How’s the Market Doing in Wellesley? Read the Latest Market Update - 9/30/2008
Monthly market performance:
As of September 30, 2008, there were 133 single family listings in Wellesley (including Wellesley Hills and Wellesley Farms) on the Multiple Listing Service (MLSPin). We continue to see a strong upward growth of new listings coming on the market, with a few new luxury home listings being added in the $2.5 million plus range. During September, 43 new single family listings were added to our MLSPin, with an average list price of $1,677,856.
The average list price is $1,803,219. The lowest price is $330,000 and the highest price is $6,495,000, with the largest concentration of homes (41.4%%) priced in the $1,000,000 to $1,999,999 price range. Of note, the average list price for a single family home in September 2007 was $1,504,634.
The median price is $1,495,000 and the average days on market are 134 days. This compares to a median sales price of $1,195,000 and average days on market of 129 days as of September 30, 2007.
There were 15 properties that went under agreement during the month of September (September 2007- 22 properties). 19 single family homes sold during September, with the average sales price being $1,302,549 and the median was $1,305,000, with the average days on market being 87 days. Compare this to 28 properties sold during September 2007, with an average and median sales price of $1,376,832 and $1,180,000, respectively, and the average number of days on market being 89 days.
In September 2008:
36 properties had price changes averaging -6.68%
Sales price to original price was 95%
Sales price to (last) adjusted price was 97%
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Year to date market performance: |
|
2008 |
|
2007 |
|
Average list price |
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$1,467,359 |
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$1,433,596 |
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Average sales price |
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$1,362,073 |
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$1,279,385 |
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Median sales price |
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$1,135,500 |
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$994,500 |
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Average days on market |
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111 |
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109 |
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Total number of single family homes sold |
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233 |
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285 |
(1 votes, average: 5 out of 5)
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