Wellesley, Needham, and Natick third quarter year to date results are in!

How do the  MLS single family numbers for the first 9 months of this year compare to the same period last year?

While WELLESLEY has made up some ground from dismal sales earlier this year, sales dollar volume through 9/30/2009 remains down by 32.5% and unit volume is down 20.6% as compared to last year. Inventory levels as of 10/7/2009 in Wellesley have increased a dramatic 48.9% as compared to the same date last year. Wellesley’s median price for this period has fallen 16.8%.

NEEDHAM continues to hold ground for this period with unit volume nearly flat and dollar volume off just 6.4%.  Needham’s median price has slipped a modest 4.4%.

NATICK picked up a little momentum for this period with a 6.95% increase in unit volume and a 7% increase in dollar volume. Natick’s median price has remained stable for this period. With the inventory of single family homes in Natick dropping by 22.4% on 10/7/2009 as compared to 10/7/2008 it appears the supply of homes for sale is not keeping up with demand.

Natick Sellers! This means now may be a good time to sell.  It is possible that a large inflow of inventory in the Spring could satisfy demand and soften prices?

Percentage change for the First nine months of 2009 vs. 2008

………………….WELLESLEY………..NATICK…………….NEEDHAM

SALES Units…………….- 20.6%…………………. + 6.95%………………….. - 1.4%

$ VOLUME……………….- 32.5%……………..…….+ 7.0%………….………….- 6.4%

Median Price…………….- 16.8%.……………..…… flat …………………………. -4.4%

Units in Inventory.. …. + 48.9% ………… -22.4%…...……………….. +8.9%

JOHN PRESCOTT, Vice President

Century 21 Commonwealth

508-523-9252


 
John Prescott, Vice President | Century 21 Commonwealth | 508-523-9252 64 Regent Circle, Brookline, MA **OH, SUN 8/30, 12:30-2** Washington Square area one block from Beacon Street and the "T". One car garage & 2nd space. 3BR/2.5BA Townhouse offered at $699,000 Year Built 1984 Sq Footage 1,909 Bedrooms 3 Bathrooms 2 full, 1 partial Floors 3 Parking 1 Car garage Lot Size Unspecified HOA/Maint $311 per month DESCRIPTION Prime location one block from Beacon Street, the "T", & Washington Square. Modern town home with flexible living space.First floor could be 3rd.BR/Den. New cherry/granite/stainless kitchen, master bath, lavatory, roof, & HVAC all in the past two years! PROPERTY FEATURES - Central A/C - Central heat - High/Vaulted ceiling - Walk-in closet - Hardwood floor - Tile floor - Family room - Living room - Dining room - Dishwasher - Refrigerator - Stove/Oven - Microwave - Granite countertop - Stainless steel appliances - Attic - Washer - Dryer - Laundry area - inside - Balcony, Deck, or Patio OTHER SPECIAL FEATURES - Direct entry garage. 2007 Updated: kitchen, baths, roof, heating, cooling Contact info: John Prescott, Vice President Century 21 Commonwealth 508-523-9252 For sale by agent/broker
 

Results Are In!..Local Real Estate Market… Wellesley, Needham, Natick


As I have reported earlier this year the market varies greatly by town.

Needham and Natick are demonstrating stability and equilibrium with sales and inventory in balance.

Wellesley on the other hand has seen both sales units and dollar volume plummet by 42.8%  and 51.3% respectively.


Combine drastically lower sales in Wellesley with inventory that has skyrocketed 74.8% and you get a market significantly out of  balance.

Perhaps sellers are trying to out wait cautious buyers?  More likely, by waiting to reduce their asking prices, sellers will ultimately have to sell at an even lower price. The alternative is to not move.

NEEDHAM and NATICK are stabilizing and WELLESLEY needs a dose of reality to regain equilibrium.

Percentage Change for the First Half of 2009 vs. 2008

………………………NEEDHAM……… WELLESLEY ………..NATICK

SALES Units.………….. flat…………………...…..- 42.8%…………………….. – 11.0%

$ VOLUME ……………- 2.6%……………………. – 51.3% ……………………..- 14.1%

Median price………….. flat ………………………..- 3.7% ………………………+ 4.9%

 

Units in Inventory….. + 2.6% ……..  ……………. + 74.8% …………………….- 12.5%


Two major factors are at play in the local real estate markets. The basic law of supply and demand, or in the case of Wellesley, oversupply, and the credit markets that remain heavily biased against jumbo loans needed to finance the vast majority of homes in Wellesley.

Despite some modest improvement from the first quarter, the numbers tell us that home prices in Wellesley still face downward pressure before the market will gain equilibrium.

Your thoughts?

John Prescott, Vice President

CENTURY 21 Commonwealth

508-523-9252


…JOHN gets results because he knows his business!

 

BROOKLINE, Washington Square Town Home, 

OPEN HOUSE: SUN 7/19,1:30-3 PM

64 Regent Circle, Brookline, $695,000

Prime location in Brookline one block form Beacon Street train, shopping, & restaurants!

Direct entry garage and additional parking space.  2007  Granite/Cherry/Stainless kitchen.  2007 Lavatory.  2009 Master Bath.  2007 new roof & heating cooling systems.  Oak, Brazilian Cherry, & tile  floors.

John Prescott, Vice President

CENTURY 21 Commonwealth

508-523-9252

 

64RegentKT2

 

RegentFrontRegentPatio2

 

Walter Cronkite…Remembered

Phoenix has become one of my favorite places over the past few years.

Despite its obvious lack of an ocean (It’s lake kayaking for me!) it has the weather and the lifestyle many Easterners crave.

You’re familiar with college towns; Wellesley itself is home to 3 colleges, but when you travel to Arizona you learn that it is a college STATE!

The University of Arizona in Tucson certainly has an impressive reputation, but it is Arizona State University, affectionately known as ASU that is woven into the very fabric of this southwestern state.

It seems that anything and everything has an ASU connection.

Walter Cronkite's Legacy

Walter Cronkite's Legacy

And ASU has a very special connection to ‘America’s Most Trusted Man in America,’ Walter Cronkite.

Part of Cronkite’s legacy is the ‘Walter Cronkite School of Journalism and Mass Communication‘ at ASU.

This was not an association in name only.  Over the past 25 years Cronkite helped shape the journalism program, mentored the school and its students, and was a great friend to all those associated with the School of Journalism.

The Valley has lost a member of the family, and as such the coverage of Cronkite’s death is very personal in Arizona, and as such I thought you might like to read some of the reporting of his passing on azcentral.com.

The Arizona Republic is sharing this amusing anecdote of a visit Walter Cronkite paid to the Biltmore Hotel


During a visit in 1984, Cronkite gave a few onlookers the slip.

"He was checking into the Arizona Biltmore Resort and Spa, and several women in their 70s or 80s were gathered, waiting for their cars.

“All of a sudden, he said, ‘Let’s go,’ ” Shover said. “And we started running to hide.

“I said, ‘What’s the matter?’ And he said, ‘Those are my groupies.’ “

- Arizona Republic

JOHN PRESCOTT

-BostonKayakGuy

 

 

Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

 

BostonKayakGuy…The MetWest Scene

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BROOKLINE, Washington Square Town Home, OH’s SAT 7/18, 10:30-12, SUN 7/19,1:30-3 PM

64 Regent Circle, Brookline, $695,000

Prime location in Brookline one block form Beacon Street train, shopping, & restaurants!

Direct entry garage and additional parking space.  2007  Granite/Cherry/Stainless kitchen.  2007 Lavatory.  2009 Master Bath.  2007 new roof & heating cooling systems.  Oak, Brazilian Cherry, & tile  floors.

John Prescott, Vice President

CENTURY 21 Commonwealth

508-523-9252

 

64RegentKT2

 

RegentFrontRegentPatio2

 

See the original image at bostonkayakguy.wordpress.com

BROOKLINE, Washington Square Town Home

FIRST OPEN HOUSE TODAY!

SUNDAY 7/12, 1-3 PM

bostonkayakguy.wordpress.com OPEN HOUSE SPECTACULAR! HIGHLY sought after Washington Square location convenient to T, cafes, shops. Parking, patio, super kitchen, light, bright and airy! AND SUPER PRICE! ...Call John Prescott 508-523-9252 www.johnprescottnet...See you at the OPEN HOUSE! ...64 REGENT CIRCLE, BROOKLINE

 

JOHN PRESCOTT

-BostonKayakGuy

 

 

Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

 

BostonKayakGuy…The MetWest Scene

 

BROOKLINE, Washington Square Town Home, 1st. OH 7/12, 1-3 PM

64 Regent Circle, Brookline, $695,000

Prime location in Brookline one block form Beacon Street train, shopping, & restaurants!

Direct entry garage and additional parking space.  2007  Granite/Cherry/Stainless kitchen.  2007 Lavatory.  2009 Master Bath.  2007 new roof & heating cooling systems.  Oak, Brazilian Cherry, & tile  floors.

John Prescott, Vice President

CENTURY 21 Commonwealth

508-523-9252

RegentKitchen2

RegentFrontRegentPatio264RegentFR2

 

A look at the courageous battle waged by Farrah Fawcett...

 

Farrah Fawcett Documentary…

Farrah Fawcett Poster (Charlie's Angels)
Image by Hobo! via Flickr

If you missed the Farrah Fawcett documentary, you can view her journey on Hulu.

http://bit.ly/13k24x

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~~

A Poker Group with Panache…

John Prescott's The MetWest Scene

bostonkayakguy.wordpress.com — When the poker buddies dine, they do it in style! No chips and dip for this group - how does authentic CANTONESE and SZECHUAN CUISINE with specially selected wine pairings sound? In South Natick it's called poker with panache...

(more) BostonKayakGuy...John Prescott's The MetWest Scene

 

 Full Story on bostonkayakguy.wordpress.com

 

Crab Wrangled
Image by cubemate via Flickr

With my wife out of town , it was serendipity for me to be one of the chosen few to recently be invited to a ten course gourmet meal, with specially selected  paired wine for each course.

Not long ago Ed , a friend, neighbor and our poker group’s resident wine steward, proved to be a consummate host and skilled sommelier for a Chinese Banquet that he hosted for his poker buddies and other assorted luminaries at The Royal East restaurant in Cambridge.

Salt & peppered LIVE shrimp flash fried to perfection, kicked off the culinary orgy.

Ed, taking the lead and making certain his guests felt comfortable, demonstrated the proper consumption technique of popping the entire shrimp complete with head and shell into...(continued on http://bostonkayakguy.wordpress.com)

 

 Full Story on bostonkayakguy.wordpress.com

 

JOHN PRESCOTT

-BostonKayakGuy

 

 

Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net

JOHN PRESCOTT

Vice President

Century 21 Commonwealth

508-523-9252

 

BostonKayakGuy…The MetWest Scene

 

 

 

 

 
 
Rainmaker_large

John Prescott Top Real Estate Agent: Wellesley,Needham,Natick,Metrowest

South Natick, MA

More about me…

Century 21 Commonwealth Wellesley

Office Phone: (508) 523-9252

Cell Phone: (508) 523-9252

Email Me



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