Newton MA Single Family Housing Report April 2016

Newton MA Single Family Housing Report April 2016. Newton is one of the largest and most diverse communities in MA.  There are 13 villages each with their own personality that come together to make the community of Newton.  This is what is going on with the single family housing report from MLSPIN. There is a total of 339 properties in the various states of sale in real estate.  With 134 Active listings in this time period and 73 Sold listings this is  a two month inventory and 4 months below what a normal inventory of homes would be. This creates more competition and drives the price of most properties up.

Single Family Active Listings: 134    Avg. Liv.Area SqFt: 4,328.86     Avg. List$: $2,003,173    Avg. List$/SqFt: $454     Avg. DOM: 91.75     Avg. DTO: 33.25

Single Family Under Agreement Listings: 91    Avg. Liv.Area SqFt: 3,215.95     Avg. List$: $1,347,039    Avg. List$/SqFt: $421     Avg. DOM: 45.41     Avg. DTO: 28.80

These statistics gather all single family homes of all sizes and from each corner of the community.  No two houses are alike and so averages are just that. They put all properties together and average all the activity for that period of time.  Your individual sale will mirror the strategies and techniques your real estate professional uses to gather people to your property through the internet marketing and then to secure a good deal that will deliver a secure and completed transaction as smoothly as possible.

Single Family Sold Listings: 73    Avg. Liv.Area SqFt: 3,152.67     Avg. List$: $1,379,337    Avg. List$/SqFt: $434     Avg. DOM: 68.36     Avg. DTO: 44.37    Avg. Sale$: $1,328,504   Avg. Sale$/SqFt: $422

Not all property prices will be in a range where Buyers are willing to pay.  There are statistics that demonstrate if your property is not being reviewed by 20 people a month and you have an offer in that period of time than you are overpriced in the 5% range.  This number goes up if people are not coming to your property.  Being an overpriced property, even in a busy Seller's market will not get your property sold. People understand value and will not overpay for something, they will wait.  When your property gets long on the market and you have not adjusted the price get comfortable you will have a long wait.

Single Family Expired Listings: 23    Avg. Liv.Area SqFt: 3,571.48     Avg. List$: $1,485,553    Avg. List$/SqFt: $425     Avg. DOM: 121.39

Single Family Canceled Listings: 18    Avg. Liv.Area SqFt: 3,272.17     Avg. List$: $1,205,533    Avg. List$/SqFt: $382     Avg. DOM: 100.17

If you have any questions about this report don't hesitate to make a comment or to give us a call. This has been the Newton MA Single Family Housing Report April 2016