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Newton Among Most Expensive Housing Markets in the State, Country

Newton is in the top 50 of nearly 2,500 U.S. communities, but just missed the top 10 for priciest communities in Massachusetts.

Sit down before hearing this news. It's official: Homes in Newton are expensive. 

In fact, their average cost is the 11th most expensive in the state of Massachusetts and among the top 50 most expensive in the entire country.

In this year's edition of Coldwell Banker's national Home Listing Report, released Thursday, Nov. 29, the average price of a four bedroom, two bath home in the U.S. is listed at $292,152.

When it comes to Newton, however, that price jumps $761,738, which makes it the 11th most expensive home market in the Commonwealth and the 49th most expensive in the country.

This year’s report analyzes more than 72,000 home listings in more than 2,500 U.S. markets, comparing the listing prices of similar homes in markets across the country from January 2012 to June 2012, according to Coldwell Banker.

But Newton is hardly the most expensive home market in the Bay State. A four bedroom, two bath home in Weston has reached seven figures, now selling on average for $1,105,692. That places Weston as the country's 14th most costly single-family market.

Aside from Weston, there are nine other Massachusetts communities more pricey than Newton, including Wellesley, Dover, Lexington, Hingham, Marblehead, Needham, Concord, Winchester and Belmont.

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During Monday night's tax classification hearing, Director of Assessment Administration Elizabeth Dromey said the median sale price of Newton homes in 2011 was $760,000 and $800,000 in 2012 (through Aug. 31, 2012). The average sale price in 2011 was $919,210.

In calendar year 2011, 94 percent of the homes sold in Newton went for $400,000 or more. Around 70 percent sold for $600,000 or more and 32 percent went for $1 million or more, Dromey said.

Adam Maleson December 08, 2012 at 10:02 AM
The byline on this article should read "by Captain Obvious". Newton is the top of the economic foodchain. In community terms, Newton is the Occupy Wallstreet credo's "1%" of Massachusetts towns. Newton needs to face facts. Newton is not affordable for anyone who is not a billionaire CEO of a company. And Newton had the nerve to seek state reimbursement for the Most Expensive Public School in Massachusetts. Stop griping about the immoral greedy "1%er" bankers on Wall Street, while you accept moneys from every other community in Massachusetts to pay for your exorbitant North High School. Because YOU are the greedy immoral 1% in this situation. Take a good hard real look around the Commonwealth of Massachusetts, and ask yourself what kind of a neighbor are we to the rest of the state? Ask yourself whether all the poorer communities have good reason to resent Newton Massachusetts, getting state aid for the extravagant "Taj Mahigh".
Jim K. March 22, 2013 at 07:42 PM
Im not surprised. I've lived in the Boston MetroWest for a while, both in Wellesley and Newton MA. The real estate in these areas is beautiful. I saw another post earlier that had the most expensive home in Newton at just below $6 million. Wow! My past broker was pretty helpful: http://www.teriadler.com/real-estate-newton-ma/

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