Newton, MA Real Estate News

By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
    As of March 31, 2009, there were 221 single family listings in Newton on the Multiple Listing Service (MLSPin).  During March, 99 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $1,103,861.   Inventory levels are building and supply is now far exceeding demand - especially in the higher end of the Newton market.  Now may be a great time to buy, but if Newtonians don't need to sell, they would be well advised to either hold off for a while or price their homes to sell today, because there will be more homes competing with overpriced listings tomorrow. Based on the number of active single family listings versus the number of sales during the month, there is a market absorption ...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
- Get Your Irish On! With MTV...John Prescott's The MetWest Scene Posted on March 16, 2009 by bostonkayakguy  If you’re still ” Gawkin’ and Rockin‘” U2, or still in need of help with your “recession depression,” then check out this coverage of the Somerville Theatre concert and question and answers with the band… Oh..and word has it that the Irish rockers filmed part of a music video before the concert at the Somerville… MTV Coverage Somerville Officially Proclaims “No Line on Horizon Day”/atU2.com     JOHN PRESCOTT -BostonKayakGuy     Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net JOHN PRESCOTT Vice President Century 21 Commonwealth 5...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
    As of February 28, 2009, there were 169 single family listings in Newton on the Multiple Listing Service (MLSPin).  Home sales year to date have been sluggish, compared to the same two month period in 2008.  A harsh winter has been partly to blame, but buyers still control the market.  It is interesting to note the trend that more affordable homes continue to sell and go under agreement, while buyers are turning their backs on luxury properties and neighborhoods with home prices beyond their reach.  Due to the uncertainty in the financial markets with jumbo loan financing, it is no wonder that Newton, as well as several other communities in the Metrowest area continue to build inventory.  During February, 53 new single family listings were added to our MLSPin and an additional 6 sin...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
   As of January 31, 2009, there were 134 single family listings in Newton on the Multiple Listing Service (MLSPin).  Although it is encouraging to see that there were 18 homes put under agreement during the month, the reality is that all but one listing sold for under $1,000,000 a potential sign that there may be trouble ahead for higher-end homes that will continue to stay in inventory, while more attractively priced homes will sell.  The months ahead should mirror this trend that is being noted throughout the metropolitan Boston and Metrowest area.  During January, 37 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $971,837.    Based on the number of active single family listi...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
  As of December 31, 2008, there were 105 single family listings in Newton on the Multiple Listing Service (MLSPin).   Year to date sales figures show a 19.3% decline in sales volume and average sales prices are reflect a modest decrease of 3.5% compared to 2007. Based on current market absorption rates (see below), the market for single family homes in Newton appears to be "balanced."  In other words, market supply and demand are in balance, such that it is neither a buyers' nor a sellers' market.  However, some of the inventory currently available has been sitting idle for over four months and are priced below historical averages for Newton - suggesting some concerns on the part of buyers with regard to these particular listings.  Certain parts of Newton are also experiencing an incre...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
The Turnpike Authority sure isn't out to win friends.  First the proposed toll hikes and now word that the Rte. 16 Newton ramp to the pike will be closed starting January 12 for a traffic study... Image via Wikipedia Turnpike officials will be closing a ramp in Newton in January  to monitor traffic flow near the Route 16/Mass Pike interchange. This will be a temporary closing.  The specific dates are...     (more)  BostonKayakGuy...John Presott's The MetWest Scene   JOHN PRESCOTT -BostonKayakGuy     Top Real Estate Agent for more than 14 years, serving the real estate needs of  Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities.  www.johnprescott.net JOHN PRESCOTT Vice President Century 21 Commonwealth 508-523-9252   BostonKayakGuy…The Me...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
    As of November 30, 2008, there were 141 single family listings in Newton on the Multiple Listing Service (MLSPin).  Newton leads the pack in terms of consistent market performance in a down market.  Home prices are slightly down from last year, but buyers and sellers seem to "get it" in Newton.   During November, 27 new single family listings were added to our MLSPin, with an average list price of $1,058,215.  Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 223 days.   That is to say, based on the volume of sales during the past month, it will take about 7.4 months to sell all of the single family homes currently in inventory and sitting on the Newton market. The average list price for a single fa...
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By Douglas Carson, Realtor
(Coldwell Banker Residential Brokerage)
The number of condominiums sold in Newton, MA during the month of October decreased from 19 sold (2007) to 17 homes sold in 2008. The average selling price decreased from $496,605 in 2007 to $476,294 in 2008.  The average DOM (Days on Market) decreased to 89 days from 126 in 2007.
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
Date Night…Newton... John Prescott’s The MetWest Scene bostonkayakguy.wordpress.com — The relatives have begun to gather; or not. You need to entertain them or perhaps it's your last moments of alone time. In either case, Newton offers fun and entertainment this weekend. First up is the Newton Open Art Studios event at the Newton Cultural Center...  (more) BostonKayakGuy...John Prescott's The MetWest Scene   JOHN PRESCOTT -BostonKayakGuy     Top Real Estate Agent for more than 14 years, serving the real estate needs of  Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities.  www.johnprescott.net JOHN PRESCOTT Vice President Century 21 Commonwealth 508-523-9252   BostonKayakGuy…The MetWest Scene
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
BostonKayakGuy has long been a fan of TripAdvisor, the online travel site propelled by travellers who offer their reviews and comments on hotels, destinations, and restaurants. It’s a fabulous resource when you’re planning a trip or want to see what others have to say about a restaurant or hotel you’re considering.   Featured Traveler Photo Bora Bora: Glorious sunset Submitted by: firefly242 Find out more about Bora Bora And the contributors’ photos give a far better picture (no pun intended..well, maybe) of a location than the perfectly staged, photoshopped resort photos used to market accommodations and amenities. TripAdvisor also includes forums where fellow travellers can meet, ask questions, and solicit advice. Turns out that BostonKayakGuy has also made plenty of his own contribut...
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By Douglas Carson, Realtor
(Coldwell Banker Residential Brokerage)
The number of single family homes sold in Newton, MA during the month of October decreased by 30% from 37 sold (2007) to 26 homes sold in 2008. The average selling price decreased by almost 10% from $935,936 in 2007 to $847,824 in 2008.  The average DOM (Days on Market) decreased significantly to 73 days from 102 in 2007.
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
In an effort to be knowledgeable of our current market, I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, and Brighton. Below are the market statistics in Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton, MA market statistics weekly on Fridays. The market in Newton has seemingly slowed in comparison to last year at this time, but there are a few bright spots as well. Average sales prices have dropped significantly between 2007 and 2008 in single family homes, condominiums and multi-family homes. In single family home sales there have been 102 less sales year-to-date, which is a pretty steep number. Inventory is still doing well though, hovering around 150 homes on the market. This means that either ...
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By Martin Kalisker, Professional Standards & Legal Assistant
(Greater Boston Association of REALTORS)
     As of October 31, 2008, there were 150 single family listings in Newton on the Multiple Listing Service (MLSPin).  Sales of single family homes are down almost 18.6% for the year, with on- going price adjustments to existing inventory, which is aging.  During October, 40 additional single family listings were added to our MLSPin, (3 of which were back on market) with an average list price of $1,188,788.  Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 5.77 months.   That is to say, based on the volume of sales during the past month, it will take 173 days to sell all the single family homes currently sitting on the Newton market. The average list price is $1,246,187.  The lowest price is $325,000 ...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
Barney Frank…Has the Fat Lady Sung? Posted on October 25, 2008 by bostonkayakguy  Image by Getty Images via Daylife Barney Frank will debate to keep job… Barney Frank, Earl Sholley and Susan Allen will engage in a debate for the 4th congressional seat on Sunday, October 26 at Wellesley College at 4:30 pm. The event is free and open to the public. The doors will open at 3:30 pm. Issues on the table include Frank’s possible role in the collapse of the financial markets, his alleged ties to Fannie Mae, and his inability to denounce the lack of proper oversight to many of the financial institutions at the root of our economic woes. A congressman since 1981, Barney Frank has claimed he had no power to stop the various pieces of the failing economic puzzle from falling into place.  His contin...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
Overview The Falls Ridge Condominiums is complex of 33 condominiums in Newton. Falls Ridge is located at 51 Pettee Street, which is directly off Eliot Street. The building which houses the condominiums was built in 1904 as the Ralph Waldo Emerson School. In 1955 an addition was added to school giving it the full shape it is today. In 1984, the entire complex was converted into condominiums with the Emerson Community Center being connected on the far right side. Most of the units have 1 deeded parking space as well. Units & Pricing Each unit varies in size and number of bedrooms. For the most part, the units are all over 1,000 square feet and are for the majority 1 bedroom condominiums. There are some 2 bedrooms as well. Units have in-unit laundry, central air and elevator access to ever...
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By Mark Madden, The Madden Team
(Century 21 Commonwealth)
In an effort to be knowledgeable of our current market I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton market statistics on a weekly basis on Fridays. This week I am posting the market statistics for Newton, MA. As you can see there has been depreciation in every housing market of Newton over the last year. The largest depreciation is in Multi-Family homes which has dropped $75,968. There is good news in the Newton housing market though. The inventory has dropped slightly, which allows for a better absorption rate (months of inventory on the market). Also, the days on market for sold single fa...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
  Posted on October 6, 2008 by bostonkayakguy     Image by Getty Images via Daylife   Calling all taxpayers!   Barney Frank, the congressman with the faulty memory of late, has called a press conference for Oct.6, Monday at 10:30 am at Newton City Hall to discuss the federal bailout, (and perhaps why he’ll be bailing on future Bill O’Reilly appearances!)       [youtube=http://www.youtube.com/watch?v=RAuOEdttjZQ&color1=0xb1b1b1&color2=0xcfcfcf&fs=1]             Bill O’Reillly vs. Barney Frank/US News   JOHN PRESCOTT   -BostonKayakGuy               Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net   JOHN PRESCOTT   Vice President   Century ...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
Great Buying Opportunities in Boston Real Estate! Posted on October 5, 2008 by bostonkayakguy  In an economic downturn, there always exists opportunity; you just need to know where to look! Urban areas that attract artists tend to be on the vanguard of development opportunity. Revitalizing neighborhoods with galleries, boutiques, and cafes attracts business and residents. Living close to jobs in affordable housing appeals to young professionals, growing families, and artists, among others.  In the past, artists have shown an uncanny ability to ferret out locations ripe for investment and opportunity. People wanting to downsize enjoy the proximity to cultural attractions, restaurants, and dwellings that are “green” and easy to maintain. I just sold a home on Bellevue Hill in West Roxbury...
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By John Prescott, Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest
(Century 21 Commonwealth Wellesley)
Posted on September 22, 2008 by bostonkayakguy  Hotel Indigo in Newton is a new boutique hotel concept, and is the first of its kind in Boston’s western suburbs. Plans to position its pool deck as a hip, happening entertainment venue… …came to a halt last week when Indigo’s reps pulled their request for a “weekday entertainment license,” after being notified that such a license is prohibited by Newton’s noise and entertainment regulations. The abrupt action calls into play whether the city of Newton should now take a long, hard look at its licensing regulations to determine if updating or revamping needs to take place. In a report in today’s Boston Globe Richard Chmielinski, the assistant city solicitor said, ” Newton officials would have to amend, modify, or repeal sections of the city...
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By George Koppel,, The Lowenstern Team
(CASTLES UNLIMITED®)
I just took a look at the MLS statistics for 2007 compared to 2006 for single family, condos and multi-family homes sold in Newton, Massachusetts.  Here they are:                                                                         2007                            2006                                                                                  Total Sold                                 964                               915                                         Avg. Days on Market                  108                               110                          Avg. Sale Price                      $804,681                       $784,769                          Median Price                         $681,875                       $647,500As you can see from 2006 to 2007, the total n...
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