Susie Shortsleeve Reports on Weston's Spring Real Estate Market

March 22, 2013 - PRLog -- Spring is here! Normally in February we see many future home sellers preparing their homes for the Spring Market. February is not normally the most robust month for real estate transactions, but can give us a window into the over climate of the market.

Nine single family homes were sold this past month in Weston, MA. There are another 8 under agreement, waiting to close. Currently, 79 homes remain on the market and sales are up for the month of February nearly a third compared to February 2012.  This is great news for sellers!

The following transactions represent both ends of the extremes, but the averages paint a better picture of the market during this time frame. The range of homes sold this past month include everything from a  four bedroom two full bath listed for $735,000 which actually sold for a higher price of $802,750 to a five bedroom four full and one half bath listed for $1,790,000 and sold for $1,707,500. The average listing price of a single family home sold during February was $1,310,333, while the average sale price was $1,228,917. That is only about a 6% differential, which means sellers are able to get close what they are asking for, on average. That is a very powerful statistic as properly pricing a home in today’s market is crucial to its sales success.

The average days on market for single family homes in Weston this February was 125, however, 4 of the 9 homes or about 44% of the properties that sold in February 2013, sold in 85 days or less. The average amount of time a home sat on the market was 125 days; almost half of the homes bought sold well under that average. This statistic is very important because it shows that the homes correctly priced sell quickly as well as the fact that there are buyers out there!

Buyers should be conscientious of the asking price when putting down an offer. Finding a home that suits your needs, wants and desires includes a great price.  Buyers, who have been used to a buyers market for some time, need to be conscientious when making offers.  If your bid is too low, you likely won't get the home, especially if there is competition.

February is typically a slower month for real estate, but Weston did quite well. The market is only going to pick up. Inventory is currently low, so if you have been thinking about listing your house, now is a prime time.