Newton January Home Sales Drop 46 Percent

Meanwhile, Massachusetts saw the highest January home sale numbers in five years.

Although Massachusetts January home sales are at the highest level in five years, the Newton real estate market had a slow start to 2013.

Newton's home sales dropped by more than 46 percent in January 2013 compared to January 2012, according to statistics released by The Warren Group, the Boston-based real estate and banking information publishers for New England.

At the end of January 2013, Newton had a total of 22 single-family home sales, a drop from the 41 home sales recorded in January 2012.

Last month's single-family median sale price in Newton also dropped compared to what it was a year earlier. According to The Warren Group numbers, the January 2013 median sale price came in at $710,001 compared to $737,000 in January 2012, a more than 3.6 percent decrease.

Looking for more local Newton news? Follow us on Facebook and Twitter or sign up for our email newsletters.

January 2013 home sales in Massachusetts were up over January 2012 by 2,436 sales, The Warren Group reported. This is the highest January sales volume for single-family homes in the state since January 2007, when there were 2,953 transactions.

Massachusetts median single-family sale prices also rose by 6.8 percent in January, the report said. 

As for condominium sales, Massachusetts saw deals close on more than 1,000 condos last month, an 11 percent increase over January 2012. This is also the first January since January 2008 where condo sales topped 1,000, the press release said. 

Newton also saw condo sales increase in January 2013; 21 condos sold in January 2013 compared to 16 in January 2012, a 31 percent increase.

While Newton may have had a slow start to 2013, the city saw a 15 percent jump in home sales in 2012 compared to 2011, according to The Warren Group numbers.

Marie Presti March 05, 2013 at 02:19 PM
When someone reads this article they may conclude that the Newton market is dropping. I feel that is furthest from the truth. Your title is extremely misleading. You only take into account the drop in single family home sales in that statement but not the condo sales which increased by a higher percentage than the single families decreased. The Newton market (and all New England) is ALL dependent on the weather. If there is even one snow storm, the open houses get canceled, less people come out for showings, and sellers decide to hold off putting their home on the market. In essence, the start of the spring market is put off that much longer. If most of you will remember, last year we had a very mild winter and there were not a lot of snow storms to prevent people from shopping. Therefore, it never "slowed" like it usually does in January. As a comparison, for the month of January 2011, there were 36 single family homes sold and compared to 2012, there was a 27.8% gain. Most analysts may make the statement that last January was an anomaly and is not a predictor of the 2013 housing market in Newton. As a Real Estate Broker, I can tell you that there have been properties flying off the market within days of coming on when its priced right and in the right condition. I love your articles, Melanie and also am a big fan of the Patch. However, on this one article, the main captain was all wrong.
Marie Presti March 05, 2013 at 02:36 PM
A few more thoughts on the Newton Market and these statistics... When you're looking at a small sample size of closed sales for a particular type of property for a small period of time (one month) as opposed to in aggregate across all of these types across the entire year, you will get statistically inaccurate data. For example, if you look at Wellesley condo sales for January 2013 vs. 2012 there were 3 that sold last month vs. none that sold in 2012. So someone may project that that was a 300% increase year over year. But of course that is not the case because the data is enough over a long enough time to give an accurate reading. Also, Our lack of inventory is probably the only big issue we have right now in that many sellers will read your article and think to "hold off" putting their home on the market when in fact they may be leaving money on the table. Next year with the rates increasing, we may see less buyers than this year and we may see more homes on the market. So you may not get your top dollar next year if there are less buyers and more sellers putting their homes on the market. Low supply now and high demand now means higher prices now.


More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something