TRENDS IN SINGLE FAMILY HOMES
NUMBER SOLD, AVERAGE SALE PRICE, AND AVERAGE DAYS ON MARKET
NEWTON, BROOKLINE, NEEDHAM, WELLESLEY, & NATICK, MA
2007 to 2011, and 4 months 2012
MAY 1, 2012
Compiled by Mitchell Kur, Principal, Think Real Estate Services, Newton, MA
Data Source: MLSPIN
|
2007 |
2008 |
2009 |
2010 |
2011 |
JFMA 2012* |
|
|
NEWTON |
||||||
|
No. Sold |
617 |
499 |
511 |
518 |
519 |
145 |
|
Avg. Price |
$ 964,332 |
$ 904,638 |
$ 842,061 |
$ 882,812 |
$ 908,328 |
$ 847,839 |
|
Avg. DOM** |
100 |
75 |
78 |
76 |
88 |
93 |
|
BROOKLINE |
||||||
|
No. Sold |
187 |
124 |
125 |
136 |
160 |
30 |
|
Avg. Price |
$ 1,432,278 |
$ 1,325,407 |
$ 1,315,895 |
$ 1,370,863 |
$ 1,410,810 |
$ 1,194,383 |
|
Avg. DOM |
140 |
105 |
106 |
96 |
125 |
156 |
|
NEEDHAM |
||||||
|
No. Sold |
373 |
267 |
273 |
306 |
281 |
71 |
|
Avg. Price |
$ 748,577 |
$ 785,675 |
$ 775,293 |
$ 805,643 |
$ 818,141 |
$ 787,812 |
|
Avg. DOM |
96 |
88 |
89 |
90 |
100 |
156 |
|
WELLESLEY |
||||||
|
No. Sold |
338 |
271 |
267 |
304 |
283 |
79 |
|
Avg. Price |
$ 1,251,572 |
$ 1,351,022 |
$ 1,154,302 |
$ 1,106,015 |
$ 1,249,963 |
$1,081,690 |
|
Avg. DOM |
105 |
107 |
118 |
124 |
133 |
135 |
|
NATICK |
||||||
|
No. Sold |
294 |
234 |
259 |
255 |
286 |
54 |
|
Avg. Price |
$ 542,319 |
$ 472,685 |
$ 478,695 |
$ 467,890 |
$ 463,282 |
$ 429,363 |
|
Avg. DOM |
102 |
104 |
96 |
73 |
86 |
87 |
Source: MLSPIN
* First four months of 2012
** Average Days on Market
You may find the data above valuable if you are sellers in any of these five cities and towns, or if you are considering buying a home in one of them. The data provide a backdrop for your exploration as well as help to set expectations. For example, the numbers suggest that Natick may be a great community for first time buyers. Needham has experienced slow but steady price increases over the five year period. Newton, Brookline and Wellesley prices have remained relatively stable (and strong), good for sellers, although buyers may find many individual excellent values that counter the averages.
The more current data (first four months of 2012) reflect an active start of the “spring season,” with lower priced homes leading sales, and higher priced homes sitting on the market longer.
Some buyers are beginning to feel that they are being priced out of the market—that homes are not affordable. But take a look at the schedule below. Among the over 700 homes for sale in these five communities, there are 138 homes for sale at $600,000 or less, 52 of them in Natick and 32 in Needham.
SINGLE FAMILY HOMES FOR SALE ON MAY 1, 2012
|
NEWTON |
BROOKLINE |
NEEDHAM |
WELLESLEY |
NATICK |
|
|
|
|
|
|
|
|
|
# SFH FOR SALE |
232 |
79 |
155 |
157 |
89 |
|
AVG. LIST PRICE |
$ 1,301,812 |
$ 2,845,644 |
$ 1,184,910 |
$ 1,815,055 |
$ 635,738 |
|
|
|||||
|
# SFH FOR SALE $600K OR LESS |
40 |
3 |
32 |
11 |
52 |
Source: MLSPIN
Take heart, buyers. The average list prices above look scary when compared with actual selling price data in the first schedule. That’s because final prices are reached in the overwhelming number of cases only after careful negotiations. Also on your side, buyers, are very low interest rates.
There are still homes in great communities at all (final) prices that will fit the pocketbooks of buyers. Get professional help to find the right home, negotiate, manage the process, and achieve your goals. For a free consultation, contact me or one of our other professionals at Think Real Estate Services.
| Mitchell Kur , Principal Think Real Estate Services 191 Sumner Street Newton Centre, MA 02459 617-962-7895 (direct) 617-244-2755 (office) |
 www.THINKres.com |
