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.
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
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About 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...
About 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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