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By Scott Beard | Agent in Boston, MA
  • Newton, MA Real Estate Market Trend Report July 2011

    Posted Under: Market Conditions in Newton, Home Buying in Newton, Home Selling in Newton  |  August 19, 2011 6:24 AM  |  364 views  |  No comments
    In the month of July, Newton, MA had 233 single family homes for sale with an average of 110 days on market.  The lowest price home was $225,000 and the highest price home was $5,500,00.  The median price for sale was $875,000 and the average price for sale in Newton, MA was $1,192,354.  The total market volume of the homes for sale was $277,818,560.

    In the month of July there were 61 single family homes that sold with an average of 75 days on market.  The lowest price home sold was $411,000 and the highest price home sold was $2,799,000.  The median sold price was $784,000 and the average sold price was $954,339.  The total market volume of single family homes sold in Newton, MA for July 2011 was $58,214,700.

    So how does this compare to last year?

    In July 2010, Newton, MA had 201 single family homes for sale with an average of 111 days on market.  The lowest price home for sale was $239,000 and the highest price home was $6.995,000.  The median price was $825,000 and the average price for sale was $1,178,013.  The total market volume of the homes for sale was $252,094,855.

    In July 2010 there were 57 single family homes sold in Newton, MA with an average of 67 days on market.  The lowest priced home sold was $375,000 and the highest priced home sold was $2,090,000.  The median sold price was $841,000 and the average sold price was $965,558.  The total market volume of single family homes sold in Newton, MA for July 2010 was $55,036,800.

    So how does this compare to June 2011

    Click here for the June 2011 Market Report. Compared to June 2011, July saw a decrease in the number of single family homes for sale by 8% and the average price of a home for sale was down about 3.5%. July 2011 saw a decrease in the number of homes sold compared to June 2011 by 33%.  However, July saw an increase in average sales price by about 2% over June 2011.

    What does all this mean?

    This July saw an increase in the number of homes sold compared to July 2010 by 4 and homes were on market an average of 8 days longer. Prices were just about even compared to last July.  Total dollar volume sold was up around 5.5%.  The number of homes for sale increased about 14% in July 2011 compared to July 2010.  The absorption rate for July 2011 is 4.9 which indicates we are in a seller’s market leaning to neutral market. May 2011 to June 2011 we saw a huge increase in homes sold, we can safely say that was due to the normal spring demand as historically more homes are sold in May and June than any other month.  Compared to last year we saw a slight increase in number of homes sold with prices just about the same.  So with prices even compared to last year,  inventory low, and interest rates low, now is the perfect time to search for your new home.

    About the Author

    The above information was provided by MLS PIN and Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. As a Buyer you should have an agent working for you who is familiar with the market trends and has the negotiating skills necessary to achieve results for you. To discuss your buying or selling needs,  Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard.

  • Newton, MA Real Estate Market Trend Report June 2011

    Posted Under: Market Conditions in Newton, Home Buying in Newton, Home Selling in Newton  |  July 19, 2011 7:07 AM  |  376 views  |  No comments
    In the month of June, Newton, MA had 252 single family homes for sale with an average of 100 days on market.  The lowest price home was $234,900 and the highest price home was $6.995,000.  The median price for sale was $894,000 and the average price for sale in Newton, MA was $1,232,417.  The total market volume of the homes for sale was $310,569,146.

    In the month of June there were 91 single family homes that sold with an average of 63 days on market.  The lowest price home sold was $265,000 and the highest price home sold was $3,600,000.  The median sold price was $779,550 and the average sold price was $938,200.  The total market volume of single family homes sold in Newton, MA for June 2011 was $85,376,208.

    So how does this compare to last year?

    In June 2010, Newton, MA had 221 single family homes for sale with an average of 94 days on market.  The lowest price home for sale was $239,000 and the highest price home was $6.995,000.  The median price was $949,000 and the average price for sale was $1.259.992.  The total market volume of the homes for sale was $278,458,288.

    In June 2010 there were 80 single family homes sold in Newton, MA with an average of 53 days on market.  The lowest priced home sold was $380,000 and the highest priced home sold was $6,500,000.  The median sold price was $709,250 and the average sold price was $934,106.  The total market volume of single family homes sold in Newton, MA for June 2010 was $74,728,492.

    So how does this compare to May 2011

    Click here for the May 2011 Market Report. Compared to May 2011 June saw an increase in the number of single family homes for sale by 4% and the average price of a home for sale was even. June 2011 saw an increase in the number of homes sold compared to May 2011 by 45%.  However, June saw a decrease in average sales price by about 5.5% over May 2011.

    What does all this mean?

    This June saw an increase in the number of homes sold compared to June 2010 by 11 and homes were on market an average of 10 days longer. Prices were just about even compared to last June.  Total dollar volume sold was up around 12%.  The number of homes for sale increased about 13% in June 2011 compared to June 2010.  The absorption rate for June 2011 is 4.6 which indicates we are in a seller’s market leaning to neutral market. Comparing the huge increase in sold homes from May to June might just be a result of the usual spring demand.  We will have to wait and see the July 2011 results to see if buyers demand continues.  So with prices even compared to last year,  inventory low, and interest rates low, now is the perfect time to search for your new home.

    About the Author

    The above information was provided by MLS PIN and Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. As a Buyer you should have an agent working for you who is familiar with the market trends and has the negotiating skills necessary to achieve results for you. To discuss your buying or selling needs,  Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard.

  • Boston, MA Real Estate Market Trend Report for June 2011

    Posted Under: Market Conditions in Boston, Home Buying in Boston, Home Selling in Boston  |  July 19, 2011 6:11 AM  |  354 views  |  No comments
    In the month of June, Boston, MA had 433 single family homes for sale  with an average of 108 days on market.  The lowest price home was $74,995 and the highest price home was $23,000,000.  The median price for sale was $399,000 and the average price for sale in Boston, MA was $836,935.  The total market volume of the homes for sale was $362,392,916.

    In the month of June there were 133 single family homes that sold with an average of 99 days on market.  The lowest price home sold was $75,000 and the highest price home sold was $4,425,000.  The median sold price was $385,000 and the average sold price was $644,883.  The total market volume of single family homes sold in Boston, MA for May 2011 was $85,769,450.

    So how does this compare to last year?

    In June 2010, Boston, MA had 450 single family homes for sale with an average of 116 days on market.  The lowest price home for sale was $35,000 and the highest price home was $23,000,000.  The median price was $412,000 and the average price for sale was $962.755.  The total market volume of the home for sale was $433,240,186.

    In June 2010 there were 138 single family homes sold in Boston, MA with an average of 82 days on market.  The lowest priced home sold was $65,000 and the highest priced home sold was $3.850,000.  The median sold price was $405,000 and the average sold price was $632,616.  The total market volume of single family homes sold in Boston, MA for May 2010 was $87,300,990.

    So how does this compare to May 2011

    Click here for the May 2011 Market Report. Compared to May 2011 June saw a decrease in the number of single family homes for sale by 3% and the average price of a home for sale was also down by about 1.5%. However, June 2011 saw an increase in the number of homes sold compared to May 2011 by 45%.  June also saw an increase in average sales price by about 1.5% over May 2011.

    What does all this mean?

    This June saw a decrease in the number of homes sold compared to June 2010  by 5 and homes were on market an average of 17 days longer. Prices were up on average  2% compared to last June.  Total dollar volume sold was down around 2%.  The number of homes for sale decreased about 4% in June 2011 compared to June 2010.  The absorption rate for June 2011 is 5.29 which indicates we are in a balanced or neutral market. Comparing the huge increase in sold homes from May to June might just be a result of the usual spring demand.  We will have to wait and see the July 2011 results to see if buyers demand continues.  So with prices up slightly compared to last year,  inventory balanced, and interest rates low, now is the perfect time to search for your new home.

    About the Author

    The above information was provided by MLS PIN and Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. As a Buyer you should have an agent working for you who is familiar with the market trends and has the negotiating skills necessary to achieve results for you. To discuss your buying or selling needs,  Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard.

  • Boston, MA Condominium Real Estate Market Trends Report May 2011

    Posted Under: Market Conditions in Boston, Home Buying in Boston, Home Selling in Boston  |  June 17, 2011 12:51 PM  |  352 views  |  No comments
    In the month of May, Boston, MA had 2128 condominiums for sale  with an average of 106 days on market.  The lowest price home was $45,000 and the highest price home was $16,990,000.  The median price for sale was $409,000 and the average price for sale in Boston, MA was $639,393.  The total market volume of the condominiums for sale was $1,360,628,871.

    In the month of May there were 346 condominiums that sold with an average of 90 days on market.  The lowest price condo sold was $61,000 and the highest price condo sold was $2.975,000.  The median sold price was $382,750 and the average sold price was $510,707.  The total market volume of condominiums sold in Boston, MA for May 2011 was $176,704,733.

    So how does this compare to last year?

    In May 2010, Boston, MA had 2285 condominiums for sale with an average of 110 days on market.  The lowest price home for sale was $15,000 and the highest price home was $13,700,000.  The median price was $409,000 and the average price for sale was $676,373.  The total market volume of the home for sale was $1,545,513,153.

    In May 2010 there were 410 condominiums sold in Boston, MA with an average of 98 days on market.  The lowest priced home sold was $40,000 and the highest priced home sold was $10,800,000.  The median sold price was $339,500 and the average sold price was $491,837.  The total market volume of condominiums sold in Boston, MA for May 2010 was $201,653,032.

    What does all this mean?

    May 2011 saw a decrease in the number of condominiums sold by 64 and condos were on market an average of 8 days less. Prices were up on average of 3.6% compared to last May.  Total dollar volume sold was down around 14%.  The number of condos for sale decreased about 7% in May 2011 compared to May 2010. The absorption rate for May 2011 is 6.65 which indicates we are in a buyers market.  So with prices up,  inventory about the same as last year, less condos sold,  a slight edge to buyers in absorption rate, and interest rates low, now is the perfect time to search for your new home.

    About the Author

    The above information was provided by MLS PIN and Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. As a Buyer you should have an agent working for you who is familiar with the market trends and has the negotiating skills necessary to achieve results for you. To discuss your buying or selling needs,  Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard.

  • Real Estate Absorption Rates Explained

    Posted Under: Market Conditions in Newton, Home Buying in Newton, Home Selling in Newton  |  June 14, 2011 12:34 PM  |  502 views  |  No comments

    The easiest way to understand current and future market condition is to monitor the real estate absorption rate. The real estate absorption rate is the rate at which the inventory of homes for sale is being sold.  Realtors us the real estate absorption rate to gauge of how long it will take to sell your home, and how aggressive you will need to reach your timing goal to sell.

    Mathematically, absorption rate is the measurement of current housing supply divided by the current rate of sales, expressed in months or weeks of supply.

    A simpler way to express the definition of the real estate absorption rate is to say it is the number of months that the market will need to exhaust the current supply of homes for the foreseeable future. Thus, an absorption rate of 6 would mean that at the current rate of sales, the  real estate market has all the homes for sale that it needs for the next 6 months.

    Real Estate is all about supply and demand. Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity. That equilibrium of price and quantity in the housing market is determined by the absorption rate.

    How to calculate the absorption rate?

    • First, determine the number of homes closed in the real estate market over a 12 month period.
    • Next, divide the number of homes by 12, this calculation gives the absorption rate.
    • Last, divide the rate into the number of current listings(homes for sale).  This yields the months’ supply of homes.

    What does it mean to the seller in Real Estate terms?

    • Sellers Market: 1 to 4 months supply of homes
    • Neutral Market: 5 to 6 months supply of homes
    • Buyers Market: More than 6 months supply of homes

    In a sellers market the seller can set the price, do minimal staging and the house will sell as there is very little inventory for buyers.  In a neutral market the seller will need to look at the competitors pricing and market and perform minimal staging.  In the buyers market the seller will need to price aggressively, offer buyer incentives such as home warranties and perform high levels of staging and updating.  Whether you are a buyer or seller knowing the absorption rate will assist you with determining real estate values for your market.

    About the Author

    The above information was provided by  Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard

  • Boston, MA Real Estate Market Report for May 2011

    Posted Under: Market Conditions in Boston, Home Buying in Boston, Home Selling in Boston  |  June 14, 2011 9:08 AM  |  338 views  |  No comments
    In the month of May, Boston, MA had 445 single family homes for sale  with an average of 108 days on market.  The lowest price home was $79,900 and the highest price home was $23,000,000.  The median price for sale was $415,500 and the average price for sale in Boston, MA was $845,198.  The total market volume of the homes for sale was $376,113,238.

    In the month of May there were 73 single family homes that sold with an average of 95 days on market.  The lowest price home sold was $139,400 and the highest price home sold was $5,750,000.  The median sold price was $375,000 and the average sold price was $559,151.  the total market volume of single family homes sold in Boston, MA for May 2011 was $40,817,995.

    So how does this compare to last year?

    In May 2010, Boston, MA had 434 single family homes for sale with an average of 117 days on market.  The lowest price home for sale was $35,000 and the highest price home was $23,000,000.  The median price was $429,949 and the average price for sale was $1,050,894.  The total market volume of the home for sale was $456,088,042.

    in May 2010 there were 105 single family homes sold in Boston, MA with an average of 75 days on market.  The lowest priced home sold was $96,000 and the highest priced home sold was $1,735,000.  The median sold price was $356,000 and the average sold price was $423,840.  The total market volume of single family homes sold in Boston, MA for May 2010 was $44,503,250.

    What does all this mean?

    This May saw a decrease in the number of homes sold by 32 and homes were on market an average of 20 days longer. However, prices were up on average of 32% compared to last May.  Total dollar volume sold was down around 9%.  The number of homes for sale increased about 2.5% in May 2011 compared to May 2010. The absorption rate for May 2011 is 6.32 which indicates we are just about in an balanced market, maybe a slight edge to buyers.  So with prices up,  inventory balanced, and interest rates low, now is the perfect time to search for your new home.

    About the Author

    The above information was provided by MLS PIN and Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard.

  • Real Estate Absorption Rates and What Do They Mean

    Posted Under: Market Conditions in Boston, Home Buying in Boston, Home Selling in Boston  |  June 14, 2011 9:05 AM  |  975 views  |  No comments

    The easiest way to understand current and future market condition is to monitor the real estate absorption rate. The real estate absorption rate is the rate at which the inventory of homes for sale is being sold.  Realtors us the real estate absorption rate to gauge of how long it will take to sell your home, and how aggressive you will need to reach your timing goal to sell.

    Mathematically, absorption rate is the measurement of current housing supply divided by the current rate of sales, expressed in months or weeks of supply.

    A simpler way to express the definition of the real estate absorption rate is to say it is the number of months that the market will need to exhaust the current supply of homes for the foreseeable future. Thus, an absorption rate of 6 would mean that at the current rate of sales, the  real estate market has all the homes for sale that it needs for the next 6 months.

    Real Estate is all about supply and demand. Supply and demand is an economic model of price determination in a market. It concludes that in a competitive market, the unit price for a particular good will vary until it settles at a point where the quantity demanded by consumers (at current price) will equal the quantity supplied by producers (at current price), resulting in an economic equilibrium of price and quantity. That equilibrium of price and quantity in the housing market is determined by the absorption rate.

    How to calculate the absorption rate?

    • First, determine the number of homes closed in the real estate market over a 12 month period.
    • Next, divide the number of homes by 12, this calculation gives the absorption rate.
    • Last, divide the rate into the number of current listings(homes for sale).  This yields the months’ supply of homes.

    What does it mean to the seller in Real Estate terms?

    • Sellers Market: 1 to 4 months supply of homes
    • Neutral Market: 5 to 6 months supply of homes
    • Buyers Market: More than 6 months supply of homes

    In a sellers market the seller can set the price, do minimal staging and the house will sell as there is very little inventory for buyers.  In a neutral market the seller will need to look at the competitors pricing and market and perform minimal staging.  In the buyers market the seller will need to price aggressively, offer buyer incentives such as home warranties and perform high levels of staging and updating.  Whether you are a buyer or seller knowing the absorption rate will assist you with determining real estate values for your market.

    About the Author

    The above information was provided by  Scott Beard, Virtual Homes Real Estate.  Scott Beard is leading REALTOR with over 18 years experience. Scott covers the Greater Boston area specializing in Newton, the Back Bay, Beacon Hill, North End and the Waterfront. Selling a home in Newton and Greater Boston requires you and your agent to price your home properly, by not doing so you will miss the market and potential buyers. Your agent should also have an “online marketing” plan for your home. As a home seller, you need to be aware that the market in Greater Boston has changed and that you need to have a professional dedicated to achieving results working for you. Scott can be reached at Scott.Beard@virtualhomes.com or by cell phone at 603-930-7777.  Visit my MLS Property Search Finder to have free MLS access. For more information about Scott Beard visit About Scott Beard

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