Good Morning, Osnat Levy here with you for another Monday Morning Market review.
Let’s check the pending for this month with compare to 2013
Taking a look at single family homes In Newton
The median price for single family in Newton is up (for pending) 23% ($809K last year Vs $995K this year). Inventory as of today is up 18% from last year and currently there are 153 homes on the market. That might bring prices a bit down. We’ll have to wait and see on that.
Median price for pending condos is up 9% from last year and is $569K. Inventory is a bit lower than last year.
Inventory of Single family home is still very low and there are 22% fewer houses on the market (51 this year vs. 65 last year), however same number of house went UAG but the median price from $1.32M to $1.77M which is an increase of 34%
Condos: Inventory is same as last year. But there is a decrease of 28% in number of pending. The median price is very similar to last year and it is $599K (VS $585K) as of 2013.
Are we looking at a change in market trend? We might. It is too early to say and prices are still very high. However there are more single family homes for sale in Newton and that might is good for buyers.