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The Garden City and surrounding towns Market Trends

Setting the tone for sophisticated real estate services

At Engel & Völkers Boston, we strive to embrace our city’s simple ethos

— we work hard, and we play hard. Our real estate advisors work each deal with the same drive and intensity as if they were purchasing the property for themselves.

Our advisors are not only the most successful in our area, they also share traits which align with Engel & Völkers’ culture, such as teamwork, passion, and competence. With our state-ofthe-art real estate tools and technology, premium brand rec-ognition, and unrivaled market knowledge, we are able to offer our clients first class service during the purchase or sale process.

We look forward to hearing from you soon and advising you on your next real estate deal.

Engel & Völkers 895 offices in 33 countries

Engel & Völkers is one of the world’s leading service companies specialized in the brokerage of premium residential property, commercial real estate, yachts, and aircrafts. Based in almost 900 locations, Engel & Völkers offers both private and institutional clients a professionally tailored range of services.

Consultancy, sales, and leasing form the core competences of the staff of more than 11,000 advisors and employees. Engel & Völkers is currently operating in 33 countries on four continents. Intensive training from our in-house real estate Academy and the high level of quality assurance governing its systematically structured service provision are key factors that account for the Company’s success.

is what you can & Völkers advisor

Providing unprecedented Völkers offers the Domestic & Global maximize online buyers worldwide strategic online and don’t stop there.

Smart marketing. Extensive exposure.

Giving you the EDGE.

than 11,000 real 30 countries, we consumers, but are able to Völkers advisors to buyers for the specific to sell your home

Engel & Völkers

Giving you the EDGE

Global reach with boutique style is what you can expect when working with an Engel & Völkers advisor here and around the world. Providing unprecedented reach of your property, Engel & Völkers offers the exclusive EDGE (Extensive Domestic & Global Exposure) platform designed to maximize online exposure of your listing to qualified buyers worldwide via a suite of highly trusted and strategic online and mobile marketing partners. But we don’t stop there. With a global network of more than 11,000 real estate professionals in more than 30 countries, we not only reach millions of consumers, but are able to collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek… like yours.

With a global network of more than 11,000 real estate professionals in more than 30 countries, we not only reach millions of consumers, but are able to collaborate with our fellow Engel & Völkers advisors to strategically handpick and refer buyers for the specific properties they seek … like yours.

Let us provide the EDGE you need to sell your home and begin your next adventure.

Newton Centre

Neighborhood Market Trends

Newton Centre Neighborhood Statistics

The Newton Centre village is right in the center of Newton where lovely homes are a short walk to bistros, restaurants, retail shops, churches, synagogues, schools, and a large park. Additional the Green Line “D” train provides easy access to downtown Boston with the Newton Center T station right on Union Street.

Over the past four years the number of homes sold and days on market fluctuated marginally. The ratio of sales to list price appears to have peaked slightly in 2018. Notably, the average sale prices have consistently increased every one of the past four years.

77 Union Street • Newton, MA • 02459 boston.evrealestate.com

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

West Newton Neighborhood Market Trends

West Newton Neighborhood Statistics

Living in West Newton offers residents a suburban feel. West Newton Square, the town center of West Newton, is home to many local businesses and venues. West Newton is served by the Commuter Rail and is roughly one mile from the Woodland station on the Green Line “D” branch. Residents also enjoy easy access to the Mass. Pike (I-90).

Overall the number of homes sold and days on market have risen. Over the past four years the average sale prices have fluctuate but increased slightly. The ratio of sale to list price, this is the amount buyers can expect to pay, has consistently remained between 96% to 98%.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Newtonville Neighborhood Statistics

Newtonville is a predominantly residential neighborhood. It is divided into two parts by the Mass. Pike and Commuter Rail. On the north side there are many restaurants, salons, shops, and stores. The southside is more residential. Newtonville is served by the Commuter Rail train station. Newtonville residents have access to numerous parks nearby.

The number of homes sold varies but days on market continues to remain in a strong range of 25-33 days. Over the past four years the average sale prices have fluctuate but increased slightly. The ratio of sale to list price, this is the amount buyers can expect to pay, has remained very high.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Newton Highlands Neighborhood Statistics

Newton Highlands is largely suburban outside the village and the commercial district running along Winchester and Needham Streets. There is an annual celebration in June called Village Day, that includes a 5K road race, crafts, small carnival, and local musicians. Newton Highlands is served by its own MBTA Green Line station, Newton Highlands Station.

The Newton Highlands neighbor continues to be in high demand. The number of homes sold and days on market have all remained tight and the ratio of sale to list price is consistently above 98%. The average sales price has gone up almost 37% in the past four years.

Auburndale Neighborhood Statistics

Auburndale lies at the western end of Newton with easy access to both highways I-90 and I-95. Known to longtime residents simply as “The Dale”, Auburndale is one of the primary villages within the city of Newton. Auburndale residents enjoy convenient public transit as it is served by both a Commuter Rail station as well as the Green Line’s Riverside stop.

While the number of days on market as risen, and the ratio of sale to list price has dropped, the Auburndale neighbor continues to be in highly sought-after even though there are signs of cooling. The average sales price has gone up almost 40% in the past four years.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Waban Neighborhood Statistics

Bordering Wellesley, Waban is located on the western side of Newton and its zip code (02468) is one of the most affluent and well-educated in the US. Like most of Newton, there isn’t a high turnover rate of homes, so getting into this community can be difficult. Waban center has a Commuter Rail station, and is also served by the Woodland and Eliot stations.

The Waban neighborhood remains strong. While days on market has increased over the past four years, sales price have consistently risen (14%), and the ratio of sale to list price has remained between 97%-99%.

Boston

Neighborhood Market Trends

Boston Neighborhood Statistics

Boston, one of the oldest cities in America, is rich with history, culture, and experience. As Massachusetts’ state capital, you can feel a part of our nation’s pride, both past and present. Comprised of many unique and diverse neighborhoods, there is a place for everyone to feel at home here in Boston.

Whilethenumberoflistingsoldanddaysonmarkethavefluctuated,Bostoncontinuestobe highlysought-aftereventhoughthemarkethasreachedequilibrium.Theratioofsaletolistprice hasdroppedto99%. Theaveragesalespricehasgoneupalmost24%inthepastfouryears.

77 Union Street • Newton, MA • 02459

boston.evrealestate.com

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Brookline Neighborhood Statistics

Brookline is an independent city just west of and largely surrounded by Boston. It is desirable for its quality schools and ease of access to downtown Boston. Similar to Boston, it is a city of neighborhoods. Northern Brookline tends to be more urban and is accessible by the Green Line transit rail while the Southern section has a much more suburban feel.

In Brookline the days on market has decreased while the ratio of sale to list price has gone up and leveled off at 100%. The average sales price has fluctuated but gone up an average of almost 10% in the past four years.

Cambridge Neighborhood Market Trends

Cambridge Neighborhood Statistics

Cambridge is located directly across the Charles River from Boston. Known for being home to two of the world’s leading educational institutions, Cambridge holds a wealth of knowledge within its borders. Cambridge is home to many international restaurants, pubs, music houses, dance clubs, boutiques, and cafés.

Cambridge continues to be one of the hottest markets in the state. The days on market remains somewhat low while average sales prices continue to rise. They have gone up 17% in the past four years. The ratio of sale to list price is still well above 100%.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Watertown Neighborhood Statistics

Watertown is just west of Boston and borders Brighton, Cambridge, Newton, Belmont, Waltham and the Charles River. Watertown has one of the largest Armenian populations in the United States. Watertown is served by several MBTA bus routes and Soldiers Field Road and the Massachusetts Turnpike, major arteries into downtown Boston.

Watertown real estate is in high demand partly driven by to its affordability factor. The days on market has remained low and sales price have risen 10% over the past four years. The ratio of sale to list price, this is the amount buyers can expect to pay, has been at or above 100%.

Waltham Neighborhood Statistics

Waltham is located about 11 miles west of downtown Boston 3 miles northwest of Boston’s Brighton neighborhood. Waltham has a rich history and thriving downtown/Main Street with a Common, churches, library, post office, retail, banks and restaurants. The city stretches along the Charles River and contains several dams. Waltham is accessible by I-95 and route 20.

Waltham real estate is also driven by high demand due to its affordability factor. Over the past four years average sales prices rose 20%. The number of days on market is consistently good. The ratio of sale to list price remains at 100%. This is the amount buyers can expect to pay.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Weston Neighborhood Statistics

TheTownofWestonisanattractivesuburbancommunityabout15mileswestofBoston.Residents areveryproudofthetown’sschoolsystemandthehandsomehomesinquietwellkeptneighborhoods but tend to brush off the town’s reputation as one of the most affluent communities in the state. About 18% of the town has been preserved as parks, fields, wetlands, and forests.

Weston is one of the most sought after places to live in the country. Average sales prices have fluctuated marginally. The days on market has consistently decreased over the four years and the ratio of sale to list price has remained between at 94%.

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Wellesley Neighborhood Market Trends

Neighborhood Statistics

Wellesley is known as an affluent neighborhood and it has one of the highest median household incomes in the state. Wellesley has ranked #1 Best Places To Live by Boston Magazine and ranked #2 America’s Most Educated Small Towns by Forbes. It is easy to reach due to its close proximity to I-90, I-95, and Route 9. Additionally there are 3 MBTA Commuter Rail stops.

Wellesley is a highly desirable market. Over the past four years the number of days on market has dropped while average sales price continually rose. They have gone up 12% in the past four years. The ratio of sale to list price continues to hover between 97% - 98%.

77 Union Street • Newton, MA • 02459

Wellesley

Data per MLSPIN: Listings Sold includes single family, multi family, & condos; otherwise graph represents single family homes excluding auction sales.

Needham Neighborhood Statistics

Needham has easy access via I-95 as well as four Commuter Rail stops. In addition to Wellesley on the northwest, Needham borders Newton and the West Roxbury section of Boston on the northeast, and Dover, Westwood, and Dedham on the south as well as the Charles River.

Needham is another sought after suburban community. Over the past four years the number of days on market has dropped, then rose. Average sales prices leveled off in 2019 but still reflect a 19% increase over the past four years. The ratio of sale to list price remains between 98% - 100%.

As the below graph indicates, rates are at historic lows and time to buy, sell, and invest in

Homeownership is really the way to build wealth and a drop in rates effectively makes priced house from a year ago 10% cheaper today in monthly payments.

indicates, mortgage and it is a great in real estate.

the single best one percent makes the sameago more than monthly mortgage

The big question:

ShouldIbuyahouse?ThatisthequestiononAmericans’ minds—literally, Google search data shows.

Since the beginning of March, Google users in the U.S. also searched “Mortgage loan” more than they did any month prior, double the rate of searches in February. The phrase “Mortgage rates today” also reached its alltime high last week on Google Trends.

Searches for “Should I buy a house” and “Mortgage rates today” peaked on March 3, and searches for “Mortgage loan” peaked on March 4, following the Federal Reserve’s sudden move to cut interest rates by 50 basis points to combat the economic impact of the coronavirus. The 30-year fixed mortgage rate fell to a recordlowof 3.29%lastweek,accordingtoFreddieMac.

Engel & Völkers Cares

Engel & Völkers is a proud champion of Special Olympics, specifically focused on creating more inclusive communities through its Athlete Leadership and Play Unified programs. We are committed to giving back to and investing in the neighborhoods our clients desire because these too are the places in which we live, we play and we raise our families.

Special Olympics athletes contribute to our story. From them we learn to think differently and realize what we can accomplish. As individuals and local brokers, together and across time zones, it’s a common good that unites us. Every hour given, every dollar donated, every kind word spoken and every door opened creates opportunities for those who need it most. We believe that in order to lead, we must empower others to do the same.

Ask how our shop specifically contributes to this amazing cause.