Monday, February 02, 2015

Wayland Real Estate - Pendings Sales Up in December

Here is an overview of the Wayland housing market including single-family homes and condominiums. The good news for buyers who would like to live in Wayland is that there are more houses for sale than there were last year at this time. More inventory combined with continued low mortgage interest rates make this a good time to be in the market.

Current 1/28/15): There are 30 single-family houses for sale in Wayland; last January there were 17. List prices range from $290,000 to $9,300,000. The median list price in Wayland is $1,309,000; last year on 1/28 it was $1,199,000. See homes for sale in Wayland.

December Pending Sales:  Good news for home sellers is that pending sales were up 100% from December 2013. 10 homes for sale went pending in Wayland during December 2014 compared with 5 during December 2013. Sale prices for these houses will be available in a month or two when they close.

December Closed Sales: Closed sales of single-family homes were down by 28.6% in Wayland over December 2013. There were 10 closed sales in Wayland during December 2014; and the median sale price of $564,000 was 10.3% less than the median sale price of $628,500 in December 2013.
2014 Closed Sales: There were 132 closed sales of single-family houses in Wayland during 2014; 26.7% less than in 2013. The median sale price for the year was $684,000; up 11.8% from the 2013 median sale price. 206 single-family houses were listed in 2014 compared with 236 in 2013.
Price Adjustments: In any market houses that are not priced correctly will not sell. There were 140 price changes/reductions on 80 single-family properties during 2014. Price is the most important part of marketing; it is how your house gets exposed to the right buyers.
Expired Listings: There were 35 single-family houses that did not sell during their listing contract period; these are called “expired listings.” Some of them were re-listed and sold, others were re-listed and still active, and others dropped out of the current market. There are various reasons that properties do not sell: incorrect pricing, inadequate or un-targeted marketing, mismanaged negotiations and communication. Bottom line is that these houses did not meet buyer expectations.

Condominiums/Townhouses: There are 15 condominium units for sale in Wayland; the same number as last year at this time. Prices range from $352,000 for a 2 bedroom, 2 bath, apartment-style in a mid-rise building to $1,225,000 for a 4,300 square foot luxury townhouse with 3 bedrooms and 4.5 baths on Hayfield Lane. The median list price for a townhouse in Wayland is $725,000. New construction townhouses at River Trail Place located at the Wayland Town Center start at $739,000. Click here for the full report for condominiums in Wayland.

New Construction: Buyers are entitled (and you deserve) to have your own buyer agent represent you when you purchase new construction. However, your agent/broker MUST accompany you to the sales office the first time you visit. As tempting as it is to just pop in and look around, if you do that, you will have to buy from the agent at the office and as nice as that agent may be, remember they work for the builder and not you! Having your own agent on your side will help you get the best deal
Marilyn Messenger CRS ABR GRI - Broker with Andrew Mitchell & CompanyAbout the author: Marilyn Messenger, a Certified Residential Specialist and Accredited Buyer Representative associated with Andrew Mitchell and Company, has been representing home buyers and sellers in Wayland and the towns west of Boston including Sudbury, Concord, Maynard, Stow MA since 1993. Her clients appreciate her area knowledge, attention to detail, negotiation and communication skills. MORE...

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