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So, you’re thinking of moving to Newton, MA. We don’t blame you! This place is one of the most charming and incredible communities in the entire state of Massachusetts. However, it may not have the exceedingly large population that you’ll find in cities such as Boston or Worcester. Still, it’s got plenty to make up for that fact. Want to learn more? Let’s ask one of the local real estate agents in Newton MA!
We’ve got some bad news for you unless you’re very, very well off regarding financial resources. You’re probably not going to be able to buy a house in the city of Newton. While there are certainly a small number of more affordable homes on the market, outrageously expensive homes define the area. That’s not coming from us; we’re getting this directly from the horse’s mouth, i.e., local real estate agents in Newton MA!
There are certainly more expensive real estate markets in the country, but there aren’t a lot of them! Those who have their hearts set on making this city their home will have to shell out a sum somewhere in the neighborhood of $1.3m on average. By working with local real estate agents in Newton MA, you’ll likely be able to get a better deal, but you’ll still end up paying a fortune to live here.
Here is a little trivia. As of December 2021, property prices in Newton skyrocketed by approximately 15 percent compared to 2020. Also, in October 2021, the median home sale price was just about $980,000. So, they increased by about $300,000 in just a couple of months! However, real estate in Newton is in high demand. Properties sell after 19 days, on average, on the market. Last year, the listing-to-sale period was 30 days on average. Real estate statistics point out that houses in Newton are pricier by about 131 percent than the Massachusetts average. Thus, we can most definitely confirm that the Newton housing market is exceptionally competitive at present.
As far as investment value goes, realtors in Newton MA, generally are pretty optimistic that one can make a very sizable profit off a home purchased here. With a median property appreciation rate of roughly 10% annually, you’ll have to sit on your investment for a little while before you can expect it to turn a profit. Be sure, however, that you contact local real estate agents in Newton MA when you’re ready to sell!
Because most homes here sell for sums more significant than the GDP of a small country, renting is likely to be your best option if you’ve got your heart set on making Newton MA your home. According to realtors in Newton MA, the rent prices are substantially higher than the national average.
At an eye-watering $3,200 a month, rentals in Newton, MA, are not precisely for those without excessive financial means. It all adds up that rental prices in Newton have increased extraordinarily and are pricier by 53 percent than the average rental units in the state at the present moment. With the help of local real estate agents in Newton MA, you might be able to find accommodations that don’t cost an arm and a leg. If you’re lucky, you might find a landlord that only demands a finger or toe! We’re kidding, of course! Still, here comes the punchline. If your salary isn’t above the $6,000-per-month mark, Newton probably isn’t the town for you!
In terms of floor space, it would seem that square feet here are made out of gold! With an average square footage of roughly 1,050 sq. ft., only the most financially well-off can expect to live here comfortably! According to realtors in Newton MA, the average price-per-square-foot in a rental property in Newton is $3.
As you would expect, the local economy is sure-footed. People will easily find jobs with a relatively low unemployment rate of 4.1 percent, instead of the 6 percent US average. There’s been a positive trend in recent job growth by 4.3 percent in Newton in the latter half of 2021. Also, specialists expect more dynamic future job growth in 2022 by 42 percent, instead of the national average of 33.5 percent. The average household income of approximately $151,000 reflects a thriving local economy. Well-paying local jobs can compensate for the expensive home prices and the high cost of living that is about 115 percent more expensive than in the rest of the US.
Newton is an exceptional residential community and a booming business-friendly location. The local government supports small business owners and companies, investors alike. The most renowned companies with regional headquarters are The RMR Group Inc., Upromise, Rockport, CyberArk, and TechTarget. The largest employers in Newton are the following two: Newton-Wellesley Hospital and Boston College.
The city revels in colorful open-air and indoor activities all year through. Hemlock Gorge Reservations and Hammond Pond Reservations are the top two leading wildlife sanctuaries you can’t miss. For history enthusiasts, we recommend visiting Jackson Homestead Museum! Besides, Mary Baker Eddy Historic House is a must-see for its genuine historical exhibits. Spend an evening with your loved ones watching a spectacular film at Showcase Super Lux Movie Theater! Did you always want to learn to paint? You can do it now at The Paint Bar in a relaxed atmosphere! Experience the ultimate recreation at the Inner Horizon Spaworks! Jump N Slide provides plenty of quality family entertainment.
If you’re ready to move to Newton, prepare yourself to be overwhelmed by countless artistic and cultural venues, organizing first-class social events. Besides, the city prides itself on its many historical interests. The educational system is also top-notch, making Newton the perfect relocation destination for families. Also, the community is friendly and welcoming. And, let’s not forget the low crime rates! On the downside, traffic can be slightly annoying. Locals also expressed their criticism for the soaring cost of living.
Before moving to Newton, one must consider the place’s perks and disadvantages. However, it seems evident that Newton is a city best suited for those with the means to live above the less luminous conditions of other locales in the US. It’s expensive, but that extra cost secures numerous enticing benefits for anyone planning to make the place their home. If you’re not convinced, get in touch with one of the realtors in Newton MA. They’ll win you over in no time!