Wellesley Single Family Market Report Jan 2020. This report is gathered from the last 30 days of activity in Wellesley, MA. It comes from MLSPIN, the MLS for this area around Boston. While monthly reports are very helpful when your property is about to go on the market and while it is on the market it is not of value when you have no plans to move. Properties thought out the country as still appreciating, interest rates are still historically low. So, in the last 30 days there have been 83 properties on, or in the market.
Single Family New Listings: 3 Median Liv. Area SqFt: 4,248 Median List $: $1,625,000 Median List $/SqFt: $439 Median DOM: 2
Single Family Active Listings: 39 Median Liv. Area SqFt: 4,804 Median List $: $2,200,000 Median List $/SqFt: $480 Median DOM: 116
Single Family Price Change Listings: 1 Median Liv. Area SqFt: 6,800 Median List $: $2,995,000 Median List $/SqFt: $440 Median DOM: 135
A total of 43 available properties. Average days on market is longer than we have seen in a while. Yes, it is winter, but the market in some areas is acting like Spring, so we will have to wait another 30 days to see what is happening in Wellesley.
Single Family Contingent Listings: 6 Median Liv. Area SqFt: 3392.5 Median List $: $1,470,000 Median List $/SqFt: $453 Median DOM: 77 Median DTO: 72.5
You see the lower days on market here for these properties that are moving towards the sale. If you are planning on selling, expect to spend at least 2-3 months on the market. This is good for buyers who are ready to close because that makes you more attractive to those who want to or need to close.
Single Family Under Agreement Listings: 7 Median Liv. Area SqFt: 3,236 Median List $: $1,695,000 Median List $/SqFt: $490 Median DOM: 99 Median DTO: 99
With 7 UAG and 6 CTG that makes an average of 13 houses sold in a month.
Single Family Sold Listings: 15 Median Liv. Area SqFt: 3,076 Median List $: $1,465,000 Median List $/SqFt: $482 Median DOM: 21 Median DTO: 8 Median Sale $: $1,401,000 Median Sale $/SqFt: $479
And so this is two months where the inventory going Sold is say 14. that makes the inventory of of 43 of available home giving the market just over 3 months of inventory and that is still considered a Seller Market technically. In reality you would like to see houses go in less than 77 days on average.
Single Family Temporarily Withdrawn Listings: 1 Median Liv. Area SqFt: 1,995 Median List $: $1,195,000 Median List $/SqFt: $599 Median DOM: 67
Single Family Expired Listings: 9 Median Liv. Area SqFt: 4,068 Median List $: $1,549,000 Median List $/SqFt: $491 Median DOM: 122
Single Family Canceled Listings: 2 Median Liv. Area SqFt: 3,623 Median List $: $1,677,450 Median List $/SqFt: $458 Median DOM: 150.5
These last three stats show houses who’s price was out of line, or poorly marketed, or the Seller had a change of heart about selling. This is the Wellesley Single Family Market Report Jan 2020