Wellesley, MA Annual Market Report 2012 includes all the activity throughout 2012. It was a year of some returns which is good for both buyers and sellers. The slow climb back from the drop off is welcome news for everyone. While Wellesley and some of the surrounding towns were not as devastated as others in the melt down of real estate beginning way back a the top of the market in 2007 and continuing the pendulum swing through 2009 and mid 2010 the swing is on the upwards trend again. We may not see the heights of 2007 for many years, but we are no longer swinging in the wrong direction.
There were 569 homes in Wellesley, MA that were in the Active, Under Agreement, Sold, Expired or Canceled realm in 2012. Some of them were in more than one area. There are currently 7267 Single Family homes registered in the Wellesley public records. This means a little less than 8% of the homes were on the market. Wellesley is a stable community with great schools and a wonderful community spirit.
Single Family Active Listings: 69 Avg. Liv.Area SqFt: 4,858.48 Avg. List$: $2,301,909 Avg. List$/SqFt: $442 Avg. DOM: 171.28
Single Family Under Agreement Listings: 32 Avg. Liv.Area SqFt: 3,427.16 Avg. List$: $1,327,578 Avg. List$/SqFt: $385 Avg. DOM: 139.72
Single Family Sold Listings: 351 Avg. Liv.Area SqFt: 3,105.98 Avg. List$: $1,250,544 Avg. List$/SqFt: $401 Avg. DOM: 118.58 Avg. Sale$: $1,188,094 Avg. Sale$/SqFt: $384
351 homes were sold in Wellesley up to today 12/23/12. There is no doubt there will be a few more closings before the year is over. The Days on Market fluctuated throughout the year but ends up a at 118.58 days which is almost 4 months. That is a long time to be on the market, to be keeping the house neat and ready for showings. A good and qualified Realtor® can shorten that time for you with the best practices of pricing, staging, marketing and showing your home.
Single Family Expired Listings: 69 Avg. Liv.Area SqFt: 4,206.99 Avg. List$: $1,667,720 Avg. List$/SqFt: $383 Avg. DOM: 238.20
Single Family Canceled Listings: 48 Avg. Liv.Area SqFt: 4,215.90 Avg. List$: $1,740,814 Avg. List$/SqFt: $405 Avg. DOM: 147.23
As you can see the homes that went Expired in 2012 had an average Days on Market of more than double the time of the Solds. 238 Days or almost 8 months is WAY TOO LONG. The longer your home is on the market, the more the Buyers think there is something wrong with it and they lower their price even further. A great Realtor® can help you understand the right price point for your home. So often agents will take any listing just to have a listing. They will take the owner’s idea of what the price should be without doing the work to let them know exactly what the market will be. The Canceled listings have a lower Days on Market number which shows that the bulb lit a bit sooner for the homeowner. The price a home will sell for is always determined by the Buyer and never by the Seller. A competent and qualified Realtor® will always be able to confirm with the homeowner or the Buyer what the price should be. This has been the Wellesley, MA Annual Market Report 2012
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