Newton Real Estate Market is CRAZY! | Szerlip's Real Estate Blog
Newton Real Estate Market is CRAZY!
OMG its crazy what is happening in the Newton/Brookline real estate market. Brookline prices are now like swanky Boston condos, and Newton prices are now Brookline prices…I have a client who bought a condo at 45 Province in Boston a year ago for around $1,175 a square foot, condos in that building are now selling in the $1,600 a square foot range. I am beginning to think a dog house will cost a 100 grand in Brookline and the insanity continues into Newton.
So what’s selling? pretty much anything priced under 1.4. If it’s cute and staged — it’s sold. Homes between 1.4 and 1.9 are slightly tougher to sell. There are some great deals out there and honestly I don’t understand the rationale behind why a buyer would so over pay for a house that’s adorable but will never be anything more than adorable. Look at the stats I put up below! I took these from MLS, there are 75 homes on the market and there are only 15 under 1 million dollars!
Sellers, the time is now! This is a supply and demand business and there is no supply. Buyers, get yourself a broker (ME) and try not to get caught up in this frenzy. Run some numbers, check what you are paying on a price per square foot basis AND if you do not have the cash to pay for a house DO NOT give up your mortgage contingency. I suspect we will some appraisal issues in the near future. If you are not gutting a house DO NOT give up an inspection contingency. There will ALWAYS be another house.
Report Run: 3/14/2014 10:56:03 AM
Snapshot Date: 03/14/2014
Under $50,000 – –
$450,000 – $499,999 1 42
$500,000 – $599,999 1 2
$600,000 – $699,999 2 4
$700,000 – $799,999 3 8
$800,000 – $899,999 4 110
$900,000 – $999,999 4 69
$1,000,000 – $1,499,999 18 61
$1,500,000 – $1,999,999 15 156
$2,000,000 – $2,499,999 13 137
$2,500,000 – $2,999,999 3 199
$3,000,000 – $3,999,999 8 47
$4,000,000 – $4,999,999 2 153
$5,000,000 – $9,999,999 1 2
Total Properties 75 Avg. 97
Pending Statistics Print this page / E-mail this page / PDF this page
Report Run: 3/14/2014 11:00:21 AM
$400,000 – $449,999 2 1 1 – –
$450,000 – $499,999 4 1 – 2 1
$500,000 – $599,999 9 6 2 1 –
$600,000 – $699,999 9 4 3 2 –
$700,000 – $799,999 15 10 2 3 –
$800,000 – $899,999 13 6 1 4 2
$900,000 – $999,999 13 7 2 3 1
$1,000,000 – $1,499,999 21 11 7 3 –
$1,500,000 – $1,999,999 13 8 3 1 1
$2,000,000 – $2,499,999 3 1 – 1 1
$2,500,000 – $2,999,999 4 2 – 2 –
$4,000,000 – $4,999,999 1 – – – 1
Total Properties 109 59 21 22 7
Lowest Price: $449,000 Median Price: $899,000
Highest Price: $4,200,000 Average Price: $1,224,298
Total Market Volume: $133,448,499
Posted in Boston Top 20, Greater Boston Real Estate, homes for sale in Newton, MA, Listing Agent, Margaret Szerlip, Newton, MA. Homes for sale, Newton, MA. real estate, REAL ESTATE, Sotheby's Realty Newton, sothebys realty, West Newton Hill on March 14, 2014 by Margaret Szerlip. Leave a comment
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Newton Real Estate Market is CRAZY! | Szerlip's Real Estate Blog
Newton Real Estate Market is CRAZY!
OMG its crazy what is happening in the Newton/Brookline real estate market. Brookline prices are now like swanky Boston condos, and Newton prices are now Brookline prices…I have a client who bought a condo at 45 Province in Boston a year ago for around $1,175 a square foot, condos in that building are now selling in the $1,600 a square foot range. I am beginning to think a dog house will cost a 100 grand in Brookline and the insanity continues into Newton.
So what’s selling? pretty much anything priced under 1.4. If it’s cute and staged — it’s sold. Homes between 1.4 and 1.9 are slightly tougher to sell. There are some great deals out there and honestly I don’t understand the rationale behind why a buyer would so over pay for a house that’s adorable but will never be anything more than adorable. Look at the stats I put up below! I took these from MLS, there are 75 homes on the market and there are only 15 under 1 million dollars!
Sellers, the time is now! This is a supply and demand business and there is no supply. Buyers, get yourself a broker (ME) and try not to get caught up in this frenzy. Run some numbers, check what you are paying on a price per square foot basis AND if you do not have the cash to pay for a house DO NOT give up your mortgage contingency. I suspect we will some appraisal issues in the near future. If you are not gutting a house DO NOT give up an inspection contingency. There will ALWAYS be another house.

Report Run: 3/14/2014 10:56:03 AM
Snapshot Date: 03/14/2014
Under $50,000 – –
$450,000 – $499,999 1 42
$500,000 – $599,999 1 2
$600,000 – $699,999 2 4
$700,000 – $799,999 3 8
$800,000 – $899,999 4 110
$900,000 – $999,999 4 69
$1,000,000 – $1,499,999 18 61
$1,500,000 – $1,999,999 15 156
$2,000,000 – $2,499,999 13 137
$2,500,000 – $2,999,999 3 199
$3,000,000 – $3,999,999 8 47
$4,000,000 – $4,999,999 2 153
$5,000,000 – $9,999,999 1 2
Total Properties 75 Avg. 97
Pending Statistics Print this page / E-mail this page / PDF this page
Report Run: 3/14/2014 11:00:21 AM
$400,000 – $449,999 2 1 1 – –
$450,000 – $499,999 4 1 – 2 1
$500,000 – $599,999 9 6 2 1 –
$600,000 – $699,999 9 4 3 2 –
$700,000 – $799,999 15 10 2 3 –
$800,000 – $899,999 13 6 1 4 2
$900,000 – $999,999 13 7 2 3 1
$1,000,000 – $1,499,999 21 11 7 3 –
$1,500,000 – $1,999,999 13 8 3 1 1
$2,000,000 – $2,499,999 3 1 – 1 1
$2,500,000 – $2,999,999 4 2 – 2 –
$4,000,000 – $4,999,999 1 – – – 1
Total Properties 109 59 21 22 7
Lowest Price: $449,000 Median Price: $899,000
Highest Price: $4,200,000 Average Price: $1,224,298
Total Market Volume: $133,448,499
Posted in Boston Top 20, Greater Boston Real Estate, homes for sale in Newton, MA, Listing Agent, Margaret Szerlip, Newton, MA. Homes for sale, Newton, MA. real estate, REAL ESTATE, Sotheby's Realty Newton, sothebys realty, West Newton Hill on March 14, 2014 by Margaret Szerlip. Leave a comment
← Massachusetts single-family home sales hit a 10-year high for February
WALK TO RAISE AWARENESS FOR EATING DISORDERS AT NEWTON NORTH →