Bi Monthly Real Estate Recap for Newton, MA.

Bi Monthly Real Estate Recap for Newton, MA.cropped-cimg1501.jpg

posted by Margaret Szerlip 11.00AM EST/Newton, MA.

The real estate market continues to be busy this fall.  Inventory remains very low with a total of only 156 homes currently for sale.  115 of the 156 homes are priced over 1 million dollars and 61 or roughly 40% of the homes for sale in Newton are over 2 million dollars!  Kind of crazy.  A closer look reveals that the 1 million to 1.5 price range is most active with 9 homes going under agreement in the last 2 weeks. And another 9 priced between 1.5M and 2.5M.  The 600K price range seems to be lagging and I can assure you that is because houses are priced too high.  There is no lack of buyers in that price point.  The craziness of last spring’s bidding wars has abated somewhat. SOme of that is due to buyer fatigue of being out bid and some of that is greed on the part of sellers trying to suck every last cent out of a buyer.  I am also seeing more deals fall apart due to inspection issues.  When a buyer ends up paying more than they ever dreamed of paying for a house and an inspection turns up some nasty surprise you can be certain of a total walk away or a renegotiation from the buyer.  Sellers don’t be unreasonably greedy it could quite possibly come back to haunt you.

 


On-Market Snapshot
Report Run: 11/3/2014 10:48:54 AM
Property Type(s): SF
Snapshot Date: 11/03/2014
Towns: Newton
 11/03/2014  11/3/2014
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 1 24 1 24
$500,000 – $599,999 3 16 3 16
$600,000 – $699,999 14 45 14 48
$700,000 – $799,999 9 35 9 35
$800,000 – $899,999 6 43 6 43
$900,000 – $999,999 8 44 8 44
$1,000,000 – $1,499,999 30 72 30 73
$1,500,000 – $1,999,999 24 125 24 126
$2,000,000 – $2,499,999 24 134 24 135
$2,500,000 – $2,999,999 19 120 19 120
$3,000,000 – $3,999,999 12 171 12 171
$4,000,000 – $4,999,999 3 76 3 76
$5,000,000 – $9,999,999 3 194 3 194
Over $10,000,000
Total Properties 156 Avg. 97 156 Avg. 98
Lowest Price: $474,900
Median Price: $1,649,000
Highest Price: $6,950,000
Average Price: $1,903,710
Total Market Volume: $296,978,784
Lowest Price: $474,900
Median Price: $1,649,000
Highest Price: $6,950,000
Average Price: $1,903,710
Total Market Volume: $296,978,784

 

PENDING

Pending Statistics
Report Run: 11/3/2014 10:50:44 AM
Property Type(s): SF
Start Date: 10/20/2014
End Date: 11/03/2014
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 1 1
$350,000 – $399,999
$400,000 – $449,999
$450,000 – $499,999
$500,000 – $599,999 3 2 1
$600,000 – $699,999 3 1 2
$700,000 – $799,999 3 2 1
$800,000 – $899,999 5 3 2
$900,000 – $999,999
$1,000,000 – $1,499,999 9 5 4
$1,500,000 – $1,999,999 4 2 2
$2,000,000 – $2,499,999 5 2 3
$2,500,000 – $2,999,999 1 1
$3,000,000 – $3,999,999
$4,000,000 – $4,999,999 1 1
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 35 18 17 0 0
Lowest Price: $339,900 Median Price: $1,197,499.50
Highest Price: $4,250,000 Average Price: $1,444,159
Total Market Volume: $50,545,586

 

SOLD

Total Sold Market Statistics
Report Run: 11/3/2014 10:52:33 AM
Property Type(s): SF
Status: SLD
Start Date: 10/20/2014
End Date: 11/03/2014
Towns: Newton
Price Range # of
Listings
Avg. Days
on Market
Avg. Days
to Offer
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 0
$50,000 – $99,999 0 0 0 $0 $0 0 $0 0
$100,000 – $149,999 0 0 0 $0 $0 0 $0 0
$150,000 – $199,999 0 0 0 $0 $0 0 $0 0
$200,000 – $249,999 0 0 0 $0 $0 0 $0 0
$250,000 – $299,999 0 0 0 $0 $0 0 $0 0
$300,000 – $349,999 0 0 0 $0 $0 0 $0 0
$350,000 – $399,999 0 0 0 $0 $0 0 $0 0
$400,000 – $449,999 0 0 0 $0 $0 0 $0 0
$450,000 – $499,999 1 51 9 $495,000 $510,000 97 $510,000 97
$500,000 – $599,999 1 5 5 $570,000 $539,000 106 $539,000 106
$600,000 – $699,999 3 69 60 $659,000 $679,600 97 $721,600 92
$700,000 – $799,999 1 74 3 $720,000 $719,000 100 $719,000 100
$800,000 – $899,999 3 31 31 $858,000 $866,300 100 $891,633 97
$900,000 – $999,999 2 53 6 $916,000 $879,500 104 $874,000 105
$1,000,000 – $1,499,999 7 27 9 $1,203,551 $1,176,857 103 $1,176,857 103
$1,500,000 – $1,999,999 1 50 50 $1,870,000 $1,995,000 94 $1,995,000 94
$2,000,000 – $2,499,999 0 0 0 $0 $0 0 $0 0
$2,500,000 – $2,999,999 0 0 0 $0 $0 0 $0 0
$3,000,000 – $3,999,999 0 0 0 $0 $0 0 $0 0
$4,000,000 – $4,999,999 0 0 0 $0 $0 0 $0 0
$5,000,000 – $9,999,999 0 0 0 $0 $0 0 $0 0
$10,000,000 – $99,999,999 0 0 0 $0 $0 0 $0 0
Total Properties 19 Avg. 41 Avg. 22 $971,729 $968,300 101 $978,353 100
Lowest Price: $495,000 Median Price: $900,000
Highest Price: $1,870,000 Average Price: $971,729
Total Market Volume: $18,462,855
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