Newton Real Estate by Zip Code

Since Newton is so large and the villages quite diverse, I’m eager to share how Newton real estate performs village-by-village. As a whole, we have sold roughly the same amount of inventory as this time last year, 142 vs.144. The average sale price is up 3.4%, but the average price per square foot is down to $423 from 426.

The highest sale price so far this year is $3,600,000 and the lowest is $450,000. The average sale price is $1,340,000!

On a square footage basis, Newtonville surprisingly sells for the lowest price per square foot, averaging $398. Not surprisingly, Chestnut Hill garnered the highest this year with about $517.00 a square foot. This top-end fluctuates between West Newton Hill, Waban and Chestnut Hill. The cost of housing from village to village has tightened in the past 5 years. Quite simply, most of Newton is unaffordable to the average home buyer, especially a first-time buyer. Sadly, we do not know what Newton will be like in 5-10 years, but it will most likely lose its diversity.

Newton by the numbers (and zip codes):

Newton Corner, Farlow Hill, Hunnewell Hill, and Nonantum

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 11 6 -5 -45.45%
Average Days on Market 52 66 14 26.92%
Average Days to Offer 27 36 9 33.33%
Average Sale Price $1,316,136.36 $2,173,083.33 $856,946.97 65.11%
Average Sale $ / SqFt $408.32 $434.79 $26.47 6.48%
Average List Price $1,342,454.45 $2,255,833.17 $913,378.72 68.04%
Average List $ / SqFt $409.44 $446.18 $36.74 8.97%
Average Original List Price $1,342,454.45 $2,258,333.17 $915,878.72 68.22%
Average Original List $ / SqFt $409.44 $447.82 $38.38 9.37%
Average Sale Price as % of List Price 99.79% 97.53% -2.26% -2.26%
Average Sale Price as % of Original List Price 99.79% 97.11% -2.68% -2.69%

Newton Center to South of Rte. 9

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 39 44 5 12.82%
Average Days on Market 54 88 34 62.96%
Average Days to Offer 32 59 27 84.38%
Average Sale Price $1,446,743.59 $1,403,367.45 -$43,376.14 -3%
Average Sale $ / SqFt $429.55 $416.78 -$12.77 -2.97%
Average List Price $1,474,322.77 $1,419,649.73 -$54,673.04 -3.71%
Average List $ / SqFt $430.87 $417.00 -$13.87 -3.22%
Average Original List Price $1,491,323.08 $1,442,034.09 -$49,288.99 -3.31%
Average Original List $ / SqFt $435.81 $425.24 -$10.57 -2.43%
Average Sale Price as % of List Price 100.03% 99.86% -0.17% -0.17%
Average Sale Price as % of Original List Price 98.84% 98.08% -0.76% -0.77%

Newtonville

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 7 17 10 142.86%
Average Days on Market 50 35 -15 -30%
Average Days to Offer 43 30 -13 -30.23%
Average Sale Price $1,148,125.00 $1,141,850.06 -$6,274.94 -0.55%
Average Sale $ / SqFt $385.80 $398.99 $13.19 3.42%
Average List Price $1,148,785.71 $1,137,252.94 -$11,532.77 -1%
Average List $ / SqFt $384.95 $388.55 $3.60 0.94%
Average Original List Price $1,166,071.43 $1,160,494.12 -$5,577.31 -0.48%
Average Original List $ / SqFt $391.57 $395.38 $3.81 0.97%
Average Sale Price as % of List Price 99.97% 101.82% 1.85% 1.85%
Average Sale Price as % of Original List Price 98.20% 99.92% 1.72% 1.75%

Newton Highlands

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 9 16 7 77.78%
Average Days on Market 33 35 2 6.06%
Average Days to Offer 22 28 6 27.27%
Average Sale Price $1,046,611.11 $980,606.25 -$66,004.86 -6.31%
Average Sale $ / SqFt $396.88 $431.70 $34.82 8.77%
Average List Price $1,055,755.56 $960,737.50 -$95,018.06 -9%
Average List $ / SqFt $396.68 $417.21 $20.53 5.18%
Average Original List Price $1,057,977.78 $966,112.50 -$91,865.28 -8.68%
Average Original List $ / SqFt $397.70 $419.27 $21.57 5.42%
Average Sale Price as % of List Price 99.57% 103.79% 4.22% 4.24%
Average Sale Price as % of Original List Price 99.32% 103.34% 4.02% 4.05%

Newton Lower Falls

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 3 4 1 33.33%
Average Days on Market 83 21 -62 -74.70%
Average Days to Offer 72 13 -59 -81.94%
Average Sale Price $1,116,666.67 $831,000.00 -$285,666.67 -25.58%
Average Sale $ / SqFt $389.22 $444.25 $55.03 14.14%
Average List Price $1,186,000.00 $784,250.00 -$401,750.00 -33.87%
Average List $ / SqFt $422.21 $416.51 -$5.70 -1.35%
Average Original List Price $1,202,666.67 $791,750.00 -$410,916.67 -34.17%
Average Original List $ / SqFt $433.52 $422.06 -$11.46 -2.64%
Average Sale Price as % of List Price 92.23% 106.40% 14.17% 15.36%
Average Sale Price as % of Original List Price 90.16% 105.24% 15.08% 16.73%

Newton Upper Falls

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 2 2 0 0%
Average Days on Market 111 52 -59 -53.15%
Average Days to Offer 73 45 -28 -38.36%
Average Sale Price $680,000.00 $732,750.00 $52,750.00 7.76%
Average Sale $ / SqFt $358.89 $476.34 $117.45 32.73%
Average List Price $712,450.00 $712,000.00 -$450.00 -0.06%
Average List $ / SqFt $373.78 $464.23 $90.45 24.20%
Average Original List Price $766,950.00 $714,000.00 -$52,950.00 -6.90%
Average Original List $ / SqFt $403.50 $465.70 $62.20 15.42%
Average Sale Price as % of List Price 95.56% 102.86% 7.30% 7.64%
Average Sale Price as % of Original List Price 88.71% 102.57% 13.86% 15.62%

West Newton

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 27 21 -6 -22.22%
Average Days on Market 56 54 -2 -3.57%
Average Days to Offer 32 41 9 28.13%
Average Sale Price $1,142,264.81 $1,366,632.29 $224,367.48 19.64%
Average Sale $ / SqFt $414.45 $426.19 $11.74 2.83%
Average List Price $1,168,440.70 $1,394,095.24 $225,654.54 19.31%
Average List $ / SqFt $419.30 $431.10 $11.80 2.81%
Average Original List Price $1,209,066.63 $1,474,428.57 $265,361.94 21.95%
Average Original List $ / SqFt $430.74 $451.47 $20.73 4.81%
Average Sale Price as % of List Price 99.16% 98.65% -0.51% -0.51%
Average Sale Price as % of Original List Price 97.83% 95.06% -2.77% -2.83%

Auburndale

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 9 9 0 0%
Average Days on Market 53 57 4 7.55%
Average Days to Offer 47 45 -2 -4.26%
Average Sale Price $778,055.56 $961,257.56 $183,202.00 23.55%
Average Sale $ / SqFt $419.24 $443.73 $24.49 5.84%
Average List Price $771,211.11 $920,766.67 $149,555.56 19.39%
Average List $ / SqFt $411.51 $421.92 $10.41 2.53%
Average Original List Price $796,766.67 $944,988.89 $148,222.22 18.60%
Average Original List $ / SqFt $428.55 $431.88 $3.33 0.78%
Average Sale Price as % of List Price 102.16% 106.03% 3.87% 3.79%
Average Sale Price as % of Original List Price 98.91% 103.72% 4.81% 4.86%

Chestnut Hill

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 32 30 -2 -6.25%
Average Days on Market 93 76 -17 -18.28%
Average Days to Offer 68 48 -20 -29.41%
Average Sale Price $1,738,859.41 $1,884,895.83 $146,036.42 8.40%
Average Sale $ / SqFt $448.47 $517.70 $69.23 15.44%
Average List Price $1,830,587.50 $1,917,766.63 $87,179.13 4.76%
Average List $ / SqFt $459.94 $522.04 $62.10 13.50%
Average Original List Price $1,880,118.38 $1,978,523.23 $98,404.85 5.23%
Average Original List $ / SqFt $467.91 $538.84 $70.93 15.16%
Average Sale Price as % of List Price 98.17% 99.68% 1.51% 1.54%
Average Sale Price as % of Original List Price 96.71% 97.34% 0.63% 0.65%

Waban

Sold (Year to Date) 2016 2017 Var. Var. %
Closed Units (Sold) 25 15 -10 -40%
Average Days on Market 83 84 1 1.20%
Average Days to Offer 52 59 7 13.46%
Average Sale Price $1,621,609.20 $1,852,483.33 $230,874.13 14.24%
Average Sale $ / SqFt $457.65 $443.10 -$14.55 -3.18%
Average List Price $1,655,708.00 $1,922,733.33 $267,025.33 16.13%
Average List $ / SqFt $460.60 $456.47 -$4.13 -0.90%
Average Original List Price $1,713,708.00 $2,056,333.33 $342,625.33 19.99%
Average Original List $ / SqFt $471.91 $480.16 $8.25 1.75%
Average Sale Price as % of List Price 99.25% 97.04% -2.21% -2.23%
Average Sale Price as % of Original List Price 96.98% 92.76% -4.22% -4.35%

When pricing a house for sale, I take many factors into consideration. Location is still key, along with the condition of the home. If you have a fantastic house in a fantastic location, the house should sell at a high asking price. However, if the house is on a busy street and doesn’t have a garage, there is a deduction. If you have a beautiful house but the floor plan doesn’t function for today; a deduction, but if the house has flaws and a magnificent, unique backyard, well that’s an addition. Pricing a home is an art, unfortunately not a science. These are the tools a Realtor uses (along with experience) to price a house.

And I can’t stress this enough – if your house is not selling in this market within a few weeks, I urge you to look at your price. Some of the variables used to determine if the price is off: small yard, no garage, too few bedrooms, over-improved for the neighborhood, an obsolete floor plan. Remember, price melts objections.

This guest post contributed by:

Margaret Szerlip

Compass

Email:  margaret@compass.com Mobile:  617.921.6860

Copyright © 2017 · All Rights Reserved · LiveNewton.net

Author: Margaret Szerlip

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