During 2017, real estate activity in Needham saw a small decrease in total sales volume but a slight increase in average sales price.
There was a 20% decrease in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Needham in 2017. 6,113 land documents were recorded versus 7,656 in 2016.
The total volume of real estate sales in Needham during 2017 was $607,709,530, a 1% decrease from 2016. However, the average sales price of homes and commercial property was up 2% in Needham. The average sale price was $1,150,965.
The number of mortgages recorded (1,350) on Needham properties in 2017 was down 32% from the previous year. Total mortgage indebtedness decreased 39% to $793,739,360 during the same period.
There was 1 foreclosure deed filed against a Needham property during 2017, a 67% decrease from the previous year when there were 3 foreclosure deeds filed.
Finally, homestead activity decreased 4% in Needham during 2017 with 597 homesteads filed compared to 623 in 2016.