Here is what's going on in the housing market in Wayland MA. Currently there are 109 single family homes for sale in Wayland; just 2 less than last year at this time. 15 of the "active" listings have offers accepted and are being shown until contingencies have been met; list prices for 13 these properties range from $275,000 (short-sale waiting for lender approval) to $619,000; one is listed for $1,900,000 and one for $2,700,000.
Additionally, there are 30 single-family homes with sales pending; the average list price for sales pending is $709,363. Final sale prices will be available after closing.
List prices in Wayland range from $165,900 (for a foreclosure property) to $4,795,000. The median list price is $659,000 last year at this time it was $599,900. The average list price is $985,929 up from $907,903 last year. Average time on the market for current listings is 157 days; a year ago the average was 111 days. Higher list prices do not mean that the value of every house has gone up; only that sellers are asking more. Closed sales are a better indicator.
There were 11 closed sales during May 2010 compared with 6 during May 2009. Both the median and the average sales price was higher. The median sale price during May this year was $545,000; the average was $568,682. Last May the median was $423,000; the average was $424,150.
While median and average prices are helpful information, the market value of any property depends on supply and demand which can vary greatly for each price range. It is important to understand your specific market when determining the list price that will attract the highest number of buyers. For anyone looking for easy living, there are excellent opportunities in Wayland. There are 25 condominiums including duplex and townhouse styles in Wayland with prices ranging from $269,000 to $1,150,000. Last year at this time there were 31 for sale; the median and average prices for both years have not changed. However, this year there were 3 closed sales in May; last year there was one. So even the condo market has improved with less inventory; more sales, and higher sale prices.
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Data Source: MLSPIN
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