Newton Luxury Housing Market Report April 2015

By
Real Estate Agent with YourStories Realty Group powered by Castles Unlimited® MA# 9517963

Newton MA luxury home for saleNewton Luxury Housing Market Report April 2015. Report statistics come from MLSPIN.  Luxury is defined as the top 10% of the MLS market.  Since MLSPIN includes towns like Brockton and other lower priced neighborhoods the Luxury market will begin around $880,000.  In Newton the top 10 percent of the market begins at $2,100,000. For this report we will only include properties of one million dollars or more.

There are 142 total houses showing in the last 30 days in Newton. The Active, New, Back on Market, or Price Changed house number is 80 of these homes. There is precious little inventory on the market right now so each of these listings will be fully scrutinized.

Single Family Active Listings: 80    Avg. Liv.Area SqFt: 4,851.53     Avg. List$: $2,061,922    Avg. List$/SqFt: $431     Avg. DOM: 98.46 

Newton MA-close to BostonAs you can see the homes in Newton are large and the days on market can be very long in the luxury market. Below you see the numbers for houses Under Agreement.  This is a big uptick in activity over the last 30 days driven by a lot of price breaks on the houses languishing and older homes coming back on the market.  Houses UAG are slightly smaller with a slightly smaller list price, but a higher list/sq foot cost. The DOM remains similar on average.

Single Family Under Agreement Listings: 35    Avg. Liv.Area SqFt: 4,569.14     Avg. List$: $1,972,254    Avg. List$/SqFt: $433     Avg. DOM: 99.80     Avg. DTO: 62.69

Single Family Sold Listings: 19    Avg. Liv.Area SqFt: 3,699.89     Avg. List$: $1,539,358    Avg. List$/SqFt: $433     Avg. DOM: 88.79     Avg. DTO: 46.79    Avg. Sale$: $1,542,876   Avg. Sale$/SqFt: $441

Entering NewtonThis is a huge jump in activity this past month, HUGE.  We now have moved from a very slow market to one that is moving very quickly. The buyers are out.  Have your house ready and make sure it is listed better, and marketed better than the competition.  Storyteller Marketing makes a difference and that is what we provide the market and our clients.

Single Family Expired Listings: 5    Avg. Liv.Area SqFt: 4,458.40     Avg. List$: $2,091,400    Avg. List$/SqFt: $503     Avg. DOM: 74.20

Single Family Canceled Listings: 3    Avg. Liv.Area SqFt: 5,379.00     Avg. List$: $1,829,000    Avg. List$/SqFt: $366     Avg. DOM: 109.33

The expired and canceled listings show you a much larger price per square foot indicating over pricing for the market.  114 Shornecliffe is priced well below this average and comes in as one of the best luxury houses on the market today.  This has been the Newton Luxury Housing Market Report April 2015

Posted by

Larry Lawfer, Realtor®YourStories Realty, It's all about you,

Larry Lawfer

Partner

Realtor®, Director of Marketing

YourStories Realty Group powered by Castles Unlimited®

837 Beacon St

Newton, MA 02459

larry@yourstoriesrealty.com, 617-774-8292

Comments (1)

Captain Wayne - Rowlett Real Estate School
Rowlett Real Estate School - Panama City, FL
Rowlett Real Estate School / Owner and Instructor

Great Job on the market report.  Keep up the good work!

May 04, 2015 03:16 PM