Happy First-time Homeowners in Wayland! |
Keep in mind that it takes approximately 30 to 60 days to close a sale. The buying decisions for properties that closed in June were made in April and May at the peak of the Spring market. Summer is a different market.
New listings in June: the number of single-family homes that came on the market in Wayland during June was almost the same as in June 2012 – 23; 22 in June 2012. Of the 23, there are only 9 that are fully active. 2 have accepted offers with contingencies waiting to clear, 10 are under agreement, 3 have already closed, and one of the listings has expired.
The current median list
price in Wayland is $822.000; last year on 8/1 the median list price in Wayland
was $735,500. As in Sudbury, the price range with the most choices is one
million to 1.499 million – there are 13 for sale. The average time on the market
for these properties is 140 days; some of these sellers may be ready to make a
deal and buyer, you have less competition - everything is on sale in August!
Condominiums (townhouses and garden-apartment style): There were 4 closed sales of condominiums in Wayland during June; there were 10 in June 2012. Sale prices were higher this year. The median sale price in June 2013 was $500,000 up from $456,250 in June 2012.Current: there are 16 units for sale in Wayland compared with 34 last year at this time. List prices range from $279,900 for 3 bedrooms, 1 bath half-duplex, to $1,199,000 for a 3 bedroom, 3.5 bath luxury townhome at The Field. The median price for a condominium in Wayland is $662,450 up from $665,000 on 8/1/2012.
What's it mean to you?Price is key even in a hot market. Homes sellers who price their houses correctly are getting offers, multiple offers in some cases, and are selling quickly, sometimes for over asking; while those who were overly optimistic and went on the market too high are taking longer and they are reducing their prices. There were 23 price changes on 21 properties in Wayland during June. The average change was -4.26%.
People who are serious about buying are prepared and acting
quickly, especially any who’ve already missed out on a house they wanted. Being
prepared is more important than ever, however, it is still important to think
things through and not to make costly mistakes like waiving the home inspection
or offering more than you can comfortably afford. Contact me if you want an
experienced buyer agent/broker to navigate you through the process. My
clients have been able to get the house they want without over-paying.
For people who own a home and are not planning to move anytime soon, higher sale prices mean more equity in your property. Maybe you've been trying to refinance or take out an equity line to do some updates but your house wouldn't appraise. Mortgage interest rates are still historically low and this may be your window of opportunity. This is also a good time to consider a vacation home or income property. Prices are going up everywhere so why wait?
For people who own a home and are not planning to move anytime soon, higher sale prices mean more equity in your property. Maybe you've been trying to refinance or take out an equity line to do some updates but your house wouldn't appraise. Mortgage interest rates are still historically low and this may be your window of opportunity. This is also a good time to consider a vacation home or income property. Prices are going up everywhere so why wait?
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Want to know more, call Marilyn at 508-596-3501.
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Want to know more, call Marilyn at 508-596-3501.
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