Wellesley MA Single Family Housing Report May 2016. Statistics are shared from MLSPIN the Greater Boston Area MLS. Real estate MA is not the same all over. Each town has it’s own statistics. This shows what happened in the last month in Wellesley, MA.
239 listings in all categories, Active, Contingent, Under Agreement, Sold, Expired and Canceled. This covers Wellesley in all the price points. Single Family Active Listings: 164 Avg. Liv.Area SqFt: 4,593.34 Avg. List$: $2,172,009 Avg. List$/SqFt: $479 Avg. DOM: 110.70 Avg. DTO: 30.46
Single Family Under Agreement Listings: 42 Avg. Liv.Area SqFt: 3,452.64 Avg. List$: $1,592,688 Avg. List$/SqFt: $452 Avg. DOM: 100.57 Avg. DTO: 75.48
Comparing the Active listings which includes those that are Contingent you have a higher list price and longer period of time on the market. The shorter period of time to offer (DTO) for the Active versus the Under Agreement is because properties in today’s market that are priced to be a value to the Buyer are getting sold quicker and often for more money. There properties go fast, 30.46 is a great number. Pity the poor Seller who continues to over value their home and sit on the market for months at a time.
Single Family Sold Listings: 22 Avg. Liv.Area SqFt: 2,934.55 Avg. List$: $1,161,405 Avg. List$/SqFt: $416 Avg. DOM: 65.59 Avg. DTO: 37.00 Avg. Sale$: $1,146,750 Avg. Sale$/SqFt: $418
22 homes were sold, 164 homes are active in this period of time. This means there is 7.45 months of inventory on the market which is over the normal market of 6 months inventory. Now more than ever it is important to price your home at a value compared to the others on the market with you. That is the surest way to get your home sold in a Buyer’s market.
Single Family Expired Listings: 4 Avg. Liv.Area SqFt: 3,222.75 Avg. List$: $1,352,250 Avg. List$/SqFt: $415 Avg. DOM: 121.50
Single Family Canceled Listings: 7 Avg. Liv.Area SqFt: 4,623.29 Avg. List$: $1,980,857 Avg. List$/SqFt: $418 Avg. DOM: 179.43
Including the Expired and Canceled listings provides in insight into homes that were not sold. It is interesting to note that the Ave Sq Ft price of the Expireds is less that the Ave.Sal/SqFt of the Solds this month. We would have to look at the properties to understand why this is true. This has been the Wellesley MA Single Family Housing Report May 2016