Monday, November 23, 2009

Wayland Real Estate Market - Inventory & Sale Prices Continue to Decline

Inventory continues to decline Wayland MA. Currently there are 73 single family homes for sale compared with 93 last month; and 104 last year at this time. Current prices in Wayland range from $159,000 to $5,795,000. The median list price is $649,000 down from $689,000 last year at this time; the average list price is $1,045,913 up from $957,938 last year. Average time on the market for current listings is 192 days; a year ago the average was 154 days.

Two bedroom homes (there are only 2 on the market) in Wayland start at $319,000; there are 16 three-bedroom homes starting at $329,000; there are 41 with four bedrooms starting at $369,900; and there are 16 five bedroom homes.

Recent activity includes 16 single family homes with sales pending and 9 have accepted offers with contingencies waiting to clear.

There were 10 sales during October; one less that in October 2008. Both median and average sale prices were lower: the median was $425,250; the average was $493,775 compared with the October 2008 median sale price of $451,000 the average of $525,364. On the plus side, it took less than half as long for homes to sell - the average time on the market for closed sales in October 2009 was 78 days compared 169 for the previous year.

For anyone looking for easy living in Wayland there are 24 condominiums on the market compared with only 16 last year at this time. Condominium prices range from $294,000 to $1,150,000 and average time on the market is 246 days. Year-to-date, there have been 21 closed sales. The median sale price was $435,000; the average sale price was $481,000 and it took an average of 197 days to sell. Condominium buyers certainly have some good opportunities Wayland - don't be afraid to make an offer - a good buyer agent will negotiate on your behalf.

To find out about opportunities in Wayland call 508-596-3501 or visit for complete MLS home searches, daily listing alerts, news and information to help plan your move.

Source: MLSPIN
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