Friday, May 06, 2011

Spring Market in Wayland - More Sales; Lower Prices

Welcome to the Real Estate Market Conditions report for Wayland MA for May 2011.

List prices for single family homes in Wayland range from $219,000 to $24,500,000. The median price is $732,000; the average is $732,000 - both higher than last year at this time but lower than last month. Although the number of homes for sale has increased to 98 from 79 last month, there are still fewer single-family homes than last year at this time when there were 105. Lower inventory is generally good for sellers since there is less competition. However, proper pricing is still crucial since buyers are still looking for a good deal.

Of the 98 single family homes for sale, 18 already have accepted offers and are being shown until contingencies clear. The average time on the market is 139 days; last year the average was 175 days. Some of the recently accepted offers happened within a just a few days and properties that are perceived as good values have had multiple offers. The message to buyers is: be prepared if you are serious. Additionally, there are 16 properties with sales pending.

The number of closed sales was up in April – there were 11 compared to 6 in March and 8 during April 2011. However, the median sale price of $424,500 and average sale price of $504,545 was less than in March when the median was $482,000 and the average was $509,500; and substantially less than April 2010 when the median price was $625,000 and the average was $617,201. As a result many sellers are adjusting their list prices according and during the past month there have been prices adjustments in Wayland. The average adjustment was -3.76%.

As in most towns in the area, the luxury homes market still has the best opportunities for buyers. There 29 luxury homes available with only 2 offers accepted, so the choice is yours! Click here to check out the latest Luxury Housing report published by RE/MAX New England on May 3.

Visit to search complete MLS listings with addresses and maps; news and information and market reports for Sudbury, Stow, Maynard, and Weston MA. Facebook users, you can search without leaving FB at and let us know what you think about Wayland.

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

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