Is Newton, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Newton has remained a Seller's Market.
Key Takeaway
Newton is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Newton, MA
How much do homes in Newton, MA cost?
Median Sold Price
$1,460,000
$556/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Newton have sold for 8.4% more than they did a year ago.
Summary: The median home sold price in Newton was $1,460,000 in May 2024, up 8.4% from last year, and the median price per square foot was $556.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $481.2K | $510K | +6.0% |
| 2 Bedrooms | $680K | $810K | +19.1% |
| 3 Bedrooms | $1.1M | $1.1M | 0.5% |
| 4 Bedrooms | $1.5M | $1.6M | +10.5% |
| 5+ Bedrooms | $2.2M | $2.1M | -8.1% |
Summary: Newton housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6%, 2 bedroom homes increased by 19.1%, 3 bedroom homes increased by 0.5%, 4 bedroom homes increased by 10.5%, and 5+ bedroom homes decreased by 8.1%.
Median Sold Price Compared To Nearby Cities
| Newton Center | $1.5M | $1.7M | +15.6% |
| Wellesley Hills | $2.0M | $2.2M | +10.7% |
| Weston | $2.0M | $2.2M | +10.4% |
| Newton | $1.3M | $1.4M | +8.4% |
| Needham Heights | $1.3M | $1.4M | +7.9% |
Housing Supply in Newton, MA
How many homes are available in Newton, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 316 | 371 | +17.4% |
Summary: The Newton real estate market had 371 homes for sale in May 2024, a 17.4% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 11 | 12 | +9.1% |
| 2 Bedrooms | 28 | 39 | +39.3% |
| 3 Bedrooms | 63 | 73 | +15.9% |
| 4 Bedrooms | 90 | 97 | +7.8% |
| 5+ Bedrooms | 124 | 150 | +21.0% |
Summary: The Newton housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes increased by 9.1%, 2 bedroom homes increased by 39.3%, 3 bedroom homes increased by 15.9%, 4 bedroom homes increased by 7.8%, and 5+ bedroom homes increased by 21%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 67 | 73 | +9.0% |
Asking Price vs. Sold Price
38 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
34 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Newton, you may be able to get a good deal. 52.1% of homes here sold below asking price last month.
Summary: A total of 73 homes were sold or pending in Newton in May 2024, up by 9.0% month-over-month. Of the 73 sold homes, 52% were sold under asking, 1% were sold at asking, and 47% were sold over asking.
Days on Market for Newton, MA
How long does it take to sell a home in Newton, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 33 Days | 28 Days | -15.7% |
Summary: Homes in Newton had an average of 28 days on market in May 2024, down by 15.7% compared to last year.
Breakdown of Home Sale Times
54 Homes Were Sold
Under 30 Days
16 Homes Were Sold
In 30 - 90 Days
3 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Newton are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 73 homes were sold in Newton; 74% of homes were sold within 30 days, 22% of homes were sold within 30 to 90 days, and 4% of homes were sold over 90 days.
