Today is March 8th 2017, and boy the spring real estate market is here currently… there’s no more waiting we are in it now! There has been very little snowfall this winter, allowing Buyers & Sellers both to remain active with showing of property. Despite governmental & presidential instability, the economy remains healthy as does employment which seems to directly correlate with a healthy local market.
Overall it is still a Seller’s Market and we are experiencing fierce bidding wars for essentially all properties that my Buyer’s are pursuing. The shortage of inventory is tough on Buyers but folks seem to be optimistic (as am I) that there will be an influx of property in the next few weeks. I myself am listing a whole bunch of properties over the course of the next month – so if that’s an indication of the greater atmosphere it will be a very busy spring. My Buyers seemed unfazed this winter by rising interest rates – which have recently stabilized around 4.15% for a 30 year fixed conventional mortgage.
Average sale price for a Newton condo is $698,000… up 12% from this time last year. The least expensive condo in Newton is currently listed for $389K with 2 beds & 1 bath. The least expensive single family in Newton right now is $619,000 and has 3 beds & 2 full baths while average sale price for a single family remains at about $1.1M. The most expensive home in the community is asking just under $9M.