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Needham, Newton, Wellesley weekly real estate update: Newton sets another 2 year record for under agreement home and condo listings. Needham also has a big week.

May 11, 2012

This week in Newton and Needham, the buyers were on overdrive.  Three of the last seven weeks in Newton have seen more homes and condos go under agreement than any week in 2010 and 2011.  That is the type of spring Newton is having.  In Needham meanwhile, also beating the past two years, twice in the last three weeks there have been over 20 homes and condos going under agreement.  Wellesley had a good week but not at the level of Newton or Needham.

All three towns had big drops in the number of new listings this week.  Maybe that is a sign that the spring sports season has taken over everyone’s lives and they don’t have time to think about putting their homes on the market.  That is working out well for the people that do decide to list their homes.

With record under agreements and less new listings, simple math then showed that the inventory of homes and condos went down this week in all three towns.  Overall, Newton and Wellesley have had less inventory this year than years past and Needham has had more.

Needham => 16 new home / condo listings, 23 under agreement, 191 on the market

Newton => 27 new home / condo listings, 57 under agreement, 362 on the market

Wellesley => 11 new home / condo listings, 18 under agreement, 173 on the market

Have a great week!

Bill Paulson
Prudential Advantage Real Estate

Under agreement home / condo listings in Needham, Newton, and Wellesley by weekNew home / condo listings in Needham, Newton, and Wellesley by weekHomes and condos on the market in Needham, Newton, and Wellesley by week

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