Newton Massachusetts - Single Family Homes - July 2010
Market Statistics
There are currently 200 single family homes currently for sale in Newton Ma. (A drop of 18% from June.) The average list price for these homes is $1,222,996 and these homes have been on the market for an average of 111.89 days.
There are currently 76 single family homes under agreement to be sold in Newton, Ma. (A drop of 22.4% from June.) The average list price for these homes is $993,547 and these homes have been on the market for an average of 64.41 days.
54 single family homes sold during the month of July 2010 in Newton, Ma. (An increase of 23.9% from June.) The average sale price for these homes was $1,004,263 and these homes were on the market for an average of 68.44 days.
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.
| Time Frame | 12 Months | 6 Months | 3 Months | 1 Month |
| Transactions Closed | 537 | 283 | 188 | 54 |
| Average Days on Market | 72.87 | 69.13 | 66.22 | 68.44 |
| Average Sales Price | $881,167 | $865,886 | $944,041 | $1,004,263 |
| Average Home Sales Per Month | 44.75 | 47.17 | 62.67 | 54.00 |
| Months Supply on Market | 4.47 | 4.24 | 3.19 | 3.70 |
Market Analysis
Inventory of Single Family Homes in Newton continue to fall.
Pending Single Family Homes sales have drop by over 20% in July.
Sales of Single Family Homes fell by almost 24% in July.
Absorption Rate statistics tells us that single family home market in Newton Massachusetts is a seller's market. However with mortgage rates at historical lows, the market is still very attractive for buyers.
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