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In an effort to be knowledgeable of our current market I weekly pull the market statistics in Watertown, Belmont, Arlington, Newton, Waltham, Brighton and Allston. Below are the market statistics in Newton, Massachusetts for Single Families, Condominiums and Multi-Families. I will be posting Newton market statistics on a weekly basis on Fridays.
This week I am posting the market statistics for Newton, MA. As you can see there has been depreciation in every housing market of Newton over the last year. The largest depreciation is in Multi-Family homes which has dropped $75,968. There is good news in the Newton housing market though. The inventory has dropped slightly, which allows for a better absorption rate (months of inventory on the market). Also, the days on market for sold single families and condominiums has dropped by double digits which is a good sign that the housing market is moving in Newton.

If you are interested in learning about more Market Statistics or would like to be emailed these statistics on a weekly basis for a particular town, please email me at mark.madden@commonmoves.com
Please click here to visit the Know Your Market Archives.
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Calling all taxpayers!
Barney Frank, the congressman with the faulty memory of late, has called a press conference for Oct.6, Monday at 10:30 am at Newton City Hall to discuss the federal bailout, (and perhaps why he’ll be bailing on future Bill O’Reilly appearances!)
[youtube=http://www.youtube.com/watch?v=RAuOEdttjZQ&color1=0xb1b1b1&color2=0xcfcfcf&fs=1]
Bill O’Reillly vs. Barney Frank/US News
JOHN PRESCOTT
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
JOHN PRESCOTT
Vice President
Century 21 Commonwealth
508-523-9252
BostonKayakGuy…The MetWest Scene
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In an economic downturn, there always exists opportunity; you just need to know where to look!
Urban areas that attract artists tend to be on the vanguard of development opportunity.
Revitalizing neighborhoods with galleries, boutiques, and cafes attracts business and residents.
Living close to jobs in affordable housing appeals to young professionals, growing families, and artists, among others. In the past, artists have shown an uncanny ability to ferret out locations ripe for investment and opportunity.
People wanting to downsize enjoy the proximity to cultural attractions, restaurants, and dwellings that are “green” and easy to maintain.
I just sold a home on Bellevue Hill in West Roxbury in its first weekend on the market! Close to public transportation and downtown Boston, its location and affordability are the earmarks buyers are now looking for, when looking for real estate opportunities.
Buying now, while homes in these areas are still cheap translates to opportunity!
Business Week Magazine has highlighted several locations where opportunity lurks!
And Boston’s Jamaica Plain made the cut!
Getty ImagesNeighborhood: Jamaica Plain
The neighborhood, three miles southwest of downtown, has plenty of green space. Its picturesque Jamaica Pond is popular for sailing, rowing, and outdoor concerts. It has retained its diversity and relative affordability despite the development of condos and the influx of wealthier residents. Some artists, fleeing the neighborhood’s rising rents, are pushing into neighboring Roxbury. Lowell, about 40 minutes away, and nearby Somerville are also attracting bohemian residents.
JOHN PRESCOTT
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
JOHN PRESCOTT
Vice President
Century 21 Commonwealth
508-523-9252
BostonKayakGuy…The MetWest Scene
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The abrupt action calls into play whether the city of Newton should now take a long, hard look at its licensing regulations to determine if updating or revamping needs to take place.
In a report in today’s Boston Globe Richard Chmielinski, the assistant city solicitor said, ” Newton officials would have to amend, modify, or repeal sections of the city’s regulations, in order to give Indigo, the permission it seeks to provide recorded or live music, dancing, use of an amplification system, and televisions on its outdoor pool deck.”
This came as a bit of a shock to the Indigo folks who had been meeting with Newton’s licensing board on this matter for almost 2 months, and had been following the board’s requests to take further actions surrounding their license request.
Indigo’s plans had met with strong resistance by hotel neighbors who had been annoyed by a grand opening party held in June at Hotel Indigo which they said raised concerns about parking, trash, noise, drunk driving, and other assorted issues.
Following a year long renovation the Indigo, which is part of InterContinental Hotels, offers a heated outdoor pool, hot tub and relaxation deck, firepits, and cabanas. Cabanas are outfitted with LCD flat-panel televisions, and deck area heating provides extended seasonal enjoyment.
The design philosophy behind Indigo is intriguing.
The Indigo brand combines math, art and nature in perfect symmetry. Fans of the “DaVinci Code” will recognize this as Phi, or the Golden Mean. Hotel Indigo notes that Phi has been used for centuries and has been applied “to achieve beauty and balance in art, architecture, music, and design.”
Hotel Indigo can resubmit its license request for outdoor entertainment, if their legal team deems it appropriate.
For More:
*Hotel Indigo was formerly the Holiday Inn on Grove St. Newton
JOHN PRESCOTT
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
JOHN PRESCOTT
Vice President
Century 21 Commonwealth
508-523-9252
BostonKayakGuy…The MetWest Scene
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I just took a look at the MLS statistics for 2007 compared to 2006 for single family, condos and multi-family homes sold in Newton, Massachusetts. Here they are:
2007 2006
Total Sold 964 915
Avg. Days on Market 108 110
Avg. Sale Price $804,681 $784,769
Median Price $681,875 $647,500
As you can see from 2006 to 2007, the total number of single family, condos and multi-family homes sold in Newton, MA increased, the average days on market slightly decreased and both the average sales price and median prices increased. Thus Newton seems to be bucking the national trend.
This only goes to show that all real estate is local. There are many hot spots nationally that are bucking the national trend in real estate. Newton, MA seems to be one of them.
GO SEE MY WEB SITE - www.georgekoppel.com
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