Newton, MA Real Estate

Single Family Home Market

Large, roomy homes make up a substantial portion of the housing market in this city. Four and five bedroom houses are common, and many of them were built between 1900-1920, although several newer developments have recently completed construction. The median price per square foot for a home in this area is $450, and most homes come with a large lot or yard which often include outbuildings or attached garages. Two car garages are popular in this town.

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Many of the homes in this region, whether they were built in 1880, 1992, or 2017, have two or more stories, and favor a relatively open layout on the first floor, with a concentration of bedrooms and bathrooms on the upper floor. Architecturally speaking, gabled roofs are common, giving way in some cases to cathedral ceilings in the interior. Older properties have frequently undergone a remodel that has increased the size or number of windows, adding double or triple-pane glass and creating rooms that are flooded with light. In some cases, entire walls have been transformed into glass, adding splashes of modernity to Victorian era construction.

One of the most spectacular features in these homes is the great room, which in contemporary houses usually features a sleek fireplace in one corner, built-in bookshelves in another, with skylights or a mezzanine-like arrangement toward the ceiling creating a powerful and aesthetically impressive cascade of light. In older homes, the great room may be a modern construction, with walls that formerly demarcated the living area from the dining area from the kitchen being removed or altered to create uninterrupted sight lines from room to room. Artful banks of windows often ring reading spaces or sitting areas. Regardless of how they were formed, the great rooms in these houses invariably feature access to an outdoor deck or patio area, which makes excellent use of the surrounding yard or lot. Many homes add gardens or special exterior planting boxes to create a serene yet varied array of foliage.

Most of the kitchens in homes of 1,000 square feet or more feature a separate kitchen island, which is large enough to accommodate several seated guests on the side that faces toward the living area. The kitchens themselves tend to favor a white color palette that is interspersed with stainless steel or chrome appliances. In some kitchens, a separate steel kitchen vent hangs over the oven, adding a note of industry. In terms of interior design, some of the homes favor exposing older elements, such as brick walls, or the original timber beams, while others feature only plaster walls. Almost all of the homes have some form of a hardwood floor. In contemporary homes, these hardwood floors are made of slender planks that have been varnished. In older homes, the planks are often wider and of rarer woods, owing to the specific period of their construction. The bathrooms, meanwhile, display a range of beautiful new fixtures and inventive takes on both showers and elegant bathtubs. If a home has high ceilings, many of the showers take advantage of this fact by lengthening their surrounding glass walls, creating a mild atrium effect. In master bathrooms, it is not uncommon for a bathtub to be located near a panel of windows, creating a grand, yet private platform for bathing and viewing the exterior grounds.

Condo/Townhouse Market

The average price for a condo in this city ranges between $400 and $500 per square foot. Townhouses are not as prevalent here, although they do occasionally come up for sale. Unsurprisingly, smaller condos tend to have a higher average purchase price per square foot than larger ones. The market offers roughly as many 1,000 square foot or smaller condos as it does 2,500 square foot and above units. Two bedroom units are common, although four bedroom suites make up a substantial portion of the listings. In keeping with the construction trends within the area, many properties were built in the early 20th century, although a spate of newer properties has started to make its way onto the listings. Monthly association fees can add an average of another $150 to $300 per month to the overall price of these condos.

Many of the condos in this region favor a clapboard exterior with a grand front entrance, usually with a colorful central door. A select number of properties feature elaborate bay windows on the corner, while most favor a more traditional rectilinear layout with clearly visible chimneys demarcating one side. However, most of them do span two stories or more, and are sited on lots that feature small private gardens or open lawns. The interiors of the condos usually feature hardwood floors in the living areas and tile or linoleum in the kitchen and bathrooms. Recessed lights are a frequent choice, although track lighting does occasionally appear. In the more expensive condos, custom light fixtures, including wall mounted sconces and elaborate hanging fixtures such as chandeliers, illuminate the premises. Wooden staircases leading to the second floor are also a common amenity. In most condos, the stairs form a straightforward linear progression up; however, in some units, the stair cases have multiple landings and occasionally open up into a mezzanine or other extensive space that can be ornamented with furniture or other decorative objects. Spiral staircases occasionally are part of the layout. This region does have a higher number than average of attic spaces. These spaces are often unfinished, with bare wooden beams forming an “A” shape over a bare wooden floor. These spaces can be used for storage or as an impromptu office or guest bedroom.

The density of the town means that most condos are located within walking distance of numerous restaurants, businesses, and shops. While balconies are common, large yards are usually not part of the typical condo complex. However, most condos are located close to a public park or other accessible green space. Many of these properties also provide an attached garage or underground parking. Central air and oil heating are the principal methods of interior climate control. Some condos have been fashioned out of older single family homes, providing different amenities than a traditional complex. These renovated condos usually have access to a yard, and are located in slightly quieter residential neighborhoods, as opposed to being in the thick of downtown. They also tend to be slightly roomier, and have more dramatic ceilings than a traditional complex.

Apartment Market

Whether an investor is looking to buy or rent an apartment, the market in this city is vibrant and competitive. It’s rare that an apartment listing remains available longer than two weeks. The average rent per square foot per month in this city is $2.20, while the average purchase price per square foot for an apartment is $350. Part of what makes this market so hot is the fact that many apartments have been created out of stellar single family homes, providing them with a number of luxurious amenities. Some properties feature elaborate stone retaining walls that lead up to the front entrance, while others have a perimeter of elaborately manicured shrubs and hedges along an ample exterior yard. Many of the apartments in this area were originally constructed around 1920.

The majority of apartments in this area have some small balcony or deck that usually has a privacy wall. This gives tenants the opportunity to enjoy the outdoors in all seasons, as well as maintain a small array of plants or other items on the balcony. The interiors of the apartments traditionally boast newly renovated kitchens with stainless steel appliances and an enormous amount of counter space for food preparation. Depending on the unit, the kitchen may also feature elaborate tile work on the walls, creating a mesmerizing backdrop for both residents and guests. Kitchen islands are not as common as they are in condos in this area, but some units do have them. Vertical washers and dryers are common here; in some units, the two appliances are located in a closet-like space to maximize the footprint of available space.

Depending on the age of the property, wood detailing can become an integral part of the interior decor. Interior window frames lined with dark wood trim as well as custom cabinetry made from an assortment of oak, pine, and mahogany create a delightful contrast between the bright plaster walls and the varnished wood. The staircases in this city also tend to showcase a colorful array of woods, from the intricately carved banisters to the thick treads to the oiled, gleaming risers. In general terms, apartments built around 1900, especially those that have been fashioned from single family homes, feature a varied number of wood types throughout the house. During remodels, many owners choose to retain these woods in order to display the beauty of the original decor scheme. Newer apartments tend to incorporate more plaster, glass, and steel, relegating the wood to the floors and kitchen cabinets. However, almost all apartments, especially those that are located near the top floor, try to include skylights in order to brighten the interiors during the long winters in this region.

It’s worth noting that older apartments will generally include vintage fireplaces, while newer units have either central heat only or a fireplace that can’t be directly fed with logs. The vintage fireplaces do not turn on automatically, instead requiring kindling, raw wood, and mesh screens to protect the surrounding furniture from flaming embers. The fireplaces in the newer apartments are traditionally covered with a glass screen that can only be removed by a technician.

Notable City Features

Newton is one of the most desirable neighborhoods in the greater Boston area in which to own property, primarily because it is so conveniently located near several major universities and cultural institutions. Although the housing stock in this city is pleasantly divided between numerous types and sizes, the town also claims some of the largest and most luxurious single family homes in the region. In 2017, several mansions in the area were placed on the market for prices ranging from $1.4 million to $4.1 million and above. Many of these homes have six bedrooms or more, with a matching number of bathrooms, as well as magnificent great rooms, kitchens, and outdoor spaces. Some of the mansions featured custom wine cellars and onsite pools.

In 2017, a 4,300 square foot, three level townhouse sold for $1.89 million dollars. The unit featured an unusual and compelling array of features, including an elevated walkway that had full length glass panels as banisters, an enormous living space that included a recessed ceiling with a rotating fan, a fireplace with a polished granite facade, and a master bathroom with both a full, atrium-like shower and a massive bathtub. The floors were made of a mixture of white hardwood and elegantly finished tile, while the exterior patio was enclosed by a steel guardrail undergirded with glass panels. This exceptional property was noteworthy for several reasons; the area traditionally has more condos than townhouses, and the property was brand new, bucking the trend for older, renovated housing stock.

This trend continues to have legs, as one of the most expensive residential properties in the area is from a much older period. In February of 2018, the city’s oldest home, portions of which were built in 1714, was placed on the market for $2,599,000. The 6,321 square foot property had seven fireplaces, seven bedrooms, and pine floors made from 14 inch planks. With two stories and a number of modern additions, including a newly redone kitchen and bathrooms, the property is located on a 26,000 square foot lot.

Currently, the city is undertaking a Zoning Redesign Project which is intended to create new guidelines for both the development and redevelopment of properties in the area. The zoning regulations will be designed according to a new understanding of “context.” In this case, the town hopes to add new structures and permit the redevelopment of existing properties in accordance with the urban fabric of both the existing village centers and residential neighborhoods. In 2017, the city also passed an ordinance allowing the construction of accessory apartments, which are described as being “subordinate to the principal dwelling unit.” These apartments must meet five basic requirements, including providing a non-subsidized form of housing that is principally below market. They must preserve historic buildings, and also provide flexibility for families to grow and change. Currently, the construction of only one accessory apartment is allowed per residential lot, and each apartment can only have one principal entrance facing the street.

Newton Condo Developments

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