Newton, known as The Garden City, is an affluent suburb located 7 miles west of Boston. Newton is the eleventh largest city in Massachusetts and a very desirable community for those looking to commute to Boston. Easily accessible via The Mass Pike, Commuter Rail and the T, Newton is known for its large historic homes set and top-ranked public school system.
Newton is comprised of 13 villages, each with local restaurants and shops that are walkable for residents. There are several historic sites within the town, including Crystal Lake, the East and West Parish burying grounds and the Jackson Homestead with the Newton History Museum.
Homes in Newton range from new luxury apartments to smaller single family homes to sprawling estates.
Single family values in Newton were steady in Q2 with only a 4.1% decline year-over-year, while the number of homes sold dropped by 47% yearover- year. The steep decline in market volume is largely attributed to COVID and many homes being removed from the market during this time. Newton represented a relative value to Brookline in Q2, with 3 bedroom homes selling for an average of $977,000 -- $513,000 less than 3 bedrooms in Brookline. Homes values in Newton continued to be buoyed by easy access to the Mass Pike & Boston, public transportation and one the state’s strongest public school systems.
In Q2 of 2019, 186 homes closed in Newton. In the same quarter of 2020, only 89 homes closed – which represents a 47% decline.
Homes values & market volume have seen a modest decline since Q2 of 2019, which appears to be a high-water mark for values & volume