Newton Real Estate Recap — We NEED Inventory

Newton Real Estate Recap — We NEED Inventory

Published February 11, 2105 EST Newton, MA.

We have been digging out for weeks now but the snow just keeps coming.  The real estate market is obviously slower than normal.  If we can widen some of these streets and walking paths soon the market will roar to life.  That being said, business is being conducted albeit at a slower pace.  We continue to struggle with a lack of inventory with only 81 homes for sale in what is normally the busiest time of the year.  A normal market has roughly 200 homes for sale.  I cannot remember the last time we had a normal market.    The market may be in the snowoldrums but 42 buyers snapped up a home since the first of the year across all price ranges.  The 1 million to 1.5 million is the most active segment.  I can attest that there are many buyers in that range.  I listed a home in early January for 1.279M and I had countless buyers through.  We received 3 offers and will close at the end of this month.  Interestingly, I see some of the same people at open houses I have seen for the past 2 years.  The truth is some of them are real buyers and some are tire kickers.  Most don’t have a broker and think they are going to get a great deal if they don’t have agent –WRONG!  An agent would help them understand if their wants are even possible and hopefully guide them to a great house.  That’s a blog post for another day.  The point is those people missed the market, there are no bargains out there.  We have an educated savvy buying population, they have seen everything, created a spread sheet and some of them know the inventory better than we do.   They can recite back details of specific homes with encyclopedic knowledge.

In any event, if you are thinking of selling I cannot think of a better time to sell or buy!

 

 

On-Market Snapshot
Report Run: 2/11/2015 11:06:47 AM
Property Type(s): SF
Snapshot Date: 01/01/2015
Towns: Newton
 01/01/2015  2/11/2015
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 9
$500,000 – $599,999 2 151
$600,000 – $699,999 4 90 2 68
$700,000 – $799,999 3 108 4 88
$800,000 – $899,999 4 69 1 155
$900,000 – $999,999 3 67
$1,000,000 – $1,499,999 10 130 20 81
$1,500,000 – $1,999,999 11 114 17 156
$2,000,000 – $2,499,999 10 238 13 219
$2,500,000 – $2,999,999 8 129 7 157
$3,000,000 – $3,999,999 9 185 10 227
$4,000,000 – $4,999,999 1 70 2 80
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 62 Avg. 140 81 Avg. 146
Lowest Price: $489,000
Median Price: $1,899,499.50
Highest Price: $4,195,000
Average Price: $2,015,180
Total Market Volume: $124,941,185
Lowest Price: $599,000
Median Price: $1,750,000
Highest Price: $4,300,000
Average Price: $1,988,265
Total Market Volume: $161,049,485

 

Pending Statistics
Report Run: 2/11/2015 11:08:24 AM
Property Type(s): SF
Start Date: 01/01/2015
End Date: 02/11/2015
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 2 2
$500,000 – $599,999 2 2
$600,000 – $699,999 6 5 1
$700,000 – $799,999 3 1 1 1
$800,000 – $899,999 5 5
$900,000 – $999,999 3 3
$1,000,000 – $1,499,999 10 5 4 1
$1,500,000 – $1,999,999 5 4 1
$2,000,000 – $2,499,999 2 1 1
$2,500,000 – $2,999,999 1 1
$3,000,000 – $3,999,999 2 1 1
$4,000,000 – $4,999,999 1 1
$5,000,000 – $9,999,999
Over $10,000,000
Total Properties 42 30 9 0 3
Lowest Price: $489,000 Median Price: $1,014,450
Highest Price: $4,000,000 Average Price: $1,312,778
Total Market Volume: $55,136,698

 

Total Sold Market Statistics
Report Run: 2/11/2015 11:09:47 AM
Property Type(s): SF
Status: SLD
Start Date: 01/01/2015
End Date: 02/11/2015
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 0 0 0 $0 $0 0 $0 0
$500,000 – $599,999 4 52 38 $566,250 $610,725 93 $620,500 91
$600,000 – $699,999 3 41 22 $657,333 $662,667 99 $689,333 96
$700,000 – $799,999 4 16 14 $744,522 $741,750 101 $741,750 101
$800,000 – $899,999 9 58 9 $846,497 $823,878 103 $829,433 102
$900,000 – $999,999 3 35 6 $933,629 $912,296 102 $912,296 102
$1,000,000 – $1,499,999 9 33 29 $1,251,278 $1,250,000 101 $1,278,333 99
$1,500,000 – $1,999,999 7 159 106 $1,691,857 $1,773,000 95 $1,872,286 91
$2,000,000 – $2,499,999 5 131 128 $2,159,105 $2,358,580 92 $2,698,580 81
$2,500,000 – $2,999,999 1 2 2 $2,900,000 $2,999,000 97 $2,999,000 97
$3,000,000 – $3,999,999 1 32 32 $3,775,000 $3,795,000 99 $3,795,000 99
$4,000,000 – $4,999,999 1 51 51 $4,000,000 $4,250,000 94 $4,250,000 94
$5,000,000 – $9,999,999 1 229 136 $5,495,000 $5,525,000 99 $6,295,000 87
$10,000,000 – $99,999,999 0 0 0 $0 $0 0 $0 0
Total Properties 48 Avg. 71 Avg. 47 $1,410,510 $1,449,429 99 $1,524,202 96
Lowest Price: $545,000 Median Price: $1,138,250
Highest Price: $5,495,000 Average Price: $1,410,510
Total Market Volume: $67,704,476

 

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