American Dream

Newton Recap September 1, 2011-October 15, 2011 VS. 2012


Best Realtor to explain market with numbers, newtonmasshomesforsale.com, margaret szerlip, Newton, MA. real estate
September 1, 2011 thru October 15th 2012 vs. 2011
2011      59 Homes     $814,689  Average Sale Price       $750,000   Median Sale Price
2012     58 Homes     $983,934 Average Sale Price       $757,000   Median Sale Price
The difference this year is more homes sold priced between $1,500,000 and 3,000,000 13 this year versus 4 last year.  That accounts for the jump in average sale price but the median of 750,000 remains almost unchanged.
It is important to bear in mind that the sold statistic reflect what happened 60-90 days prior to the closing date.
This year there are 86 properties currently under agreement vs. 59 during the same period last year, a significant improvement.  This year there are 51 properties under agreement priced between 500,000 and 1,000,000 vs. 32 last year.  There are currently 26 homes under agreement priced between 1,000,000 and 2,500,000 vs 17 in 2011.   

Report Name: 
Total Sold Market Statistics Print this page  /  E-mail this page  /  Make a PDF of this pagePDF this page
Report Run: 10/16/2012 11:23:36 AM
Property Type(s): SF
Status: SLD
Start Date: 09/01/2011
End Date: 10/15/2011
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 1 129 $290,000 $297,500 97 $335,900 86
$300,000 – $349,999 1 1 $339,000 $339,000 100 $339,000 100
$350,000 – $399,999 2 171 $391,250 $424,500 92 $433,944 90
$400,000 – $449,999 2 30 $404,817 $394,000 103 $394,000 103
$450,000 – $499,999 3 32 $486,333 $509,000 96 $509,000 96
$500,000 – $599,999 11 88 $539,000 $566,509 95 $578,055 93
$600,000 – $699,999 6 128 $667,083 $728,665 92 $784,817 85
$700,000 – $799,999 12 68 $758,091 $773,250 98 $782,325 97
$800,000 – $899,999 4 136 $830,625 $902,225 92 $992,000 85
$900,000 – $999,999 6 90 $947,150 $1,044,833 92 $1,082,333 89
$1,000,000 – $1,499,999 7 119 $1,191,214 $1,279,429 93 $1,389,571 86
$1,500,000 – $1,999,999 3 132 $1,616,667 $1,706,333 95 $1,706,333 95
$2,000,000 – $2,499,999 0 0 $0 $0 0 $0 0
$2,500,000 – $2,999,999 0 0 $0 $0 0 $0 0
$3,000,000 – $3,999,999 1 313 $3,164,000 $3,475,000 91 $3,599,000 88
$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 59 Avg. 98 $814,689 $866,288 95 $902,037 92
Lowest Price: $290,000 Median Price: $750,000
Highest Price: $3,164,000 Average Price: $814,689
Total Market Volume: $48,066,623


page  /  E-mail this page  /  Make a PDF of this pagePDF this page
Report Run: 10/16/2012 12:08:25 PM
Property Type(s): SF
Status: SLD
Start Date: 09/01/2012
End Date: 10/15/2012
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 2 37 $270,179 $287,450 94 $292,450 92
$300,000 – $349,999 0 0 $0 $0 0 $0 0
$350,000 – $399,999 2 64 $377,500 $387,450 97 $387,450 97
$400,000 – $449,999 4 27 $428,750 $422,000 102 $422,000 102
$450,000 – $499,999 3 83 $476,000 $481,333 99 $479,000 100
$500,000 – $599,999 9 51 $551,028 $567,000 97 $582,667 95
$600,000 – $699,999 7 71 $640,114 $660,538 97 $670,953 95
$700,000 – $799,999 5 53 $758,300 $743,200 102 $743,200 102
$800,000 – $899,999 3 50 $835,000 $822,333 102 $829,000 101
$900,000 – $999,999 4 90 $941,563 $1,005,250 94 $1,055,250 90
$1,000,000 – $1,499,999 7 34 $1,141,714 $1,210,857 95 $1,210,857 95
$1,500,000 – $1,999,999 8 49 $1,646,250 $1,720,362 96 $1,804,863 92
$2,000,000 – $2,499,999 3 127 $2,040,667 $2,150,000 95 $2,266,633 90
$2,500,000 – $2,999,999 1 110 $2,680,000 $2,800,000 96 $2,800,000 96
$3,000,000 – $3,999,999 1 84 $3,999,000 $3,999,000 100 $3,999,000 100
$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 59 Avg. 59 $981,426 $1,015,262 97 $1,040,055 96
Lowest Price: $260,358 Median Price: $775,000
Highest Price: $3,999,000 Average Price: $981,426
Total Market Volume: $57,904,158

House Prices: Experts Becoming More Optimistic


 

Margaret Szerlip, Newton, MA. Realtor, West Newton Hill, Realtor

 

House Prices: Experts Becoming More Optimistic

This is very good news for the housing market and confirms what we are seeing here in Newton, Brookline, Wellesley….I want to caution sellers that we are experiencing moderate uptick in prices.  I have noticed that after Labor Day at least 25% of listings seem overpriced, and these houses are still sitting on the market unsold, while their competition priced correctly were sold within the week, some with multiple offers above asking.  If you house is not getting any showings, or no second showings, your house is most likely overpriced in comparison to your competition.  When a house is overpriced it is the best advertisement for other houses.

Each quarter, Pulsenomics surveys a

“distinguished panel of over 100 economists, investment strategists, and housing market analysts regarding their 4-year expectations for future home prices in the United States.”

Here are the latest survey results.

Price appreciation/depreciation expected over the next four years:

  • 2012: 2.31%
  • 2013: 2.44%
  • 2014: 3.25%
  • 2015: 3.43%

Fiserv also released a report projecting home prices to appreciate at an average of 3.7% annually over the next five years.

The average pre-bubble (1987-1999) annual appreciation was 3.6%

Margaret Szerlip

617-921-6860  margaretszerlip@gmail.com

 

 

2011: The Year a House Becomes A Home


2011: The Year a House Again Becomes a Home

  • For almost a decade now, every time we talked about real estate we immediately discussed money. We didn’t talk about the value of a home but instead about the price of the house. We didn’t worry about a roof over our heads but instead the ceiling on our interest rate. We didn’t care as much about where we raised our family as we cared about how much we increased our family’s net worth.

That will change in 2011. KLK Sotheby’s believe very strongly that real estate will return to what it has been for the 200+ year history of this country: a place for us and our families to live comfortably. It will also prove to be a great long term investment as it always has been.

Our parents and our grandparents didn’t buy their homes as a short term financial investment. They bought it so they had a place of their own to come home to at the end of the day; a place to raise their family; a place they could feel safe.

Sure they dreamed of a ‘mortgage-burning’ party. They realized it was a form of forced savings. They were taught that, if they paid their mortgage every month, they would wind up with a little retirement account decades later.

And, they realized that wouldn’t happen if they rented.

However, in the last decade, we somehow forgot that the financial aspect was the serendipity not the major reason to buy. We believe that 2011 will be the year that people return to the historic reasons families purchased a home. This is the year when we again remember that homeownership is a major part of the American Dream.

What about the challenges to a housing recovery? Let’s look at them.

The Economy

Most reports are showing that the economy is doing better than expected. This shopping season provided additional proof of this point. As the economy recovers, so will consumer confidence. This will be great news for housing.

Unemployment

There is much talk about a ‘jobless recovery’. We agree that unemployment will continue to be a challenge. However, when you talk about housing, it is not the unemployment rate that is all telling. Instead, it is the change in the rate. As unemployment skyrocketed, people started to worry about their own job. Any change creates concern. Unabated concern turns to fear. Fear causes paralysis. The spike in unemployment has plateaued. People no longer have the feeling that ‘they are next’. The fear will diminish and people will start moving on with their lives. This too will be great news for housing.

Interest Rates

It seems the bottomless pit in which rates have been falling does have a floor after all. And it seems we have found it. Those purchasers who had been waiting for the best interest rate may have already missed it.

Prices

Economists are projecting that prices will not see any appreciation in 2011. Sellers who had been waiting for 2006 to return will come to the realization that waiting any longer makes little sense. They will instead decide to get on with their lives and sell this year.

Prices probably will soften further. However, the possible savings to potential buyers will be minimized by a rise in interest rates.

Bottom Line

This is the year that normalcy returns to real estate. People will buy and sell based on the desire for a better life for themselves and their families. They will realize that is the true value of homeownership and they will be willing to pay for that value.