Thinking of buying a home in Newton, Massachusetts? Not only will your new condo, townhouse, single-family home or duplex provide you with a great place to live, it will also be a valuable investment.
The Newton real estate market is hot. There’s been a 16 percent increase in median home prices in Newton over the past year alone, and the median value of a home in this well-appointed residential community just outside Boston is now $970,900. In 2017, on average, Newton real estate has been priced at $521 per square foot, which is an increase of $60 per square foot in just one year.
A City of Villages
Newton’s public schools are outstanding, and the city has many convenient public transportation options. Unlike many suburban cities, which tend to spread out from a single center, Newton is really a patchwork of villages. Each village functions as a unique neighborhood with its own post office. No matter which neighborhood you choose to live when you move to Newton, you’ll never be too far away from the fine restaurants, interesting shopping venues and dynamic cultural opportunities of a thriving downtown.
Chestnut Hill is home to Boston College, and the neighborhood’s tree-lined streets sport many architect-designed houses, built in the period between the 1850s and the early 20th century in Shingle, Colonial Revival, and Georgian Revival styles. The old Atrium Mall has reinvented itself as a deluxe Life Time Center fitness facility with seven fitness studios and a full-service spa. Chestnut Hill’s public schools are some of the best in Massachusetts, and you’ll have your choice of the MBTA Green Line’s B line, C line and D line when you want to make a trip into Boston.
The average price per square foot for homes in Chestnut Hill is $551, which is an increase of $73 over 2016 square foot prices. In the past five years alone, the median price of a home in Chestnut Hill has risen more than 50 percent to $980,000.
“The Dale”, as Auburndale is affectionately known to its residents, sits right along the east bank of the Charles River. A number of Auburndale properties are Registered Historic Sites. Its public schools are outstanding, and its transportation needs are served by the MBTA Commuter Rail Framingham/Worcester Line with a station right next to Lasell College and the Massachusetts Turnpike.
The median listing price of a home in Auburndale is $950,000. Price per square foot has remained approximately the same over the past year: In 2016, it was $462; in 2017, it was $459.
If Newton has a heart, that heart is Newton Centre where the Newton City Hall and War Memorial is located. Boston residents make special trips to Newton Centre to spend money in the upscale shops and fine boutiques that line Beacon Street, Centre Street and Langley Road. In 2017, the median sales price for homes in Newton Centre was $1,665,000. The median price per square foot was $523.
In 2013, when “The Washington Post” ranked zip codes by affluence, Waban’s zip code was third from the top on their list. Waban’s residential streets are filled with stately, historic houses. Its downtown sports comparatively few shopping opportunities although an abundance of restaurants and stores are just a quick drive away in one of Waban’s sister villages. While the average price of a home in Waban has declined $100,000 over the past year, the average price per square foot has risen from $515 to $571. This would seem to indicate that Waban real estate is as much in demand as ever but that people are buying smaller homes.
Another primarily residential community within Newton is Oak Hill, which is sometimes referred to as Oak Hill Park. Although you’ll see many historic homes on your strolls along Oak Hill’s streets, this may be the part of Newton that has the highest number of contemporary homes. Newton South High School, which is the primary secondary school in Oak Hill, has such a sterling reputation that many families move here when their children are still toddlers to help ensure their children’s academic futures. Median home sale prices over the past year have risen by $142,500, which is a factor of 12 percent. During this same period, the average price per square foot rose from $469 to $579.
Newton Corner cozies right up against Boston’s city limits, and I-90, the Massachusetts Turnpike, runs right through it, which makes it a great place to live for anyone whose employment depends upon commuting to one of the places lying west of Beantown. Newton Corner also sports one of the liveliest commercial districts in all of Newton.
Unlike many of the other villages that comprise Newton, Thompsonville does not have a discrete town center. That doesn’t stop Thompsonville from being a highly desirable place to live. On average, median home sales in 2017 were $93,000 higher than they were in 2016 while the average price per square foot for a home in Thompsonville rose from $489 to $573.
Needham Street is the happening thoroughfare in Newton Highlands. Not only does this boulevard have great cafes, quality antique stores and other interesting shopping venues, it hosts the New England Mobile Book Fair and the China Fair. Needham Street is also the site of a Village Fair every June, which features crafts, local musicians and local gustatory delicacies.
Since Newton Highlands was an agricultural area until relatively recently, this village also boasts more contemporary homes than are typically found in other parts of Newton. It’s one of the area in Newton where real estate values have shown the highest growth, too. The median sales price of homes has shot up $182,500, and the price per square foot has risen from $467 to $550.
Newton Upper Falls
Newton Upper Falls has the highest density of historic homes of any Newton village. It’s also the site of the spectacularly beautiful Hemlock Gorge Reservation, which is one of the first examples of wilderness preservation in the area near Boston. While the sales price of median homes has fallen in the past year, the average price per square foot has risen from $432 to $504, which reflects the fact that Newton Upper Falls is a very desirable place to live.
Newtonville is bisected by the Massachusetts Turnpike and by the MBTA commuter rail that parallels it. On the north side of the turnpike, you’ll find Washington Street, which is a thriving commercial thoroughfare that’s crowded with restaurants, cafes, fitness centers and other lifestyle businesses. The south side of the turnpike is more residential. Newtonville is another part of Newton that was agrarian well into the 20th century, so the houses you’ll find here are more likely to be modern homes.
NonantumThe village has a number of historic houses and commercial buildings that were constructed during Newton’s industrial boom back in the 19th century. This area is sometimes known as “The Lake” after a body of water that was built over in the 1970s.
West Newton is one of the oldest of Newton’s villages. It has a number of homes and buildings that date all the way back to the 17th century. It also has some of Newton’s most convenient public transportation since it’s served by express buses providing transportation to both Boston and Walton as well as by the MBTA commuter line. The median sales price of a home in West Newton increased $130,000 or a whopping 17 percent between 2016 and 2017. The average price per square foot increased from $444 to $531 in this same period.
Condos in Newton
If you’re tired of yard performing yard maintenance in the summer and snow removal in the winter, you may be interested in purchasing a condominium or townhouse in Newton, Massachusetts. During the first six months of 2015, the median sales price for condo units in this area was $597,400, which is an increase of nearly 25 percent over 2014 prices. New condominium developments with a variety of floor plans can be found in Chestnut Hills, Newtonville, Newton Centre and Newton Highlands.