During the 3rd quarter of 2019, real estate activity in Needham saw decreases in both total sales volume and average sales price.
There was a 16% increase in the number of land documents recorded at the Norfolk County Registry of Deeds from the town of Needham during the 3rd quarter 2019. 1,864 land documents were recorded versus 1,602 during the third quarter 2018.
The total volume of real estate sales in Needham during the 3rd quarter 2019 was $217,531,397, a 24% decrease from the same time period in 2018. Also, the average sale price of homes and commercial property decreased 25% in Needham. The average sale price was $1,302,583. These percentage decreases were impacted by a $96.5 million commercial transaction that was recorded in July, 2018.
The number of mortgages recorded (465) on Needham properties during the 3rd quarter 2019 was up 58% from the previous year. Also, total mortgage indebtedness increased 66% to $343,813,278 during the same period.
There were 0 foreclosure deeds filed against Needham properties during the 3rd quarter 2019, the same number filed during the 3rd quarter 2018.
Finally, homestead activity increased 4% in Needham during the 3rd quarter 2019 with 173 homesteads filed compared to 167 during the same time period in 2018.