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Houses Sold in 02459: Market Report October 2013

Newton houses are flying off the market, and zip code 02459 has been especially tight.  Below find a comparison of recent sales statistics in Octobers of 2011, 2012, and 2013.  “Sold houses” means closings, so these houses likely came on market in August, a very quiet month in real estate in Newton.   But even with the small sample, the market changes are impressive.

Time Frame October 2011 October 2012 October 2013
Number of Sales 15 14 9
Average Price (rounded to nearest $1,000)  $886,000  $1,080,000  $956,000
Median Price (rounded to nearest $1,000)  $725,000  $913,000  $915,000
Average Days on Market 96 71 17
Average Sale Price to List Price Ratio 95% 96% 100%

 

The best indicators of the tightening housing market in Newton Center are the last two, highlighted in green.  Average days on market dropped from 96 in 2011 to 17 in 2013.  And the average sale price to list price ratio has gone up from 95% to 100%. This means, on average, houses sell for asking price.

Houses sell quickly and buyers pay what the seller asks.

Houses in 02459 are hot!

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