Thursday, February 17, 2011

Wayland Home Sales Update - Fewer Homes on Market

Welcome to the Real Estate Market Conditions report for Wayland Massachusetts for February 2011.


The number of single family homes on the market in Wayland remains low at just 57 for sale; last year at this time there were 61. Current activity shows that 4 of the properties already have accepted offers and are being shown until contingencies clear. Additionally, there are 11 single family properties with sales pending.

List prices in Wayland range from $179,000 to $4,795,000. The median list price is $769,000; last year at this time it was $660,000. The average list price is $1,068,291 compared with $1,079,514 last year. The average time on the market for current listings is 242 days; last year it was 262.

There were 2 single family closed sales in Wayland during January; one sold for $544,900 and one sold for $1,135,000. There were 12 closed sales during January 2010; the median sale price was $515,000; the average was $532,283.

While median and average prices are helpful information, the market value of any property depends on the supply and demand which can vary greatly for each price range. It is important to understand your specific market when determining the list price that will attract the highest number of buyers; or if you are a buyer trying to determine what you are willing to pay.

For anyone looking for easy living, there are still excellent opportunities in Wayland, however, fewer than last year at this time. There are 20 townhouse style condominiums with prices ranging from $399,000 to $985,000; last year there were 27 for sale. Of the 20 active listings there are 2 condominiums with offers accepted waiting for contingencies to clear. There are 7 townhouses with sales pending, up from 4 last month.

Visit http://www.marilynmessenger.com/ to search complete MLS listings with addresses and maps; news and information and market reports for Sudbury, Stow, Maynard, and Weston MA. Facebook users - "like" and search without leaving FB at www.facebook.com/livingwestofboston.

Data source: MLSPIN (Multiple Listing Service Property Information Network.
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