Newton home sales rise during November

The housing market has been hit by the economy in recent years but a slight rebound was shown in November when Newton home sales surpassed those in 2008.

In the first 11 months of the year, 237 residential properties with Newton addresses have sold compared to 231 in 2008, according to the most recent statistics released by the Newton Board of REALTORS.

Deb Cross, president of the Newton Board of REALTORS, attributed the climb in home sales to the stimulus tax credit, which offers first-time home buyers up to an $8,000 tax credit to purchase a home.

“Closed sales for November 2009 were up considerably with the help of the tax stimulus. Cross said.

The 2009 year-to-date figure was bolstered by 24 homes sold/closed in November. The number of homes sold in November 2009 rose by nearly 150 percent compared to 2008 when only 10 homes sold.

The average sales price of $99,171 for 2009 is just $697 less than the average sales price in 2008.

Although things are going well, Cross said she won’t be surprised if the housing market cools with the temperature during the holiday season.

“As always, around the holidays things naturally slow down until after the first of the year,” she said.

Cross said although things will slow down due to the holidays, the Newton Board of REALTORS is looking for the new year to see more home sales with the expansion of the tax credit program.

“Since it has been extended until the end of April 2010, things should be looking up for 2010,” Cross said.

Jessica Lowe can be contacted at 792-3121 ext. 426 or via e-mail at jlowe@newtondailynews.com.