Newton Reaches Another All-Time High
In 2021, the average price of a single family home in Newton soared over $1.7 million!
Last year Newton, Massachusetts experienced another year of major gains in the residential real estate market. 653 single family homes were sold, the most of any year in the last decade, while the average sale price jumped 14.9% to a new high of $1,745,245. For a little perspective, it was only 8 years ago that the average price passed the $1 million mark. Newton homeowners have seen their average values increase by 79% over the past ten years. The homes sold quicker last year too, spending an average of only 35 days on the market from listing to closing.
More condominiums and multifamily homes sold last year than in any of the ten previous years, as well. Once an affordable way into the Newton market, condos and townhouses gained 4.7% to reach an average sale price of $938,013 in 2021. The average price of multifamily home dropped by 8.5% to $1,189,211, but this was a slight correction after the huge 20.5% jump multifamily prices had made in 2020. When looking over the last decade, multifamily home values rose 79%.
Despite the large number of homes sold last year, buyer demand in Newton far exceeds the number of homes for sale, creating a highly competitive market in 2022.
Navigating this fast-paced environment takes experience and skill. Since founding Dwell360 in 2010, our team of REALTORS® has been providing our clients with the strategic vision needed to sell their homes with confidence. As an independent boutique brokerage located in Waban Village, we have perfected a comprehensive process for selling your home with less stress, fewer complications, and more money in your pocket. Please contact us to learn more.
Read our full Newton Massachusetts Real Estate Market Report including market data from 2012 through 2021. Browse our other local market reports on our Reports page, or by visiting our Neighborhood Living, City Living, and Coastal Living pages for the current statistics in many more of our favorite communities throughout the Greater Boston Area. From Belmont to Back Bay to Brewster, we’ve got you covered!
Market Data Source: MLSPIN, as of 1/29/2022.
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