Here's what's going on in the Wayland real estate market:
Single Family Homes: Current list prices for single family homes in Wayland range from $138,990 to $21,750,000. The median price is $762,450; the average is $1,125,077; both higher than last year at this time when the median list price was $647,000; and the average was $987,074. After a slow start, the number of single family homes for sale has increased to 114 up from 98 last month. The average time on the market for current listings is 158 days. Inventory levels and time on the market are very similar to last year at this time however, both vary by price range.
Of the 114 single family homes for sale, 14 already have accepted offers and are being shown until contingencies clear; and there are 22 homes with sales pending.The number of closed sales was up a bit from last year in May – there were 14 compared with 12. The median sale price in Wayland during May was $567,000; the average was $665,179, both higher than last year but not significantly.
Year-to-date through 6/15 there were 50 closed sales; last year there were 46. Sale prices were also similar. Overall the market in Wayland remains pretty flat and as a result many sellers are adjusting their list prices according; there have been 60 price adjustments on 51 single family properties in Wayland since May 1. The average adjustment was -7.91%.
Condomiums/Townhouses: The condominium and townhouse market in Wayland is more active than last year. There are 28 units for sale, only 2 less than last year; however, 5 of the 28 have accepted offers. There are 8 units with sales pending. The list average price per square foot for townhouses with sales pending is $250.
Luxury Market: As in most towns in the area, the luxury homes market in Wayland still has the best opportunities for buyers. There 33 luxury homes available, some have been on the market for a year or longer, so the choice is yours!
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