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Needham, Wellesley, Dover Market Report

By
Real Estate Agent with Realty Executives Boston West 113011

Although the year has not officially ended I believe that we can get a real picture of the single family home sales for these communities in the infamous year of 2007.  Comparison follows the report for each town from the previous year and same time period.  The figures are taken from Multiple Listing Service for this area which is H3MLS.

All of these communities are in Norfolk County.  All are a generally strong luxury market.  All have terrific amenities in what are offered for town services and near to the city of Boston, MA. 

Explanation of the these headings: SP:LP ratio = Sales Price to List Price

                                                  SP:OP ratio = Sales Price to Original Price

By comparison; For all three communities there more sales, the median price went down some , the average price went up by $33,000.  Sales price to Original price average only reflected a -1%.

                                          

Report Run: 12/29/2007 6:27:09 PM
Property Type(s): SF
Status: SLD
Start Date: 01/01/2007
End Date: 12/29/2007
Towns: Dover, MA; Needham, MA; Wellesley, MA
Price Range# of
Listings
Avg. Days
on Market
Average
Sale Price
 Average
List Price
SP:LP
Ratio
Average
Orig Price
SP:OP
Ratio
Under $50,000--- ----
$50,000 - $99,999--- ----
$100,000 - $149,999--- ----
$150,000 - $199,999--- ----
$200,000 - $249,999--- ----
$250,000 - $299,999 4 229 $262,225   $280,20094$302,80087
$300,000 - $349,999 4 162 $334,525   $368,45091$395,95084
$350,000 - $399,999 17 110 $374,915   $395,37695$423,62889
$400,000 - $449,999 28 137 $421,348   $444,65795$480,01888
$450,000 - $499,999 47 89 $473,465   $495,74596$517,98191
$500,000 - $599,999 116 82 $550,729   $569,49997$586,65394
$600,000 - $699,999 98 91 $647,431   $669,94197$691,27194
$700,000 - $799,999 94 101 $751,516   $774,49997$802,92494
$800,000 - $899,999 78 97 $847,348   $879,31996$916,86792
$900,000 - $999,999 28 80 $953,037   $987,51897$1,020,89393
$1,000,000 - $1,499,999 140 108 $1,236,684   $1,300,00495$1,455,49085
$1,500,000 - $1,999,999 65 115 $1,721,392   $1,785,20096$1,853,76993
$2,000,000 - $2,499,999 33 184 $2,224,288   $2,347,24295$2,409,54592
$2,500,000 - $2,999,999 9 141 $2,707,222   $2,931,66792$3,052,22289
$3,000,000 - $3,999,999 9 261 $3,449,889   $3,814,33390$3,980,55687
$4,000,000 - $4,999,999 6 342 $4,616,500   $4,972,33393$5,064,16791
$5,000,000 - $9,999,999 3 232 $5,683,333   $6,265,00091$6,646,33386
Over $10,000,000--- ----
Total Properties779Avg. 108$1,016,888 $1,066,32095$1,125,22790
Lowest Price: $250,000Median Price: $776,000
Highest Price: $6,500,000 Average Price: $1,016,887
Total Market Volume: $792,155,475

 

 Property Type(s): SF
Status: SLD
Start Date: 01/01/2006
End Date: 12/29/2006
Towns: Dover, MA; Needham, MA; Wellesley, MA
Price Range# of
Listings
Avg. Days
on Market
Average
Sale Price
 Average
List Price
SP:LP
Ratio
Average
Orig Price
SP:OP
Ratio
Under $50,000--- ----
$50,000 - $99,999--- ----
$100,000 - $149,999--- ----
$150,000 - $199,999--- ----
$200,000 - $249,999--- ----
$250,000 - $299,999 1 7 $275,000   $299,00092$299,00092
$300,000 - $349,999 1 263 $325,000   $335,00097$439,00074
$350,000 - $399,999 12 94 $374,583   $401,82593$430,57587
$400,000 - $449,999 17 109 $424,206   $456,15293$480,95288
$450,000 - $499,999 35 108 $472,904   $500,48094$518,27191
$500,000 - $599,999 103 100 $555,724   $580,88696$602,77992
$600,000 - $699,999 109 88 $649,228   $674,83596$697,69293
$700,000 - $799,999 75 105 $743,566   $774,59196$810,69192
$800,000 - $899,999 57 105 $850,081   $887,10496$928,69392
$900,000 - $999,999 48 124 $945,868   $995,55295$1,079,33188
$1,000,000 - $1,499,999 149 155 $1,207,545   $1,277,59495$1,326,76391
$1,500,000 - $1,999,999 65 183 $1,697,277   $1,778,23795$1,854,41492
$2,000,000 - $2,499,999 24 148 $2,221,875   $2,361,45894$2,469,16790
$2,500,000 - $2,999,999 10 247 $2,625,625   $2,834,40093$3,014,80087
$3,000,000 - $3,999,999 5 156 $3,213,772   $3,432,80094$3,496,80092
$4,000,000 - $4,999,999 1 136 $4,175,000   $4,150,000101$4,150,000101
$5,000,000 - $9,999,999 1 4 $7,200,000   $7,495,00096$7,495,00096
Over $10,000,000--- ----
Total Properties713Avg. 124$987,040 $1,038,34095$1,083,67791
Lowest Price: $275,000Median Price: $805,000
Highest Price: $7,200,000 Average Price: $987,040
Total Market Volume: $703,759,698

Home Sales  by Town.

Dover 2006:         60 Single Family Homes - Median Price $   940,000   Average Price $1,096,533

Dover 2007:         69 Single Family Homes - Median Price $1,040,000   Average Price $1,310,719 

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

Needham 2006:  296 Single Family Hoimes - Median Price $662,000   Average Price $768,864

Needham 2007:  372 Single Family Homes - Median Price $628,550    Average Price $749,151

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ 

Wellesley 2006:  357 Single Family Homes - Median Price $971,000    Average Price $1,149,534

Wellesley 2007:  338 Single Family Homes - Median Price $960,000    Average Price $1,251,572


 There are certainly more market reports to be done but it hasn't been the market of 2004 but not too  shabby at all.

Pat Baker, Realtor Associate with Coldwell Banker Residential Brokerage of Needham, MA - serving Needham, Wellesley, Newton, Weston, Westwood, Dedham, Holliston, Sherborn, Dover, Natick, South Natick visit my website: www.patannbaker.com For school information and other important search tools. 

 

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