Home sellers

Newton Real Estate Prices by Zip Code


Newton Top Realtor, Compass, Price by Zip Code

Newton by Zip Code

 

                  SF SOLD 2018                                                SF SOLD 2019

ZIP             # UNITS     Average Price                        #UNITS      Average Price      % Change

02458         48              $1,272,000                                      56               $1,287,000          +1%

02459         161              $1,512,000                                    153             $1,625,000        +7%

02460         37               $1,254,000                                      45               $1,150,000         -8%

02461         71               $1,122,000                                      54               $1,281,000        +14%

02462         12               $1,042,000                                      13               $960,000              -8%

02464         11               $752,000                                           8                $880,000            +17%

02465         96               $1,542,000                                     104             $1,338,000         -13%

02466         36               $1,095,000                                      47               $1,255,000         +14%

02467         35               $1,900,000                                      30              $2,455,000           +29%

02468         75               $1,615,000                                      69               $1,661,000           +3%

 

CONDO      2018                                                                      CONDOS 2019

 

02458         55               $870,000                                         70               $801,000                      -8%

02459         37               $971,000                                         38              $1,098,000                   +13%

02460         41               $709,000                                         29               $899,000                      +26%

02461         10               $1,031,000                                      11               $799,000                      -22%

02462         4                $547,000                                            2                $526,000                       -4%

02464         31               $707,000                                         27               $675,000                       -5%

02465         16               $598,000                                         20              $961,000                       +65%

02466         17               $695,000                                         23               $740,000                      +06%

02467         63               $796,000                                          66               $686,000                      -13%

02468         5                 $1,279,000                                      11               $1,360,000                     -6%

 ALL OF NEWTON

SF              581             $1,421,000                                      580             $1,462,000                    +3%

CONDO    268                $809,000                                       298             $837,000                       +3% 

If you’d like to dive deeper into these numbers, do reach out to us.  Condition, location in a particular code, and lot size all come into play.   Smaller villages usually see a wider fluctuation due to volume.

 

 

 

 

 

Home Prices Increase in Every Price Range


NEWTON, MA. REAL ESTATE, TOP BROKERS IN NEWTON, MA. COMPASS, SOTHEBY’S

Home Prices Increase in Every Price Range

Home Prices Increase in Every Price Range | MyKCM

CoreLogic’s Home Price Index (HPI) Report revealed,

National home prices increased 3.6% year over year in July 2019 and are forecast to increase 5.4% from July 2019 to July 2020.

They also analyzed four individual home-price tiers, showing the increase in each.

Here’s the breakdown:

Home Prices Increase in Every Price Range | MyKCM

To clarify the methodology, CoreLogic explains,

“The four price tiers are based on the median sale price and are as follows: homes priced at 75% or less of the median (low price), homes priced between 75% and 100% of the median (low-to-middle price), homes priced between 100% and 125% of the median (middle-to-moderate price) and homes priced greater than 125% of the median (high price).”

What does this mean if you’re selling?Price appreciation can differ depending on your price range. If you’re a homeowner thinking of selling, let’s get together to find out how much your home is increasing in value, so you can price it competitively for today’s market.

CALL ME AT 617.921.6860 OR margaret@compass.com

Please Join Us at BenchMark Adelaide in Newton Centre


For an in-depth conversation about financial fraud.

 

Tuesday, September 10th from 5-7

157 Herrick Road, Newton Centre

RSVP: margaret@compass.com or 617-921-6860

Housing Supply Not Keeping Up with Population Increase


Newton, MA Top Realtors. Newton and Brookline Real Estate, Compass, Sotheby’s

Housing Supply Not Keeping Up with Population Increase

Housing Supply Not Keeping Up with Population Increase | MyKCM

Many buyers are wondering where to find houses for sale in today’s market. It’s a true dilemma. We see an increase in buyer demand, but the supply available for purchase isn’t keeping up.

The number of new housing permits issued prior to the great recession increased for 15 years until 2005 (from 1.12 million in 1990 to a pre-recession peak of 2.16 million in 2005). According to Apartment List,

From 1990 to 2005, the number of single-family permits issued more than doubled, while the number of multi-family permits grew by 49 percent.

Housing Supply Not Keeping Up with Population Increase | MyKCM

When the housing market crashed, the number of new homes permitted decreased to its lowest level in 2009 (see below):Since then, supply and demand have been out of balance when it comes to new construction. According to the same report,

Construction of single-family homes has recovered much more slowly — the number of single-family housing units permitted in 2018 was barely half the number permitted in 2005.”

Why is new construction so important?

As the U.S. population increases, there is also an increase in the need for new homes. Today, new construction is not keeping up with the increase in the nation’s population. The report continues:

“The total number of residential housing units permitted in 2018 was roughly the same as the number permitted in 1994, when the country’s population was 20 percent less than it is today.”

Essentially, the dip in home building coupled with the steadily increasing U.S. population means there is now a selling opportunity for homeowners willing to list their current houses.

Bottom Line

If you’re considering selling your home to move up, now is a great time to get a positive return on your investment in a market with high demand. Let’s get together to determine the specific options available for you and your family.

Is Renting Right for Me?


Newton, MA. Real Estate, Top Broker in Newton, Compass, Sotheby’s

Is Renting Right for Me? | MyKCM

If you’re currently renting and have dreams of owning your own home, it may be a good time to think about your next move. With rent costs rising annually and many helpful down payment assistance programs available, homeownership may be closer than you realize.

According to the 2018 Bank of America Homebuyer Insights Report, 74% of renters plan on buying within the next 5 years, and 38% are planning to buy within the next 2 years.

Is Renting Right for Me? | MyKCM
Is Renting Right for Me? | MyKCM

When those same renters were asked why they disliked renting, 52% said rising rental costs were their top reason, and 42% of renters believe their rent will rise every year. The full results of the survey can be seen below:It’s no wonder rising rental costs came in as the top answer. The median asking rent price has risen steadily over the last 30 years, as you can see below.There is a long-standing rule that a household should not spend more than 28% of its income on housing expenses. With nearly half of renters (48%) surveyed already spending more than that, and with their rents likely to rise again, it’s never a bad idea to reconsider your family’s plan and ask yourself if renting is your best angle going forward. When asked why they haven’t purchased a home yet, not having enough saved for a down payment (44%) came in as the top response. The report went on to reveal that nearly half of all respondents believe that “a 20% down payment is required to buy a home.”

The reality is, the need to produce a 20% down payment is one of the biggest misconceptions of homeownership, especially for first-time buyers. That means a large number of renters may be able to buy now, and they don’t even know it.

Bottom Line

If you’re one of the many renters who are tired of rising rents but may be confused about what is required to buy in today’s market, let’s get together to determine your path to homeownership.
« The Cost of Waiting: Interest Rates Edition [INFOGRAPHIC]

A Tale of Two Markets


Newton,MA, Compass, Sotheby’s #Suburban Boston Team #TopRealtor

A Tale of Two Markets — Absolutely True in Boston Area

A Tale of Two Markets [INFOGRAPHIC] | MyKCM

Some Highlights:

  • An emerging trend for some time now has been the difference between available inventory and demand in the premium and luxury markets and that in the starter and trade-up markets and what those differences are doing to prices!
  • Inventory continues to rise in the luxury and premium home markets which is causing prices to cool.
  • Demand continues to rise with lower-than-normal inventory levels in the starter and trade-up home markets, causing prices to rise on a year-over-year basis for 85 consecutive months.

Home Buyers are Optimistic About Homeownership!


Newton, MA. Brookline, Sotheby’s Compass Suburban Boston Team #TopRealtor

Home Buyers are Optimistic About Homeownership!

Home Buyers are Optimistic About Homeownership! | MyKCM

When we consider buying an item, we naturally go through a research process prior to making our decision. We ask our friends and family members who have made similar purchases about their experience, we get opinions and insights, and we read reviews online. There’s no difference when considering a home purchase!

Most homebuyers start by listening to the news to hear what is being said about the real estate market. They check with family and friends about their experience. They spend time online reading reviews about their desired neighborhood.

The challenge is that comments from the news and those closest to us can contradict the data and reports. One source says one thing, while another source says something completely different.

There is a group of homebuyers that are not allowing comments about an upcoming recession to interfere with their decision to buy a home. According to a survey by realtor.com®,

Nearly 70 percent of home shoppers this spring think the U.S. will enter a recession in the next three years, but that hasn’t stopped them from trying to close on a home…Despite the fact that they foresee an economic downturn, they generally expressed confidence that a future recession will be better than 2008 for the housing market.”

The report provides more insights from the survey:

  • Nearly 30% of the active home shoppers* surveyed expect the next recession to begin sometime in 2020.
  • 56% of shoppers believe home prices have hit their peak.
  • 41% believe housing will fare better than 2008.
  • 45% of home shoppers feel at least slightly more optimistic about homeownership.
  • 33% reported no impact on their feelings about homeownership.

Homebuyers are aware and making decisions with their eyes wide-open. As the report mentioned,

“The fact that some [36%] home shoppers expect the next recession to be harder on the housing market than the last recession suggests that they are buying homes with eyes wide-open and very sober, if not slightly pessimistic, views of the housing market.

This is a stark contrast to the years leading up to the last recession when ‘irrational exuberance’ was more common and yet another reason to expect that the next downturn will be very different for the housing market than the last.”

Bottom Line

If you are considering buying a home, let’s get together to help you understand our local market and determine if buying a home is the right choice for you now.

*Active home shoppers are those consumers who responded that they plan to purchase their next home in 1 year or less.