Newton MA Housing Market Update

April 2014

Newton Single Family Market

o How prices have changed in Newton?

o What drives the changes in Prices?

o Which homes buyers buy the most?

o How long will it take to sell a house?

o What is the overall trend, and will it last?

Comparing year-over-year because real estate is seasonal.

Sold Homes in March 2010-2014

Median Home Prices since 2008 Median prices of houses on market in Newton Center

What’s On Market?

1

1

2

5

8

8

19

22

13

8

10

2

1

$450,000 - $499,999

$500,000 - $599,999

$600,000 - $699,999

$700,000 - $799,999

$800,000 - $899,999

$900,000 - $999,999

$1,000,000 - $1,499,999

$1,500,000 - $1,999,999

$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

Newton Single Family Houses on Market

54 Houses are priced between $1,000,000 to $2,499,999

Pending Home Sales

2

2

13

9

15

10

15

35

18

5

4

4

$400,000 - $449,999

$450,000 - $499,999

$500,000 - $599,999

$600,000 - $699,999

$700,000 - $799,999

$800,000 - $899,999

$900,000 - $999,999

$1,000,000 - $1,499,999

$1,500,000 - $1,999,999

$2,000,000 - $2,499,999

$2,500,000 - $2,999,999

$3,000,000 - $3,999,999

Newton Single Family Houses Pending Sales

132 Houses Pending Sale, 68 of them priced $900,000 to $1,999,999

Absorption Rate The

absorption rate

measures how long it

will take current

inventory to sell if no new

inventory came on market.

1.00 0.38 0.86

1.36 2.40

1.71

3.56 4.71

7.80

24.00

15.00

Newton Houses Absorption Rates by Price

Newton CTR Market Action Index Above 30, it’s a seller’s market, and below 30 is a buyers’ market

Inventory of Houses in Newton CTR What drives the market? Supply and demand, and suppliers

decide whether they sell or not

Turnaround

in sight?

(617) 807 - 0471

Ruth.Lerner@raveis.com

RuthMalkinLerner.com

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