Newton, Massachusetts Condominium Market Stats May 2011

Newton Massachusetts - Condos - May 2011

Market Statistics

Newton Condominiums For Sale

• There are currently 145 condos currently for sale in Newton Ma. (A decrease of 1.36%.)
• The average list price for these condos is $538,619. (A decrease of 3.94%.)
• These condos have been on the market for an average of 119.66 days. (An increase of 13.31%)

Newton Condominiums Under Agreement

• There are currently 47 condos under agreement to be sold in Newton, Ma. (An increase of 9.30%.)
• The average list price for these condos is $514,085. (A decrease of 0.10%.)
• These condos have been on the market for an average of 76.30 days. (A decrease of 22.87%.)

Newton Condominiums Sold

• 25 condos sold during this month in Newton, Ma. (An increase of 25.00%)
• The average sale price for these condos was $449,804. (An increase of 3.26%.)
• These condos were on the market for an average of 107.28 days. (An increase of 1.26%.)

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.