Newton Real Estate Market Update Ending 2023: Record Highs, Low Inventory, and Impressive Gains!
Are you curious about the state of the real estate market in Newton, Massachusetts? Look no further! In this latest market update brought to you by Dwell360 Real Estate, John Lynch and Ed Johnston share some fantastic news about Newton's real estate scene in 2023.
Despite facing record-low inventory, Newton has experienced record-high average sale prices across all property types. From stunning luxury homes to cozy condos, the Newton market has something for everyone. Join us as we break down the numbers, discuss new construction trends, and explore the implications of low inventory on the market. Whether you're a homeowner or a prospective buyer, understanding the dynamics of the Newton real estate market is crucial. Watch the video above to learn why Newton real estate is not just a place to live—it's a wise investment and a hedge against inflation.
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Newton's +143% increase in single family home values out-paces the rise in inflation of +67.2% as well as a gain of +83.5% in median household income in Massachusetts over the last 20 years!
What is low inventory?
Inventory is just the number of homes for sale. In 2023, we saw the lowest inventory of single family homes in over 20 years in Newton, which naturally drives prices up. There are simply many more buyers looking to move into Newton than there are homes available for them to purchase. That makes 2024 a great time to sell your home!
If you're ready to make your real estate dreams a reality in Newton, Dwell360 Real Estate is here to guide you every step of the way.
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Data Source: MLS PIN. Dwell360 is an elite residential real estate firm based in the Village of Waban in Newton, Massachusetts, servicing the cities and suburbs of metro Boston. Owned by REALTORS Ed Johnston and John Lynch, Dwell360 is a leader in luxury real estate throughout Newton, Needham, Boston, Brookline, and other communities of the Greater Boston Area and on Cape Cod. Search for homes in Massachusetts or give us a call!
