Newton 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: $431 Avg. DOM: 98.46
As you can see the homes in Newton are large and the days on market can be very long in the luxury market. Below you see the numbers for houses Under Agreement. This is a big uptick in activity over the last 30 days driven by a lot of price breaks on the houses languishing and older homes coming back on the market. Houses UAG are slightly smaller with a slightly smaller list price, but a higher list/sq foot cost. The DOM remains similar on average.
Single Family Under Agreement Listings: 35 Avg. Liv.Area SqFt: 4,569.14 Avg. List$: $1,972,254 Avg. List$/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: $441
This is a huge jump in activity this past month, HUGE. We now have moved from a very slow market to one that is moving very quickly. The buyers are out. Have your house ready and make sure it is listed better, and marketed better than the competition. Storyteller Marketing makes a difference and that is what we provide the market and our clients.
Single Family Expired Listings: 5 Avg. Liv.Area SqFt: 4,458.40 Avg. List$: $2,091,400 Avg. List$/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