Newton MA Single Family Housing Report May 2016. MLSPIN, the MLS serving the Greater Boston Area provides us this months activities in Newton. Newton is a town made up of 13 individual villages. The diversity and culture is evident. This report pulls all activity over the last month and creates averages. Each specific neighborhood can vary and will vary depending on many factors. To understand all the glut of information work with a professional who can provide you insight and analysis of all the information.
278 total single family properties on the market in the last month in Newton, MA. 160 properties are Active or Contingent, 63 are Under Agreement and will be sold within the next cycle or two. 39 were sold. This statistics are indicating there are only 4.1 months of inventory currently on the market. This is a Seller’s market and what the industry has been talking about with lack of inventory.
Single Family Active Listings: 160 Avg. Liv.Area SqFt: 4,114.99 Avg. List$: $1,960,769 Avg. List$/SqFt: $467 Avg. DOM: 76.42 Avg. DTO: 14.00
Single Family Under Agreement Listings: 63 Avg. Liv.Area SqFt: 2,674.30 Avg. List$: $1,130,502 Avg. List$/SqFt: $432 Avg. DOM: 39.32 Avg. DTO: 22.87
Great Seller statistics here less than a month for an offer is fantastic. The Active homes are a lot larger than the UAG, and that is to be expected. The value priced homes in any market will gather more offers faster than its competition, always.
Single Family Sold Listings: 39 Avg. Liv.Area SqFt: 2,825.64 Avg. List$: $1,196,835 Avg. List$/SqFt: $428 Avg. DOM: 33.23 Avg. DTO: 19.95 Avg. Sale$: $1,207,574 Avg. Sale$/SqFt: $437
Even the Sold’s went quickly in this market. Newton is a great town to raise a family and to get into and out of the city.
Single Family Expired Listings: 7 Avg. Liv.Area SqFt: 5,317.00 Avg. List$: $2,153,667 * Avg. List$/SqFt: $401 Avg. DOM: 229.43
Single Family Canceled Listings: 9 Avg. Liv.Area SqFt: 5,338.78 Avg. List$: $2,282,278 Avg. List$/SqFt: $440 Avg. DOM: 131.00
Expired and Canceled properties indicate overpricing, poor condition and/or poor marketing. When properties are sold in a month and you have been on the market for more than 4 months you need to reconsider your strategy. Do you really want to sell? This has been the Newton MA Single Family Housing Report May 2016.