Newton, Mass Condominium Market Stats February 2011

Newton Massachusetts - Condos - February 2011

Market Statistics

For Sale

• There are currently 90 condos currently for sale in Newton Ma. (An increase of 2.8%.)
• The average list price for these condos is $569,149. (An increase of 0.8%.)
• These condos have been on the market for an average of 144.04 days. (A decrease of 10.6%)

Under Agreement

• There are currently 24 condos under agreement to be sold in Newton, Ma. (An increase of 26.3%.)
• The average list price for these condos is $513,933. (A decrease of 9.4%.)
• These condos have been on the market for an average of 112.46 days. (An increase of 25.5%.)

Homes Sold

• 12 condos sold during this month in Newton, Ma. (An increase of 140.0%)
• The average sale price for these condos was $506,167. (An increase of 9.0%.)
• These condos were on the market for an average of 148.83 days. (A decrease of 22.7%.)

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.