How's the Market Doing in Wayland, MA? Get the Latest Market Update - 10/31/2008

As of October 31, 2008, there were 101 single family listings in Wayland on the Multiple Listing Service (MLSPin).  Sales of single family homes are down approximately 24% for the year, with on-going price pressure on list prices by buyers.  During October, 17 additional single family listings were added to our MLSPin, (2 of which were back on market) with an average list price of $573,412. 

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of a staggering 9.18 months.   That is to say, based on the volume of sales during the past month, it will take 275 days to sell all the single family homes currently sitting on the Wayland market.

The average list price is $906,515.  The lowest price is $225,000 and the highest price is $6,500,000, with the largest concentration of homes (39%) priced in the $500,000 to $799,999 price range.  Of note, the average list price for a single family home in October 2007 was $993,549.

The median price is $649,900 and the average days on market are 173 days.  This compares to a median sales price of $699,450 and average days on market of 173 days as of October 31, 2007.

There were 6 properties that went under agreement during the month of October (October 2007- 3 properties).  11 single family homes sold during October, with the average sales price being $525,364 and the median was $451,000, with the average days on market being 169 days. Compare this to 10 properties sold during October 2007, with an average and median sales price of $692,740 and $568,950, respectively, and the average number of days on market being 190 days.

In October 2008:

25 properties had price changes averaging -3.74%

Sales price to original price was 88%

Sales price to (last) adjusted price was 95%