Wayland - Home Sales Double in July!

Current (8/29): There are 75 family homes for sale in Wayland last year at this time, there were 98. List prices range from $199,900 to $14,900,000. The median list price is $899,000. Last year at this time the median list price was $618,950. Click to see all of the homes for sale in Wayland.

This is good news for people who are ready to sell; less competition generally leads to quicker sales and potentially higher prices. Buyers are ready for new listings to come on the market in Wayland.

Closed Sales July 2012: there were 22 closed sales of single family homes in Wayland during July 2012, double the number of sales in July 2011. The median sale price was $584,175, 5% less than the July 2011 median of $610,000.

Pending Sales:  Pending sales for single family homes in Wayland were also higher than in July 2011. 28 compared with 10. Only 19 new listings came on the market in July 2012 compared with 29 in July 2011.

Y-T-D through July 31, 2012: Closed sales were up by 50% in Wayland for the first seven months of 2012; there were 110 up from 73 for the same period in 2011. The 2012 median sale price was $552,500 was 3.5% higher than last year for the same period.

Condominiums: Sales of condominiums, including garden style and townhouses, also doubled in July; there were 4 closed sales. Sales for the first seven months were up by 71.4% - 36 sold compared with 21 the previous year. However, median sale prices were lower both for the month of July and for the first 7 months of 2012 compared with the same period in 2011.

Click here for the latest report from the Greater Boston Real Estate Board.

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Is There a Permit on File?

During the housing boom, buyers would often forego home inspections and not take time to do their due diligence for fear of missing out on a property; while they were taking the time to be smart and careful someone else was getting their dream home (or so they thought)! These days, it’s just the opposite; buyers are taking their time and scrutinizing every detail; home inspectors are suggesting that buyers ask about permits; and in Massachusetts many attorneys are asking to see the permits for work done in addition to sellers’ disclosures, etc., and buyer agents have to be more careful too.

If you are a homeowner and you plan to have any work done, make sure the contractor pulls a permit and that the inspector from the town signs off after the work is done. It’s very easy to find out if one is needed; towns have the information about permits on their web sites or you can call the building inspector. Most people don’t think about it. They assume that their contractor will take care of everything and especially because most contractors include the cost of a permit in their quote, so of course everyone assumes contractors do their job.

Unfortunately, contractors often do not follow through with applying for the permit(s) and scheduling the inspection after. Whether it’s laziness or lack of time or they’re keeping the money you’re paying for the permit (hope that’s not it!) but the bottom line is that you are paying for the permit(s) and they are required for your protection, protection of the town, and the protection of future owners. When you sell your house, if a home inspector sees a problem and there is no permit on file, even though it’s not your fault, it raises suspicion that will ultimately cost you; buyers will question what else is wrong or missing and start looking for reasons to reduce the price! This has happened to many of my clients in the Wayland/Sudbury area who paid top dollar to reputable contractors who never followed through on the permit.

Advice to homeowners and sellers: ask the contractor when the inspector from the town will be coming by to sign off on the work done. If they can’t answer, make sure you follow up with the contractor. Or, you can call the inspector yourself then you know it will be done.

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Wayland Real Estate Report - Third Quarter Home Sales Up!

Sold in 6 Days!
Average time on market 126 Days!

Single Family Homes: Current list prices for single family homes in Wayland range from $94,900 to $18,800,000. At $629,000 the median list price is lower than last year at this time when it was $719,000. The average is $1,068,555, higher than last year when it was $946,248. The number of single family homes on the market is up approximately 11% from last year; there are 101 compared with 91. $500,000 to $599,000 is still the price range with the most homes; there are 15 homes for sale, so good opportunities for buyers.
Of the 101 single family homes for sale, 13 already have accepted offers and are being shown until contingencies clear. There are 8 properties with sales pending.

Closed Sales: There were 14 closed sales of single family homes in Wayland during September 2011; up from 10 during September 2011. Median and average sale prices were also up; the median sale price was $699,500, the average was $665,643. The median and average during September 2010 was $568,250; the average was $609,350. 

Third quarter sales were also up in Wayland; there were 44 closed sales; last year there were 40. The median sale price was $633,740, the average was $662,052. The median sale price for third quarter 2010 was $502,113 and the average was $612,657. 

Condominiums/Townhouses: Sales of condominiums and townhouses during September and the third quarter improved substantially over 2010. There were 7 sales in September 2011, up from 2 the previous year although prices were about the same – the median sale price was $449,800; the average was $549,757. There were 12 units sold during third quarter 2011, up from only 8 for the same period in 2010.

There are currently 40 condo/townhouses for sale in Wayland; 15 are new construction at DeColores Drive near Commonwealth Road, Wayland Commons off Route 27, and The Field at Mainstone. Prices including resale and new units range from $289,900 to $1,100,000.

Luxury Market: As in most towns in the area, the luxury homes market in Wayland still has the best opportunities for buyers. There 26 luxury homes available, some have been on the market for several months. Fall is a great time to get a deal!


Click here to search complete MLS listings with addresses and maps; news and information and market reports for Sudbury, Stow, Maynard, and Weston.  Or search on Facebook - "like" www.facebook.com/livingwestofboston for the latest real estate news and community information.

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

How's the Sudbury Real Estate Market?

As in most places, the number of homes sold and median and average sale prices for single family homes in Sudbury during the first quarter of 2011 were down from the same period in 2010. There were 18 single family homes sold between 1/1 and 3/31/2011 compared with 22 in 2010. The 2011 first quarter median price was $556,000 and the average was $584,889. During Q1 2010 the median price was $646,250 and the average $710,000.

While that may sound discouraging for sellers and give buyers the idea that they can take their time and then make low offers, March and April have been substantially more active and there are 26 single family homes with offers accepted and 17 with sales pending. Sellers who priced their properties to position themselves in the marketplace as "good deals" or as Jordan's Furniture calls it "under-pricing", are getting offers pretty quickly. Others who want to use the price to show that their house is "better" are staying on longer.

Current list prices for single family homes range from $174,000 to $2,795,000; the median price is $849,900; last year at this time it was $876,750. The average list price is $965,531 compared with $1,020,914. The average time on the market is 168 days, last year at this time it was 176 days.

After this past winter, it's no wonder that a lot of people are thinking about owning a condominium. There are currently 25 luxury townhouses for sale in Sudbury with prices ranging from $459,900 to $699,000. Recent activity shows there are 5 with accepted offers and 4 with sales pending. First quarter sales for townhouses in Sudbury up slightly from first quarter last year; median and average prices were also higher.

If you are thinking about renting a property in Sudbury, there are only 5 available. Rents in Sudbury range from $1400 per month for a 2 bedroom, 1 bath unit, to $7,000 per month for an 18 room luxury home. When adding up the cost of a first, last, and one month security deposit plus the rental agent's fee, buying may be a better option.

Interest rates are still the lowest in decades, so it's a great time for buyers and sellers to make a move. Visit http://www.marilynmessenger.com/  for the latest local market condition reports for Sudbury, Wayland, Weston, Maynard and Stow MA, complete MLS home search, news and information to help you plan your next move.

Is This a Good Time to Sell Your House?

Recently I was chatting with a woman who was complaining about the cold saying that her friends and relatives in Florida keep telling her she should move there. Sounds like a good idea to a lot of us in Massachusetts as we look at the endless piles of snow… So I mentioned I’m a real estate broker and that my Realtor friends in Florida send me information about some fabulous opportunities especially in Naples and Fort Myers where she would be going. We talked about what a great house she could buy for so much less money than here :) and then she said: “but it’s such a bad time to sell, nothing is selling!”

Really? While hardly a day goes by without a headline about “the housing market”, as if there is one big market when really there no such thing; all real estate is local and whether houses are selling or not depends on supply and demand which varies greatly around the country. In New England it varies from town to town and within the town it can vary by price point. While the supply in places like Florida and Nevada is still high, right now the supply of homes for sale in the towns west of Boston is really low. Compared with last year at this time the number of single family homes for sale in Sudbury has dropped by 18%; 21% in Maynard; and 30% Wayland! Of course, no one can tell you exactly what the demand is, however, based on 2010 absorption rates and the increased number of calls from buyers since Thanksgiving, I would say buyers are hungry for new listings to come on the market.

Everyone wants to sell high and buy low! Well, if you’re selling in Massachusetts and moving to a state like Florida that still has a large supply of homes for sale you can actually to do that! When I explained that to her and told her about some recent single family home sales in town, she kind of got it but was still focused on selling for less than she could have a few years ago. I suggested that she think about where she wants to be rather than what could have been; and, more importantly that she could be with her family and not have to go through another winter like this.

Bottom line: whether it’s a good time to sell depends on you and where you want to go. Since most home sellers become buyers, selling is just a means to an end; one more step (albeit a big one!) in the buying process. If you are moving to a less expensive town or state, down-sizing within the same market, or even if you are looking to move up within the same town then it’s a good time to sell. Today’s low interest rates are another factor on your side. If you really are ready to make a move because that is what makes sense for your life, don’t let the naysayers deter you and don’t wait for everyone else to go on the market. Get the facts from a real estate professional and then you decide if it’s a good time to sell based on your market, not headlines!

For Sale - Wayland MA - 2 beds, 2 baths $275,000

 

$275,000 Excellent opportunity in Wayland for contractor or handy end-user. Cape on pretty corner lot. 2 full baths, hardwood floors, fireplace. Updated furnace, hot water heater, and electric. Appliances included. Fenced yard with in-ground pool and cabana. Short sale needs lender approval. Cesspool - buyer responsible for Title V (passed in 2002, pumped annually). "As is" condition. Non-conforming lot.  

Open House Sunday, 5/16, 1 - 2:30

Listing Broker: Marilyn Messenger, RE/MAX Landmark Wayland MA
Call 508-596-3501 for additional information.
Search for homes at http://www.marilynmessenger.com/.

Wayland Real Estate Market - Inventory & Sale Prices Continue to Decline

Inventory continues to decline Wayland MA. Currently there are 73 single family homes for sale compared with 93 last month; and 104 last year at this time. Current prices in Wayland range from $159,000 to $5,795,000. The median list price is $649,000 down from $689,000 last year at this time; the average list price is $1,045,913 up from $957,938 last year. Average time on the market for current listings is 192 days; a year ago the average was 154 days.


Two bedroom homes (there are only 2 on the market) in Wayland start at $319,000; there are 16 three-bedroom homes starting at $329,000; there are 41 with four bedrooms starting at $369,900; and there are 16 five bedroom homes.

Recent activity includes 16 single family homes with sales pending and 9 have accepted offers with contingencies waiting to clear.

There were 10 sales during October; one less that in October 2008. Both median and average sale prices were lower: the median was $425,250; the average was $493,775 compared with the October 2008 median sale price of $451,000 the average of $525,364. On the plus side, it took less than half as long for homes to sell - the average time on the market for closed sales in October 2009 was 78 days compared 169 for the previous year.

For anyone looking for easy living in Wayland there are 24 condominiums on the market compared with only 16 last year at this time. Condominium prices range from $294,000 to $1,150,000 and average time on the market is 246 days. Year-to-date, there have been 21 closed sales. The median sale price was $435,000; the average sale price was $481,000 and it took an average of 197 days to sell. Condominium buyers certainly have some good opportunities Wayland - don't be afraid to make an offer - a good buyer agent will negotiate on your behalf.

To find out about opportunities in Wayland call 508-596-3501 or visit www.marilynmessenger.com for complete MLS home searches, daily listing alerts, news and information to help plan your move.

Source: MLSPIN

Wayland Real Estate: April and May Sale Prices Down; List Prices Up

Welcome to the market conditions report for Wayland MA. The number of single family homes for sale in Wayland is up slightly from last year at this time - 103 compared to 99. The price range with the greatest increase is the $300,000 to $349,900 - 9 available compared to only 3 last year so there are some good opportunities for first time buyers who may not think they can afford Wayland. The price range with the largest decrease is $500,000 to $599,999 - 16 down from 25 last year.

Current prices in Wayland range from $199,000 to $6,500,000. The median list price is $649,000 up from $599,000; the average list price is $897,792 up... MORE


Visit MarilynMessenger.com for the most up to date market condition reports for Wayland, Sudbury, Weston, Maynard, and Stow MA. Complete MLS listings with addresses, maps, solds; news and information to help plan your next move.

Home for the Holidays – Smart, Serious Buyers Buy Now!

Contrary to popular belief, holiday time can be a great time to be in the market for real estate. I’ve always said that smart buyers come out at Thanksgiving! In any market, there are many good reasons for this. Here are just a few:

1. Time to look. Companies give shopping days at this time of year – why not shop for a new home? Even if your ... More...

Find your next home at http://www.marilynmessenger.com or drop a note to marilynmessenger@realtor.com for advice from your local area expert in Sudbury, Maynard, Wayland, Weston, Hudson and west of Boston MA.

Real Estate - Wayland (MA) Market Looking Up!

Here are the current market conditions for Wayland Massachusetts: Good news for home-owners in Wayland -- the number of homes sold for the 3-months ending 11/05 is up from the same period last year – 45 sold up from 38. Both the median and average sale price was up ... more...

Get the latest market reports for Wayland, Sudbury, Maynard, Weston, and Hudson MA at http://www.marilynmessenger.com/. Get everything you need from a local area expert to start planning you next move.