Monday, January 20, 2014

Wayland Real Estate Report - Prices Up in 2013; Current Shortage of Houses for Sale!

2013 was a very positive year for home sellers in Wayland!

The median single-family house sale price was $612,000, approximately 13% higher than the 2012 median.

There were 80 closed sales; slighter fewer than in 2012. And it took less time sell a house.Click here for details.

Currently there are only 20 single-family houses for sale in Wayland. Last year there were 33. List prices range from $374,900 to $9,300,000. The median list price, $997,000 is higher than last year at this time when it was $939,000. The average list price is $1,668,845, also higher than last year.

"The early bird catches the worm"! If you want to sell your house, this is a great time to put it on the market. Buyers are waiting for listings so why wait for the competition?

Home-buyers, be prepared to move forward if you find a house that fits your needs. While can be difficult to make a decision if you have only seen one or two houses, if you wait you run the risk of not finding another house within your budget. As the spring market progresses, you will have more competition and limited supply will cause prices to go up. Additionally, there is a lot of discussion about mortgage interest rates going up too, further decreasing you purchasing power. Click here to contact an experience buyer agent/broker to help you set up a "game-plan" to put you in a winning position.

Sellers, it's easy to have unrealistic expectations in a "sellers' market". However, correct pricing is still the key to getting your property sold. As good a the market was in Wayland in 2013, there were 146 price changes on 89 single-family properties; the average price change was -7.51%. And, there were 40 "expired" listings; these are houses that did not sell during the listing contract period.
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