Newton Massachusetts Single Family Home Market Stats January 2011

Newton Massachusetts - Single Family Homes - January 2011

Market Statistics

For Sale

• There are currently 127 single family homes currently for sale in Newton Ma. (An increase of 15.5%.)
• The average list price for these homes is $1,367,313. (An increase of 5.5%)
• These homes have been on the market for an average of 152.28 days. (A decrease of 2.3%)

Under Agreement

• There are currently 39 single family homes under agreement to be sold in Newton, Ma. (A decrease of 22.00%.)
• The average list price for these homes is $1,259,579. (An increase of 2.7%.)
• These homes have been on the market for an average of 107.03 days. (A decrease of 0.5%)

Homes Sold

• 30 single family homes sold this month in Newton, Ma. (A decrease of 28.6%.)
• The average sale price for these homes was $936,005. (A decrease of 3.2%)
• These homes were on the market for an average of 96.87 days. (A decrease of 14.3%)

Absorption Rate

Absorption Rate is the ability of the real estate market to sell all of the houses currently for sale in a given amount of time. For example if there were currently 100 houses on the market and the houses were selling at a rate of 20 houses per month, there would be a five month supply of homes on the market. We can use this number to help determine what type of market we are in.

• When there is less than a 5 months supply of homes on the market this is considered a Seller's Market.
• When there is more than a 7 months supply of homes on the market this is considered a Buyer's Market.
• When there is between a 5 and 7 months supply of homes on the market this is considered a Balanced Market.