Newton Center 02459 Single Family House Market Update

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Newton MA Houses for Sale report. This report is created for:

- Home sellers in Newton MA
- Home owners in Newton MA 02459 following the market
- Home buyers
- Anyone interested in following the Greater Boston real estate market.

Housing inventory is exceptionally low due to the season, but with demand still strong, the market is biased in favor of home sellers.

You will find the overall trend in recent years as well as a look of what is happening this past week.

For more Boston area real estate market reports, go to http://www.ruthmalkinlerner.com/boston-housing-market/

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Newton Center 02459 Single Family House Market Update

  1. 1. Ruth Lerner's MARKET UPDATE NEWTON CENTER, MA 02459 · Current Real Estate Market Conditions for Single Family Homes · Trends in Pricing · Current Levels of Supply and Demand · Value Metrics · Report for the week of January 13, 2014 · Presented by RUTH LERNER - EXCEPTIONAL REAL ESTATE SERVICE William Raveis Ruth.Lerner@Raveis.com (617) 807-0471 Powered by Altos Research LLC | www.altosresearch.com | Copyright ©2005-2013 Altos Research LLC
  2. 2. Neighborhood Detail Single Family Homes in NEWTON CENTER, MA 02459 Ruth Lerner | RuthMalkinLerner.com | (617) 807-0471 This Week Real-Time Market Profile The median list price in NEWTON CENTER, MA 02459 this week is $1,017,000. The 16 properties have been on the market for an average of 69 days. Trend Median List Price $ 1,017,000 Average List Price ≠≠ $ 1,190,319 $ 380 ≠≠ Average Days on Market (DoM) 69 == Inventory of Properties Listed 16 ≠≠ Asking Price Per Square Foot Most Expensive Listing Inventory has been lightening lately and the Market Action Index has been trending up. Though days-on-market is increasing, these are mildly positive indications for the market. $ 2,650,000 Least Expensive Listing $ 548,200 Average Age of Listing 46 Percent of Properties with Price Decrease 19 % Percent Relisted (reset DOM) 0% Percent Flip (price increased) 0% Median House Size (sq ft) 2645 Median Lot Size 0.25 - 0.50 acre Median Number of Bedrooms Median Number of Bathrooms Supply and Demand 4.0 3.5 Altos Research Value Statistics Home sales have been exceeding new inventory for several weeks. However prices have not yet stopped falling. Since the market is already in the Seller's zone, expect prices to level off very soon. Should the sales trend continue expect that prices could climb from there. Market Action Index Strong Seller's 46.9 == The Market Action Index answers the question "How's the Market?" by measuring the current rate of sale versus the amount of the inventory. Index above 30 implies a seller's advantage. Below 30, conditions give the advantage to the buyer. Trend Key: ±+ == Strong upward trend ≠≠ Strong downward trend = Slight upward trend ≠ Slight downward trend No change Characteristics per Quartile Quartile Median Price Sq. Ft. Lot Size Beds Baths Age Inventory New Absorbed DOM Top/First $ 1,874,500 5230 0.25 - 0.50 acre 5.0 5.5 2 4 0 1 84 Most expensive 25% of properties Upper/Second $ 1,274,000 3854 0.25 - 0.50 acre 4.0 3.5 10 4 2 1 32 Upper-middle 25% of properties Lower/Third $ 894,000 2345 8,001 10,000 sqft 3.5 2.5 84 4 2 1 24 Lower-middle 25% of properties Bottom/Fourth $ 599,950 1620 Less than 4,500 sqft 3.0 2.0 104 4 0 1 135 Page 2 of 6 Monday January 13, 2014 Least expensive 25% of properties
  3. 3. Single Family Homes in Neighborhood Detail NEWTON CENTER, MA 02459 Ruth Lerner | RuthMalkinLerner.com | (617) 807-0471 Median Price While this week the median price in this zip code didn't fluctuate much, we continue to sit at all time high prices. Watch for persistent downward shift in the Market Action Index into the Buyer's zone as a leading indicator of the price strength subsiding. 7-day Average 90-day Average Quartile Prices In the quartile market segments, we see the market's price weakness evident across the board. All four quartiles have been in price decline in recent weeks. Look to the Market Action Index as a leading indicator of the bottom of the market. First/Top Page 3 of 6 Second/Upper Third/Lower Monday January 13, 2014 Fourth/Bottom
  4. 4. Single Family Homes in Neighborhood Detail NEWTON CENTER, MA 02459 Ruth Lerner | RuthMalkinLerner.com | (617) 807-0471 Price per Square Foot This is a market where watching the value metrics (like price per square foot) can provide insight that you don't get at first glance. Despite the fact that home prices are rising fairly consistently, the price per square foot of homes listed is declining. Often this can be attributed to new and remodeled homes on the market. Buyers in the area are paying more but also getting more for their money. 7-day Average 90-day Average Inventory of Properties Listed for Sale Inventory has been falling in recent weeks. Note that declining inventory alone does not signal a strengthening market. Look to the Market Action Index and Days on Market trends to gauge whether buyer interest is changing with the available supply. 7-day Average Page 4 of 6 90-day Average Monday January 13, 2014
  5. 5. Single Family Homes in Neighborhood Detail NEWTON CENTER, MA 02459 Ruth Lerner | RuthMalkinLerner.com | (617) 807-0471 Market Action Index The NEWTON CENTER, 02459 market is currently quite strongly in the Seller's Advantage zone (greater than 30). The 90-day Market Action Index stands at 46.91; indicating very little supply relative to the demand. 90-day Average Buyers/Sellers Cutoff Market Action Index per Quartile Not surprisingly, all segments in this zip code are showing high levels of demand. Watch the quartiles for changes before the whole market changes. Often one end of the market (e.g. the high-end) will weaken before the rest of the market and signal a slowdown for the whole group. First/Top Second/Upper Third/Lower Fourth/Bottom Buyers/Sellers Cutoff Residential house prices are a function of supply and demand, and market conditions can be characterized by analyzing those factors. Watch this index for sustained changes: if the index falls into the Buyer’s Advantage zone (below 30) for a long period, prices are likely in for a downward correction. Page 5 of 6 Monday January 13, 2014
  6. 6. Single Family Homes in Neighborhood Detail NEWTON CENTER, MA 02459 Ruth Lerner | RuthMalkinLerner.com | (617) 807-0471 Days on Market The properties have been on the market for an average of 69 days. Half of the listings have come newly on the market in the past 63 or so days. 7-day Average 90-day Average Days on Market per Quartile It is not uncommon for the higher priced homes in an area to take longer to sell than those in the lower quartiles. First/Top Page 6 of 6 Second/Upper Third/Lower Monday January 13, 2014 Fourth/Bottom

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