Newton Massachusetts Market Update for March 2009
By Martin Kalisker, Real Estate Ethics & Dispute Resolutikn
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 ...