Newton

Newton

Market Insights

• 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