Newton MA Luxury Home Report September 2014.

Newton MA Luxury Home Report September 2014.  Newton, MA is located directly west of Boston about 8 miles depending on which points of these two cities you choose as the center.  In Newton there are 11 or so villages that make up this town.  This has been so for many years.  In fact by some reports there have been as many as 14 villages that make up Newton.  Nonantum, Auburndale, Newton Centre are just four of these villages.  Because of the great schools and the family, neighborhood feel to Newton it has long attracted some of the wealthiest families to it's luxury homes. 114 Shornecliffe Road pictured to the right is coming on the market, call for information.

Large families and extended families abound in Newton.  Today MLS in our area (MLSPIN) reportsthat over the last 6 months there have been  Single Family Active Listings: 152    Avg. Liv.Area SqFt: 4,407.15     Avg. List$: $1,861,936    Avg. List$/SqFt: $418     Avg. DOM: 94.24    Are you seeing that the average price for a home is a million eight?  Are you seeing the average size of the homes that are actively on the market today is more than four thousand, four hundred feet of living space.  Luxury is defined as the top 10% of the homes for sale, or sold based on price for that time.  So using this time the luxury homes in Newton begin over two million dollars.

Over the last month MLS is reporting Single Family Under Agreement Listings: 36    Avg. Liv.Area SqFt: 2,962.56     Avg. List$: $1,114,033    Avg. List$/SqFt: $381     Avg. DOM: 48.44

Single Family Sold Listings: 60    Avg. Liv.Area SqFt: 3,001.40     Avg. List$: $1,209,405    Avg. List$/SqFt: $409     Avg. DOM: 47.00    Avg. Sale$: $1,191,253   Avg. Sale$/SqFt: $408

What we are seeing with these numbers taken just as they are it shows that the Sales prices are way below the listing price. This is true of the size of the homes on average as well. The houses that were sold in the last month in Newton, MA were smaller and less expensive of the averages of the homes that are actively on the market.  Here are the Luxury Homes in Newton, MA over the last month

114-Shornecliffe-Rd-Newton

Single Family Active Listings: 53    Avg. Liv.Area SqFt: 6,480.66     Avg. List$: $3,112,666    Avg. List$/SqFt: $485     Avg. DOM: 131.74

Single Family Under Agreement Listings: 4    Avg. Liv.Area SqFt: 5,438.00     Avg. List$: $2,430,750    Avg. List$/SqFt: $454     Avg. DOM: 42.00

Single Family Sold Listings: 6    Avg. Liv.Area SqFt: 5,485.17     Avg. List$: $2,810,667    Avg. List$/SqFt: $541     Avg. DOM: 62.67    Avg. Sale$: $2,682,500   Avg. Sale$/SqFt: $522

OMG 53 Active listings of more than six thousand square feet of living, WOW.  10 of these homes are UAG or have been sold.  Just like with the market in general in Newton, the Luxury Market Sold prices and square footage is smaller than it is in the actives.  Can we say their is economy of scale even in the luxury homes?  This has been the Newton MA Luxury Home Report September 2014