Newton 2016 Year End Single Family Real Estate Review

The overall 2016 Newton residential real estate market was strong again for sellers. Inventory was down 39% at the end of 2016 vs. the same period in 2015. Sales for the entire year 2016 only dropped 9% vs. the entire year 2015, in the face of diminished inventory.

While overall inventories continued to be low throughout the year, various priced homes had been affected differently. Inventory below $1.5M at year end decreased 28%; $1.5M - $2.5M was down 68%; over $2.5M was also down 20%. While 2016 median prices remained flat to 2015, there was demand for homes in all price ranges. Most notably, $1.5M - $2.5M home sales were up over 21% on an inventory level finishing down 68%.

Demand for Newton continues to be high and buyers continue to recognize it as a great place live.

*All data from MLS Property Information Network, Inc.

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MB Associates is a leading residential real estate team specializing in Newton, Brookline and surrounding markets. With our extensive experience and deep market knowledge, we are trusted advisors to buyers and sellers.