In an effort to be knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton, MA market statistics weekly on Fridays.
The market in Newton has seemingly slowed in comparison to last year at this time, but there are a few bright spots as well. Average sales prices have dropped significantly between 2007 and 2008 in single family homes, condominiums and multi-family homes. In single family home sales there have been 102 less sales year-to-date, which is a pretty steep number. Inventory is still doing well though, hovering around 150 homes on the market. This means that either homes are being overpriced or potential buyers are "waiting for the market to bottom out."
A bright spot is that condominium home sales have dropped the least and have almost identically market inventory. With 245 sales year-to-date the condominium market seems to be close to the level of last year.
If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com
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