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What's Happening in Wellesley Real Estate

A look at the state of the Wellesley Real Estate market from the perspective of a Real Estate agent.

 
PRLog - Oct. 29, 2012 - Wellesley's housing market was booming in the last thirty days, with 32 single family homes sold. The average listing price of these homes was $1,271, 887 and the average living area of the homes sold was 3,095.25 square feet. The average cost per square foot for the listing price of these homes was $404 and these homes were on the market for an average of 139.38 days.  

The sales prices were not that far off the listing prices with the average sale price being $1,202, 341.  This is, on average, 95% of the asking price which means sellers are getting very close to what they are asking.  This is quite a different story than what has been broadcast in the news over the past few years.   Additionally, the average cost per square foot for these sold homes came in at $387 – just $17 off the per square foot asking price.  These figures indicate a shift in the market, where sellers are more in control.  If you have been sitting on the fence, the data suggests that it is a good time to sell.

The homes sold ranged from a 13 room, 6 bedroom, 7 full and two half bathroom English country manor that sold for $4,756,000 to a 6 room, 2 bedroom, one full bath cottage that sold for $155,000. The list price for the cottage was $199,000 and the list price for the colonial was $4, 999, 000.   This wide range shows that there truly is something for everyone here in town.

If you're interested in what is currently available, we've got 127 single family homes listed for sale. These range from a 7 room, 3 bedroom, 1 full bath and one half bath colonial on sale for $645,000 to a 19 room, 7 bedroom, 7 full and two half bathroom colonial on the market for $14,500,000.  Of these homes for sale, there are 15 that have active offers which have been accepted.  Another seven homes are under agreement, which means a purchase and sale has been signed and they are simply waiting to close.  

With the market on the upswing, and fall being a glorious time to showcase a home, we encourage those who have been sidelined in this downed market to take action – odds are good you'll come out better than you expected.  

If you have any questions about the market in Weston or Wellesley feel free to give me a call!

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