With only 1.5 months of inventory, Newton remains a seller's market. Home prices have decreased 14.9% in the past month. At the current pace, all available homes in Newton would sell out in just 1.5 months, indicating a continued supply shortage. Homes are now taking an average of 40 days to sell, significantly longer than the 24 days typical for this market. A significant 23.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 22.8% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Newton market with the affordability index at 92.7. Based on current market indicators, home prices in Newton are projected to decrease by approximately 5.9% over the next month.
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