Today’s Boston Globe features a listing of real estate open houses this weekend. There were 10 properties listed in Newton. One of them was a 1 bedroom condo listed at $319K. The other 9 started at $1.3m and went up to $2.6m. That m stands for million.
Discuss!
I just checked on MLS, There are
15 Single Family homes
10 Condos
3 Multifamily homes
with OPEN HOUSES in Newton this weekend Under $1,000,000
correction – 2 multifamily
Jerry, not doubting those are the only ten open houses listed in the Globe currently, but that seems to skew the extremes on both sides. We all know Newton is very expensive for real estate and the good and bad that goes with that, but as Janet points out I’m sure it’s easy to find listings under a million as well.
$319k for a condo, on the other hand, is as low as anything I’ve heard about in Newton (yes, even for a 1 BD). Someone should go check that out.
1 SFR for $450K
6 Condos under $500K
Those are just the open houses – there are more on the market!
@Janet – Yes, that listing in the Globe is just a (possibly misleading) sample of the market but it caught my eye.
I just did quick check on Zillow and came up with these numbers for houses currently on the market. No doubt we can quibble on some details but I think they illustrate just how extreme the Newton real estate market is becoming.
13 houses under 500k
32 between 500k-1m
58 between 1m-2m
35 greater than 2m
@Jerry
I would be happy to send you a list of weekly open houses in Newton if you like!
No thanks Janet. We’ll not be buying more Newton real estate any time soon … though a few of those $2.5m shacks did pique my interest a bit.
Only in Newton would people consider a 500k home within the range of middle income families. 20% down is $100,000 leaving you with a $400,000 mortgage.
Jane / Janet
When talking about people moving into newton a number of people keep mentioning 20% down and hefty mortgage.
I’m intrigued – how many people come in at 10 / 20 /30% etc?
Is there a resource to find out this data?
@Simon
Some buyers actually pay CASH. With interest rates below 5% if you can find a way to make more money on your money, financing as much as you can is a good idea in today’s real estate market.
Newton’s real estate market is hotter than Beverly Hills. Everything is selling and for over asking.
500k in Newton is still a good deal compared to sending two kids to Catholic school in Boston.
I’m getting flyers in my mailbox from realtors encouraging me to sell – don’t know why they all want me to get out of town. 😛