Real Estate Sales Statistics for Newton and Greater Boston Communities

June 6, 2011

The Boston and Greater Boston real estate markets continue to charge on! Depending on your price point, the market is hot – for others, it’s not.

As you can see (below) the Boston market and Middlessex county are both doing better than a year ago.  Although we are seeing substantially fewer transactions (Newton for example is down 19% when comparing Q1 2010 to Q1 2011), homes continue to sell.  Here’s the catch, location counts and features are critical.  If you don’t have one, or both of these, you may find yourself waiting to sell.  Although there is not general rule of tumb, it’s important to compare your property to the competition’s and offer more – for a better price.

Each price point demands different features and buyer expectations can vary, so feel free to call or email me if you’d like a no charge evaluation.  The payoff to being prepared will net you more and leave your competition wondering why the buy choose your home over theirs.

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2011 (M)	Average Sale Price 2010 (M)
Boston	9%	1892	362	$539	$488
Middlesex County	5%	5193	951	$440	$418
Andover	-4%	164	22	$483	$502
Allston	18%	32	7	$334	$274
Arlington	-1%	126	31	$464	$470
Bedford	-1%	56	8	$542	$550
Belmont	15%	81	18	$724	$618
Billerica	-8%	125	20	$292	$314
Brookline	8%	239	53	$712	$656
Brighton	-17%	106	20	$276	$324
Burlington	-1%	79	12	$403	$407
Cambridge	12%	293	60	$574	$506
Concord	-27%	101	15	$649	$821
Lexington	-3%	151	35	$798	$818
Lincoln	-45%	37	5	$873	$1,269
Natick	10%	144	33	$440	$397
Needham	-3%	130	33	$748	$770
Newton	11%	298	56	$790	$703
Somerville	8%	177	29	$397	$366
Sudbury	1%	127	16	$644	$637
Waltham	-2%	166	38	$363	$369
Watertown	4%	80	18	$370	$354
Wayland	-5%	105	13	$581	$610
Wellesley	19%	125	27	$1,319	$1,070
Weston	26%	88	9	$1,942	$1,442
West Roxbury	6%	189	16	$417	$392

 

Newton & Greater Boston Real Estate Statistics (through 4-8-11)

April 20, 2011

So, here are the current (to April 8, 2011) real estate statistics for Newton, Brookline, Waltham, Watertown and most of Greater Boston.  Please share your comments and forward this info. to anyone you think may appreciate it …

As always, please email or call me anytime with questions.

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2010 (M)	Average Sale Price 2009 (M)
Boston	10%	1652	250	$563	$509
Middlesex County	7%	3895	689	$434	$404
Andover	7%	114	17	$494	$461
Allston	6%	22	6	$320	$300
Arlington	1%	98	22	$452	$446
Bedford	3%	27	7	$530	$512
Belmont	19%	69	10	$743	$602
Billerica	-6%	97	15	$298	$315
Brookline	11%	207	29	$721	$644
Brighton	-7%	89	18	$281	$302
Burlington	-9%	46	10	$379	$414
Cambridge	1%	282	39	$635	$630
Concord	-10%	79	13	$746	$821
Lexington	3%	97	21	$821	$795
Lincoln	-2%	16	4	$826	$843
Natick	3%	117	25	$430	$418
Needham	1%	102	14	$736	$728
Newton	17%	282	38	$832	$692
Somerville	6%	134	20	$393	$370
Sudbury	-12%	80	8	$597	$671
Waltham	-2%	119	24	$338	$345
Watertown	3%	71	18	$364	$353
Wayland	-3%	67	9	$532	$549
Wellesley	4%	127	19	$1,198	$1,145
Weston	49%	71	7	$2,428	$1,249
West Roxbury	13%	90	9	$380	$332

 

Spring Traditions
Provided by Coldwell Banker Residential Brokerage & Mike Hughes

We all have our favorite harbingers of spring; later sunsets, the Groundhog Day ceremony, and for millions of families, spring break. Whether one has children or not, spring vacation is a tremendous respite and a much welcomed tradition for those who have endured a harsh winter.

If you have spring break plans, here are several tips to keep your home and property safe while escaping to more exciting locales and hopefully balmier climes. Ask a neighbor to collect your mail or have your mail held for you at the post office. Install light timers, which you can purchase at most hardware stores, throughout your home. Lock away important valuables, documents, and medications in a safe or a safety deposit box. Don’t forget to secure all windows and doors before you leave.

For those of you selling your home, be sure to leave it sparkling clean and fresh in the event of a scheduled showing while you’re away. It’s true that historically home sales tend to slow during the frosty months, particularly during those unforgiving winters. For serious home buyers, however, no amount of snow or icy conditions can keep them at bay.

The month of December is a perfect example. One would expect that with stormy weather and the approaching holidays, home buyers would have been few and reluctant to move. However, existing-home sales rose 12.3 percent to a seasonally adjusted annual rate of 5.28 million in December 2010, when sales increased for the fifth time in six months, according to the National Association of REALTORS®.

Of course real estate is very local. Regardless of seasonal trends, one community may show signs of slowing sales activity, while another may experience an increase for various reasons. Enjoy your spring break, it was well earned!

 

Newton, MA Real Estate Statistics & Trends

February 25, 2011

The below graph is a basic representation of the current real estate market trends in Newton, MA.  This graph is updated daily with the most current available information.  As you know, each neighborhood and property requires specific analysis when considering price.  Please always feel free to call or email me if you, or someone you know, have any real estate questions or needs.

Have a great weekend,
Mike

 

Newton, MA & Greater Boston Real Estate Statistics

February 16, 2011

The numbers are in … and inventories continue to remain low!  The below data is for the last three months – please be sure to let me know if you have any questions.  (This information is based on a rolling quarter with combined data for single family homes and condominiums.)

As you would expect, each property and neighborhood deserves individual analysis.  As you prepare to buy or sell this spring, please call me so that we can discuss your situation and pricing specific to your area.

Real estate markets like Newton and Brookline continue to see strong sales and low inventories … buyers are eager to find their new homes before rates increase and the summer months come – email or call me anytime with questions – now is a great time to sell!

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2010 (M)	Average Sale Price 2009 (M)
Boston	19%	815	298	$599	$488
Middlesex County	6%	1954	815	$444	$416
Andover	6%	53	25	$503	$474
Allston	2%	7	4	$286	$280
Arlington	5%	38	34	$465	$442
Bedford	-7%	13	7	$508	$543
Belmont	-4%	27	17	$613	$639
Billerica	7%	45	23	$316	$293
Brookline	1%	66	37	$726	$721
Brighton	0%	34	17	$301	$301
Burlington	-10%	22	12	$356	$391
Cambridge	7%	99	55	$669	$624
Concord	9%	32	18	$795	$727
Lexington	7%	27	22	$799	$747
Lincoln	4%	7	3	$791	$761
Natick	-5%	52	32	$415	$436
Needham	2%	39	20	$846	$827
Newton	5%	94	53	$774	$739
Somerville	17%	55	21	$430	$355
Sudbury	-2%	30	14	$616	$628
Waltham	-5%	53	26	$340	$357
Watertown	2%	51	19	$379	$372
Wayland	32%	15	6	$720	$490
Wellesley	-5%	43	23	$1,046	$1,096
Weston	18%	29	7	$1,411	$1,161
West Roxbury	0%	32	14	$361	$360

Year End Real Estate Values for Newton, MA and Surrounding Areas

January 11, 2011

Happy New Year!

Inventory is low, prices are relatively strong and interest rates remain at historic lows. New inventory is quickly coming on the market, so I expect the absorbtion rate to increase. Today, I have just returned from our company broker open house tour. Many beautiful new homes and condominiums have just been listed for sale in Newton and Brookline … despite the weather and anticipated storm, the spring market is starting to announce itself.

Let me know if you would like to have this information automatically emailed to you each month. Also for a specific report relavent to your home or neighborhood, simply email or call me anytime.

Keep in touch,
Mike

Below is data based on a rolling 3 month quarter for the period ending 1/7/11. All data is taken directly form the Multiple Listing Service (MLSPIN).

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2010 (M)	Average Sale Price 2009 (M)
Boston	19%	776	304	$581	$471
Middlesex County	7%	2228	887	$439	$407
Andover	9%	59	28	$500	$457
Allston	7%	8	4	$269	$250
Arlington	9%	46	37	$470	$429
Bedford	-10%	12	8	$511	$562
Belmont	2%	28	17	$661	$651
Billerica	12%	53	27	$320	$283
Brookline	0%	66	38	$701	$702
Brighton	-7%	25	16	$284	$303
Burlington	-4%	29	14	$373	$387
Cambridge	5%	93	54	$645	$615
Concord	10%	26	15	$786	$707
Lexington	1%	40	23	$715	$711
Lincoln	-8%	8	3	$786	$851
Natick	3%	53	30	$430	$417
Needham	-11%	35	22	$725	$803
Newton	2%	85	56	$739	$726
Somerville	9%	62	23	$407	$372
Sudbury	15%	37	21	$701	$597
Waltham	-3%	74	29	$359	$368
Watertown	5%	49	18	$377	$359
Wayland	25%	21	11	$655	$493
Wellesley	1%	52	22	$1,095	$1,081
Weston	14%	32	9	$1,261	$1,090
West Roxbury	13%	37	18	$400	$347

Impact of Rising Rates When Buying a Home

December 15, 2010

There has been much volatility in the 30 year mortgage rate over the last few weeks. According to Freddie Mac, rates have soared almost a half of a percent in just the last four weeks and now are as high as they have

(Click to view the original BLOG entry for a great explaination of how an increase interest rates reduces buying power and potential sale prices)

Impact of Rising Rates When Buying a Home.

Greater Boston Real Estate Market – Monthly Review

December 7, 2010

“So how’s the market?”  That’s the question I expect to hear a few hundred times during this holiday season.  As you can see from the below numbers, it continues to be a difficult question to answer because it depends largely on the individual’s circumstance – are you planning to buy, sell, invest or rent?  And of course location will always play an important role.

In a nutshell, the market is reasonably stable and the numbers continue to look good.  Boston proper is strong and up … on average the towns listed below are only off the 2005/ 2006 high by about 5.5%.  Interest rates are still at historic lows and inventories are relatively low (expected to jump in mid-Jan. due to the spring market).

I will be tracking afford-ability closely.  Knowing that most people budget on a monthly basis, an increase in interest rates with continued market recovery will quickly bring the afford-ability level to the same seen in 2005/2006.

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2010 (M)	Average Sale Price 2009 (M)
Boston	18%	1188	283	$549	$449
Middlesex County	7%	3125	879	$434	$403
Andover	16%	73	27	$538	$452
Allston	-3%	19	3	$228	$235
Arlington	10%	73	33	$470	$421
Bedford	-7%	29	9	$549	$589
Belmont	1%	40	15	$652	$647
Billerica	5%	74	26	$314	$298
Brookline	6%	125	33	$756	$709
Brighton	-4%	56	14	$306	$317
Burlington	6%	45	14	$418	$394
Cambridge	-2%	160	47	$601	$616
Concord	10%	64	14	$778	$701
Lexington	-4%	74	26	$649	$677
Lincoln	7%	19	2	$949	$887
Natick	8%	61	24	$447	$413
Needham	-3%	60	25	$725	$749
Newton	5%	156	53	$743	$707
Somerville	8%	84	28	$426	$394
Sudbury	16%	68	18	$703	$593
Waltham	0%	124	31	$367	$368
Watertown	8%	78	15	$382	$352
Wayland	21%	47	12	$672	$528
Wellesley	-8%	92	19	$944	$1,024
Weston	7%	60	9	$1,277	$1,186
West Roxbury	14%	60	19	$397	$342

October Sales Statistics Update for Newton, Brookline, Waltham, Watertown & Surrounding Communities

November 11, 2010

Here are the latest numbers for the areas that I regularly cover.  Please feel free to call or email me anytime with questions.  Please note, all of the data is based on the sum average of condominiums AND single family properties, so your individual property / neighborhood information may vary.

Towns / Location	Year Over Year % Change	Units Listed	Units Selling Each Month	Average Sale Price 2010 (M)	Average Sale Price 2009 (M)
Boston	16%	1387	333	$521	$438
Middlesex County	7%	3661	983	$441	$412
Andover	13%	91	30	$564	$492
Allston	-13%	26	7	$244	$275
Arlington	13%	91	36	$477	$413
Bedford	-13%	33	9	$560	$631
Belmont	10%	39	15	$677	$611
Billerica	4%	99	26	$311	$300
Brookline	-1%	161	39	$722	$729
Brighton	2%	69	20	$311	$305
Burlington	9%	51	13	$434	$397
Cambridge	0%	207	63	$576	$576
Concord	9%	84	14	$846	$774
Lexington	3%	88	31	$701	$679
Lincoln	11%	20	4	$958	$849
Natick	0%	73	29	$419	$419
Needham	2%	84	29	$727	$712
Newton	4%	207	58	$741	$711
Somerville	5%	98	34	$394	$373
Sudbury	13%	81	22	$703	$609
Waltham	2%	138	42	$368	$362
Watertown	15%	89	14	$421	$358
Wayland	5%	53	15	$587	$560
Wellesley	-6%	115	23	$915	$968
Weston	-2%	63	11	$1,245	$1,269
West Roxbury	11%	64	22	$386	$344

Greater Boston Real Estate Market Update (October 2010)

October 15, 2010

Greetings,

I apologize for compiling these numbers so late in the month – thanks for your patience.

One of the most notable points is that Boston has increased approximately 14% since this time last year (and 15% since 2006).

Other notable cities include: Newton, MA which is up 3% since the peak and 7% compared to last year.  Brookline, MA is up 7% since 2006 and 5% compared to last year.  Other areas, such as, Waltham, Weston and Wellesley are still working to improve. I expect that towns with lower price points like Waltham will continue a gentle increase while higher priced areas will continue to complete with other expensive locales which offer easier access to Boston, Cambridge and similar business centers.

About this data: All averages include combined data for single family and condominium sales.  All data is taken from the multiple listing service (MLSPIN) – 2006 data includes all sales for the entire year. You’ll notice that I use 2006 as the peak of the market (for data comparison).  The reason for this is based on the idea that the average sale price in 2005 and 2006 was virtually the same; further, many of the contracts that closed in the early part of 2006 were a result of accepted/ negotiated offers in October, November and December of 2005.

When updating the information, data is compiled using a “rolling quarter.” For example, new October numbers include sales for September, August, July. This allows for a broad enough sample to capture market trends while preventing spikes which sometimes result from unusual sales.

It is important to reiterate the fact that these are averages. Consequently, great single family sales may give the illusion that all prices are strong (i.e. condo prices) – some market segments may in fact be stagnant or slumping.

Please call or email me with any question or concerns. Definitely call or email if you would like me to look at your specific market segment. As you can see, seller’s in Brighton and Allston are experiencing two very different markets.

Thanks for checking in … please share this information with someone you know who may find it useful or interesting.

Newton Housing Market & Real Estate Activity

September 14, 2010

Well, the fall real estate market has begun in Newton and Brookline. Today was amazing, our office tour included nearly 20 great single family homes and condos in Newton and Brookline. With relatively low inventories and amazing interest rates, these sellers are smart to take action now rather than risk the unknown realities of 2011.

This much needed group of properties included everything from a condo in Upper Falls just below $375K to a magnificent estate for around $3 million West Newton Hill.

Please let me know if you have any questions about today’s market and / or what you may buy or sell for in today’s market. (Good things are happening for informed people.)

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