Wednesday, April 24, 2013
Low inventory is likely to blame for the drop in home sales.
Newton’s single-family home sales took a bit of a tumble in March, which The Warren Group blamed on “shrinking inventory," that is “depressing sales volume." Mirroring a similar trend for the Commonwealth, single-family home sales in Newton dropped from 31 in March 2012 to 27 in March 2013, or a dip of just under 13 percent. So far this year, Newton has seen 81 homes sold – compared to 105 in 2012, according to The Warren Group, which publishes Banker & Tradesman. Statewide, March 2013 home sales dropped more than 3.5 percent compared to sales in March 2012. "Low inventory is plaguing housing markets all over the country, and Massachusetts is no exception," said David Harris, editorial director at The Warren Group. "With mortgage rates low…
Wednesday, February 27, 2013
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 …
Wednesday, January 2, 2013
Figures are through the first 11 months of the year.
With a month to go in 2012, figures show that single-family home sales have increased in Newton by 15.6 percent over the same 11 month period in 2011, according to statistics gathered by the Warren Group, the Boston-based real estate and banking information publishers for New England. By the end of November, 631 single family homes were sold in Newton, 85 more than those sold by the end of November 2011. According to the press release, Massachusetts home sales rose 38 percent in November. This is the largest year-over-year percentage increase in 2012 and the 11th consecutive month of gains. While sales soared, median prices for single family homes in Newton have stayed relatively stable, increasing from $752,000 in 2011 to $780,000 in …
Marie Presti
9:36 am on Tuesday, March 5, 2013
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… more ›