WESTON, MA : MARKET DATA THROUGH APRIL

April Headlines

Weston
  • Median price is down by 28.5%.
  • 3-month days on market is up 86.7% to 168.
  • Unit sales in April were 4. This is down 60.0% from 10 in April of 2014.
Nearby Areas You May Be Interested In
  • Unit sales in Wellesley are down 40.9% to 13.
  • Median price in Wellesley in April was $1,189,000. This is down 22.7% from $1,538,800 in April of 2014.
  • Unit sales in Dover are down by 60.0%.
Changes Favoring Buyers
3 Months Ending April, 2015 % Chg From Apr, 2014
Median Sale Price $1,192,500 -18.0%
Market Time (Days) 168 86.7%
Sales to List Price Ratio 94.6% -1.8%
Listings Under Contract 29 -27.5%
Changes Favoring Sellers
3 Months Ending April, 2015 % Chg From Apr, 2014
Unit Sales 24 9.1%
Inventory 81 -9.0%
Months of Supply 6.2 -6.4%
Price per Sq Ft for Sold $378 1.4%
New Listings 88 -11.1%

Sales

There were 4 unit sales in April. This is down 60.0% from 10 in April of 2014. Sales/list price ratio in April moved down to 94.1% from 96.6% in March.

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Prices

Median price in April was $1,107,500. This is down 28.5% from $1,550,000 in April of 2014. This is the lowest median price has been since November, 2014. 3-month median price this month is $1,192,500, the same as last month. Price per square foot in April was $353. This is down from $372 in March and down from $414 in April of 2014.

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Inventory

Inventory of 104 in April was up 30.0% from 80 in March but down 1.9% from 106 in April of 2014. New listings in April were 42, unchanged from the same month last year. Months of supply of 8.2 in April was up considerably from 6.1 in March and up slightly from 7.8 in April of 2014. This is the highest months of supply has been since September, 2014.

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Market Time

Days on market of 210 in April was up substantially from 136 in March and up considerably from 66 in April of 2014. This is the highest days on market has been since November, 2012.

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Change in Median Sale Price for Single Family Properties YTD From 2014 To 2015 for Towns in Middlesex County Ranked by Best Performance
Town % Change
Cambridge 38.46%
Newton 24.92%
Stoneham 21.81%
Lowell 14.80%
Malden 14.72%
Hopkinton 13.40%
Wilmington 13.33%
Woburn 13.00%
Melrose 12.05%
Billerica 10.71%

 

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Selling Real Estate: How to Set a List Price for Your Home

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Setting the list price for your home involves evaluating various market conditions and financial factors. During this phase of the home selling process, your REALTOR® will help you set your list price based on:

  • pricing considerations
  • comparable sales
  • market conditions
  • offering incentives
  • estimated net proceeds

Pricing Considerations – Find a Balance Between Too High and Too Low

When setting a list price for your home, you should be aware of a buyer’s frame of mind. Consider the following pricing factors:

If you set the price too high, your house won’t be picked for viewing, even though it may be much nicer than other homes on the street. You may have told your REALTOR® to “Bring me any offer. Frankly, I’d take less.” But compared to other houses for sale, your home simply looks too expensive to be considered.

If you price too low, you’ll short-change yourself. Your house will sell promptly, yes, but you may make less on the sale than if you had set a higher price and waited for a buyer who was willing to pay it.

TIP: Never say “asking” price, which implies you don’t expect to get it. (read on)

Buyers: What a REALTOR® Can Do for You

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The REALTOR® you work with can be one of your most valuable resources in the home buying process. Unlike many real estate agents who are simply licensed by their state to do business, REALTORS® have taken additional steps to become members of the local board of REALTORS® and have agreed to act under and adhere to a strict Code of Ethics. Here is what a REALTOR® can do for you:

  • A REALTOR® can help you determine the price you can afford.
  • A REALTOR® can often suggest ways to accrue a down payment and explain alternative financing methods.
  • A REALTOR®, in addition to knowing the local money market, also can tell you what personal and financial data to bring when you apply for a loan.
  • A REALTOR® is already familiar with current real estate values, taxes, utility costs, municipal services and facilities, and may be aware of local zoning changes that could affect your decision to buy.
  • A REALTOR® can usually research your housing needs in advance through a Multiple Listing Service (MLS) – even if you are relocating from another city.
  • A REALTOR® can show you only those homes best suited to your needs: size, style, features, location, and accessibility to schools, transportation, shopping and other personal preferences.
  • A REALTOR® often can suggest simple, imaginative changes that make a home more suitable for you and that will improve its utility and value.
  • A REALTOR® is sensitive to the importance you place on this major purchase and commitment that you are about to make.
  • A REALTOR® can facilitate negotiation of a win-win agreement that will satisfy both you and the seller.

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