We Know The Real Value In Real Estate
A market update from Suburban Appraisal Services, your experienced Boston real estate appraiser.
Fifty-nine homes are under agreement for sale. Median asking price was $925,000 and Average Days on Market was seventy-nine. This data suggests an oversupply in all price segments.
| $0-$999,999 | 36 | $687,450 | 72 |
|---|---|---|---|
| $1,000,000-$1,499,999 | 10 | $1,149,500 | 46 |
| $1,500,000-$1,999,999 | 4 | $1,747,000 | 141 |
| $2,000,000+ | 9 | $2,250,000 | 116 |
| Total/Averages | 59 | $925,000 | 79 |
A market update from Suburban Appraisal Services, your experienced Boston real estate appraiser.
At present, there exist 197 active offerings. Eighty-two of these listings are priced in excess of $1,000,000 of which forty-three are priced above $1,500,000. Thirty-two listings have accepted offers, but remain active pending signing of Purchase and Sale Agreements. Columns are price range, # of listings, median asking price, days on market.
*Thirty two (32) of these listings have accepted offers but remain active pending signed P&S agreements.*
| $0-$999,999 | 115 | $685,000 | 84 |
|---|---|---|---|
| $1,000,000-$1,499,999 | 39 | $1,249,000 | 115 |
| $1,500,000-$1,999,999 | 19 | $1,695,000 | 150 |
| $2,000,000+ | 24 | $2,675,000 | 149 |
| Total/Averages | 197 | $899,000 | 104 |
A market update from Suburban Appraisal Services, your experienced Boston real estate appraiser.
MLS reported seventy-four sales in Q1 of 2011 as compared with seventy-three in Q1 of 2010. Median sales price, quarter to quarter, increased significantly from $705,000 in Q1 of 2010 to $837,000 in 2011. Average days on market increased from seventy-five days to 113 days. Columns are year, price range, # sales, median price, days on market. Each year has a totals row which shows total number of sales, median price and average # of days on market.
| Q1 2011 | $0-$999,999 | 47 | $580,100 | 98 |
|---|---|---|---|---|
| Q1 2011 | $1,000,000-$1,499,999 | 13 | $1,200,000 | 118 |
| Q1 2011 | $1,500,000-$1,999,999 | 8 | $1,694,250 | 187 |
| Q1 2011 | $2,000,000+ | 6 | $2,524,000 | 127 |
| Q1 2011 Total/Averages | 74 | $837,000 | 113 | |
| Q1 2010 | $0-$999,999 | 59 | $610,000 | 63 |
| Q1 2010 | $1,000,000-$1,499,999 | 10 | $1,202,500 | 126 |
| Q1 2010 | $1,500,000-$1,999,999 | 1 | $1,600,000 | 317 |
| Q1 2010 | $2,000,000+ | 3 | $3,049,818 | 60 |
| Q1 2010 Total/Averages | 73 | $705,000 | 75 |
A market update from Suburban Appraisal Services, your experienced Boston real estate appraiser.
Eight new homes have sold during 2011 with a median sales price of $1,610,000. Average marketing time was 156 days. Columns are quarter, # of sales, median price, days on market.
| Q1 2011 | 8 | $1,610,000 | 156 |
|---|
At present, there are eleven (11) new homes listed for sale and there are five pending sales. Median list price for the active offerings is $1,537,000 and the median list price of the pending sales is $2,195,000. The below table illustrates the active offerings. Columns are price range, # of listings, median asking price, days on market.
| $0-$999,999 | 2 | $943,450 | 75 |
|---|---|---|---|
| $1,000,000-$1,499,999 | 3 | $1,399,000 | 134 |
| $1,500,000-$1,999,999 | 2 | $1,537,000 | 261 |
| $2,000,000+ | 4 | $2,222,000 | 130 |
A market update from Suburban Appraisal Services, your experienced Boston real estate appraiser.
This is the first in a series of posts on the current real estate market conditions in Newton, MA.
Contrary to the news in much of the rest of the country, the Newton, MA real estate market remained strong/stable in 2010 as compared to the prior year (2009). Total number of single family sales increased slightly from 511 in 2009 to 518 in 2010. Median selling price rose modestly from $731,500 to $744,150. Average marketing time was virtually unchanged from eighty-four days in 2009 to eighty-seven days last year. See the below chart for the comparison. Columns are year, # of sales, median price, days on market.
| 2009 | 511 | $731,500 | 84 |
| 2010 | 518 | $744,150 | 87 |
Seventeen new homes sold in 2010 with a median selling price of $1,790,000. This represents a decline in volume as compared with twenty-four sales of new homes in 2009. Median price increased approximately 25% from 2009 which had a median selling price for new construction of $1,433,750. Average days on market declined slightly from 163 days in 2009 to 156 in 2010. See the below chart for the comparison. Columns are year, # of sales, median price, days on market.
| 2009 | 24 | $1,433,750 | 163 |
| 2010 | 17 | $1,790,000 | 156 |
Sales of new single-family houses in June 2010 were at a seasonally adjusted annual rate of 330,000, according to estimates released jointly today by the U.S. Census Bureau and the Department of Housing and Urban Development. This is 23.6 percent (±15.3%) above the revised May rate of 267,000, but is 16.7 percent (±10.9%) below the June 2009 estimate of 396,000.
Real Estate, Like Any Market, Is Cyclical
The median sales price of new houses sold in June 2010 was $213,400; the average sales price was $242,900. The
seasonally adjusted estimate of new houses for sale at the end of June was 210,000. This represents a supply of 7.6
months at the current sales rate.
Follow the link here for the detailed report.
Suburban Appraisal Services
727 Washington Street
Newton, MA 02460
(617) 969-3006 (Office)
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