Wayland, MA 01778 Single Family Housing Report November 2011 had 101 listings in the Active, Under Agreement, Sold, Expired and Canceled categories. This is down from last month. The media is continuing to talk all over the map about the real estate industry. In some reports it is up and in others it is doom and gloom. The question is who are you to believe? I think you need to believe in your local numbers and so here they are.
Single Family Under Agreement Listings: 7 Avg. Liv.Area SqFt: 2,262.86 Avg. List$: $538,286 Avg. List$/SqFt: $236 Avg. DOM: 156.43
Single Family Sold Listings: 4 Avg. Liv.Area SqFt: 2,689.00 Avg. List$: $706,725 Avg. List$/SqFt: $260 Avg. DOM: 159.50 Avg. Sale$: $665,000 Avg. Sale$/SqFt: $246
In this Active, UAG and Sold category we see the trend continuing of more houses on the market than in any other category. The Days on Market is still going up. The average List Price to Sale Price is around 94% which is not so bad. The key to selling your home is being realistic to what the market pressures are right now. It is a buyers market. If you have your property on the market at too high a price you will not have anyone who will even look at the home. There are buyers out there as we can see from the statistics. Ask yourself the question if you are a seller, do you want to sell? If so have a discussion with your Realtor® on how to best accomplish this, or wait for the market to change. The media will be no help to you with all their misinformation.
Single Family Canceled Listings: 2 Avg. Liv.Area SqFt: 5,376.00 Avg. List$: $2,359,500 Avg. List$/SqFt: $355 Avg. DOM: 356.50
It appears as if the Sellers did not give their agent enough time to market their properties this past month. When the DOM for Sales is 159 and the Seller is expiring a contract at 128 DOM the math is simple, it can’t be done in that time, in this market. The canceled are another story and my thought here is overpriced and under-marketed couple with unrealistic sellers. The key to success in both buying and selling real estate is work with professionals who can guide you in the process. See you next month, enjoy your holidays and be safe.
Address: 14 Overlook Road
Square Feet: 7000
Bathrooms: 4 F, 2 H
Basement (full, 1/2, finished, unfinished): Full Finished with second kitchen