Westwood MA Housing Report Sept 2018. 77 single family homes show up in the MLS report for the month of September.
Single Family Active Listings: 50 Avg. Liv.Area SqFt: 3,556.40 Avg. List$: $1,167,622 Avg. List$/SqFt: $342 Avg. DOM: 92.40 Avg. DTO: 18.00
Of these 77 homes there are 50 Active homes. A lot of new homes came on the market in this last month with news of a softening market and the rise of interest rates with expectation of another hike in December of this year.
Single Family Under Agreement Listings: 15 Avg. Liv.Area SqFt: 2,702.40 Avg. List$: $1,028,340 Avg. List$/SqFt: $421 Avg. DOM: 109.33 Avg. DTO: 56.73
These 15 homes under agreement will be next months Solds which means there has been a very active sales month with the news of rates and softening prices.
Single Family Sold Listings: 10 Avg. Liv.Area SqFt: 2,596.20 Avg. List$: $922,340 Avg. List$/SqFt: $375 Avg. DOM: 84.60 Avg. DTO: 75.30 Avg. Sale$: $880,586 Avg. Sale$/SqFt: $367
With 10 Sold the market is inching back from a Seller's Market to a normal market. A normal market is defined as 6 months of inventory. With 55 Active and 10 Sold we have 5 months of inventory. We are getting close to normal for the first time in many, many quarters of housing activity.
Single Family Expired Listings: 1 Avg. Liv.Area SqFt: 2,675.00 Avg. List$: $995,000 Avg. List$/SqFt: $372 Avg. DOM: 98.00
Single Family Canceled Listings: 1 Avg. Liv.Area SqFt: 2,449.00 Avg. List$: $879,000 Avg. List$/SqFt: $359 Avg. DOM: 147.00
Expired and Canceled listing always have some story. They were overpriced, the agent did a poor job of marketing, the seller made it difficult to see the property, the agent misread the market and couldn't deliver what they promised, there is always a story. The real estate market is fluid, these reports are focused on the activity of one month while the market as a whole moves at different pace. Working with a professional that understand both short term and long term knowledge of the industry is better suited to assist you as a sale or a purchase. This is the Westwood MA Housing Report Sept 2018