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2012 Newton & Brookline Year In Review

2012 Newton & Brookline Year In Review

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Will the 2013 real estate market look better than 2012? How will it compare to 2011? Learn more in the Year In Review!
Will the 2013 real estate market look better than 2012? How will it compare to 2011? Learn more in the Year In Review!

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Categories:Types, Reviews
Published by: Naomi Zygiel-Almozlino on Feb 19, 2013
Copyright:Attribution Non-commercial

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02/19/2013

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A Year in Review
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Jan/Feb 2013
CommunityStatistics2011 vs 2012
www.NewEnglandMoves.com
1261 Centre Street
NEWTON
(617) 969-24471375 Beacon Street
BROOKLINE
(617) 731-2447622 Hammond Street
CHESTNUT HILL
(617) 566-2447
 
www.NewEnglandMoves.com
Here’s a statement we haven’t heard inyears as it relates to real estate; prices are up, the number of transactions is up andthe time it takes to sell a house is down.
To say the market has made a rapid recoveryis an understatement. Newton saw a 7% jump in year-over-year prices. The number of transactions is back to pre-real estate bustnumbers with over 1,000 closed transactionsin Newton alone. The last time that hap-pened was 2004. Absorption rates (theamount of time it would take to sell out100% of the current inventory) are in the 1-2month range in most of the surroundingcommunities.In Brookline, the number of sales and aver-age prices have increased each of the last 4years. Single-family home prices rose an av-erage of 5.3% and condominium prices rose2.3% in 2012. The number of single-familysales rose by 7% while condominiums salesrose by a staggering 18% over 2011. Similar to Newton, inventory is at record lows.
The great news:
Prices and transactions areheading in the right direction. Inventory islow, but that’s not a bad thing when it’s re-sulting from buyers eagerly gobbling upproperties as soon as they hit the market.
The good news:
Interest rates, for the shortterm at least, are expected to stay stable. Wecan’t predict where they are going; we can just capitalize on where they are today.
The not so good news:
Lending can still bechallenging and unemployment rates arehigher than we’d like to see.
Coldwell Banker had a great deal of suc-cess in 2012 getting homes sold and find-ing buyers their perfect house. We look forward to assisting you with all your realestate needs in 2013.
63%31%6%
Newton 2012 Residential Sales1015 Total SalesProperty Type Comparison
23%74%3%
Brookline 2012 Residential Sales756 Total SalesProperty Type Comparison
CondominiumSingle-FamilyMulti-FamilyCondominiumSingle-Family
 Town of Brookline • Median Sales Price2003-2012
Condominium
Massachusetts #1 Real Estate Company
Source: MLSPIN 1/7/2012
2003 2004 2005 2006 2007 2008 2009 2010 2011 20122003 2004 2005 2006 2007 2008 2009 2010 2011 2012
Source: MLSPIN
January 1, 2012 - December 31, 2012
Total Single-Family Home Sales633Average Days on the Market75Highest Sales Price$5,130,000Lowest Sales Price$215,000Average Sales Price$972,357Total Condominium Sales317Average Days on the MarketLowest Sales Price94$1,345,000Highest Sales Price$140,500Average Sales Price$513,443Total Mul-Family Home Sales65Average Days on the MarketLowest Sales Price75$1,885,000Highest Sales Price$359,800Average Sales Price$662,432
Newton Notables
January 1, 2012 - December 31, 2012
Total Single-Family Home Sales172Average Days on the Market101Highest Sales Price$10,500,000Lowest Sales Price$340,000Average Sales Price$1,489,053Total Condominium Sales559Average Days on the MarketLowest Sales Price60$2,000,000Highest Sales Price$191,000Average Sales Price$575,321Total Mul-Family Home Sales25Average Days on the MarketLowest Sales Price25$2,026,000Highest Sales Price$535,000Average Sales Price$1,152,856
Brookline Notables
City of Newton • Median Sales Price2003-2012
Single-Family

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