Discover the Latest Real Estate Trends in Newton, MA
Newton represents a beautiful suburban city comprised by the Middlesex County. It is located only 11km (7 miles) away from the vibrant Downtown Boston. Instead of having one city center representing its most notable point of interest, Newtown actually constitutes a patchwork of no less than 13 villages. Home to 85,146 permanent residents, Newton offers a diverse selection of houses and apartments that might interest you. If you are contemplating the idea of purchasing one of the many Newton, MA homes for sale, you should know that the average price per square foot in this area was estimated at $423 and reflects a 2.4% increase compared to the values recorded last year, during the same period.
In case you are getting ready to relocate to this city and make an important financial effort to buy one of the many Newton apartments or homes for sale, you should know that you could soon become a part of a rather large, welcoming community counting 20,499 families, 32,648 households and 85,146 people (based on the numbers reflected by the 2010 census). The median age is 40 years and the average per capita income is almost $63,000.
Newtown Real Estate Trends and Overall Market Health
Next, potential buyers will probably be interested in the price tags carried by the Newton homes that have recently been put on the market. The median sales price for homes located in this city was estimated around $590,000 (during May 14- August 14). Compared to the numbers associated with last year’s real estate closings, the median home prices experienced a 20.1% drop (the equivalent of $148,250) and the overall number of home sales recorded in Newton also indicates a 87.2% decrease. The median list price per square foot is around $427. As far as the health of the Newton real estate market is concerned, potential buyers have no reasons to worry. With a rating of 8.5/10, the local real estate sector seems to be very healthy, with only 3.4% homes with negative equity and 1.1% delinquent on monthly mortgage payments.
If you can’t afford to buy a new roof over your head, note that you could find spacious Newton apartments for rent ranging from $1,400/month to $3,500/month and up, based on their location, overall condition and amenities.
In case you are planning to get the keys of one of the many marvelous Newton homes for sale, start by getting acquainted with the Newton real estate market and select your favorite neighborhoods. West Newton, Oak Hill, Newton Center, and Newtonville are listed among the most sought-after neighborhoods in Newton, MA with average listing prices ranging from $1,249,493 (Newton Highlights) to $2,379,786 (Newton Center).