE CHANGES

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