Newton, Massachusetts Condominium Market Stats April 2011

Newton Massachusetts - Condos - April 2011

Market Statistics

Newton Condominiums For Sale

• There are currently 147 condos currently for sale in Newton Ma. (An increase of 11.4%.)
• The average list price for these condos is $560,689. (An increase of 1.1%.)
• These condos have been on the market for an average of 150.60 days. (A decrease of 13.0%)

Newton Condominiums Under Agreement

• There are currently 43 condos under agreement to be sold in Newton, Ma. (An increase of 19.4%.)
• The average list price for these condos is $514,614. (An increase of 6.5%.)
• These condos have been on the market for an average of 98.93 days. (An increase of 18.9%.)

Newton Condominiums Sold

• 20 condos sold during this month in Newton, Ma. (An increase of 53.9%)
• The average sale price for these condos was $435,616. (A decrease of 5.0%.)
• These condos were on the market for an average of 105.95 days. (An increase of 15.9%.)

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.