Concord MA Real Estate: Pending Homes Sales Through the Roof!

Pending home sales were up 142% in January 2015 over January 2014; Sudbury was up 100%...

Closed sales and median sale prices were also higher...

Meanwhile, the number of properties for sale remains low make this a good to sell a house and a challenging time to buy.

Check out the slideshow for market reports for single-family homes in Wayland, Sudbury, Concord, Maynard, and Stow and view the full reports at www.marilynmessenger.com.

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

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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...

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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Rent or Buy? Must Ask Questions

Whether you should buy or rent a home depends on your wants, needs, priorities, short and long term goals. Given the option, most people still prefer to own, especially these days when rents have gone up and mortgage rates have gone down. The decision is not only financial, but in fact, most people buy for quality of life reasons.

Here are some must ask questions to answer if you’re trying to decide:

1)      What are your short and long term plans?

2)      What type of house do you want?

3)      What community do you want to live in?

4)      What is the upfront cost?  Down payment that goes toward the purchase price vs. security deposit, first and last month rent, rental agent fee.

5)      What is the actual after tax cost?

6)      How often do you want to move? A landlord can decide to sell the property at the end of your lease term end do you want to move after a year? What if you have children in school and there aren’t any rentals in that school district?

7)      Do you have a pet(s)? Many landlords do not allow any pets.

8)      How important is control over your living space?

9)      Do you like to decorate? You can’t change a rental; and why would you want to spend money on someone else’ property?

10)   How do you feel about paying your landlord’s mortgage/expenses, building some else’ wealth?

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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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Wayland Real Estate Market - Good News for Buyers; Fewer Sales; Lower Prices

Custom Cape - List Price: $830,000

Single Family Homes: Current list prices for single family homes in Wayland range from $124,900 to $18,800,000. At $618,950 the median list price is lower than last year at this time when it was $629,450. The average is $1,077,036, higher than last year when it was $930,526.

The number of single family homes on the market is up slightly from last year; there are 98 compared with 94. The price range with the most homes available is $500,000 to $599,000; there are 18, so good choices for buyers. Inventory levels and time on the market are very similar to last year at this time however, both vary by price range. Of the 98 single family homes for sale, 11 already have accepted offers and are being shown until contingencies clear. The number of single family homes sold in July was down from July 2010 – 11 vs. 17. However, the median and average sale prices were higher. The median sale price in July 2011 was $615,000; the average was $636,545. Last July the median was $470,000; the average was $599,994. Currently there are 13 homes with sales pending.

Year-to-date through 7/31 there were 73 closed sales; last year there were 81. Along with fewer homes sold, both median and average prices were less. The 2011 median was $534,000; average was $600,785. The 2010 median was $567,105; the average was $624,027.Fewer sales and lower prices are good news for buyers; and sellers who are serious are adjusting their list prices according; there have been 41 price adjustments on 36 single family properties in Wayland since July 1. The average adjustment was -9.66%.

Condomiums/Townhouses: The condominium and townhouse market has improved over last year. Both the number of closed sales and the median sale price are up. Y-T-D through July 31, 2011 there were 21 condos/townhouses sold. The median sale price was $531,900; the average was $544,179. During the same period in 2010 there were 16 sold; the median price was $487,500; the average was higher at $663,525. The average in 2011 was $544,179. There are currently 26 for sale with prices ranging from $299,000 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 a year or longer; 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 MA. Facebook users, you can search without leaving FB at www.facebook.com/livingwestofboston and let us know what you think about Wayland.

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

Home Buyer Etiquette

Buying a home is an emotional experience that can bring out the best and the worst in people. Even people who are generally considerate sometimes forget how to behave when they are looking for a house. After-all it’s not something people do every day, it’s a big purchase and it’s at least a little scary for most people. Sometimes, when there’s more than one person involved they may not agree, the kids are cranky from driving around, and everyone is concerned about making the right decision. All of these stress factors can cause people to act in ways they never would otherwise.

Now that market is getting busy and everyone is running around looking at houses, here are a few things to keep in mind while you're out there...hope it's helpful.. let me know if you have something to add.

1. Always remember that houses belong to someone even when they are on the market. Owners have a right to know who is asking about their home – wouldn’t you want to know? When you contact a real estate agent or call an office be prepared to give some basic information – name, address, phone number, and whether or not you are pre-approved for a mortgage.

2. If you are not pre-approved for a mortgage, don’t be offended if an agent won’t show you a house. Instead, ask who you can contact to get pre-approved. It’s a waste of everyone’s time and agents have a responsibility to show homes only to qualified buyers. If you’re not ready to get pre-approved, then you’re not ready to look at houses!

3. If you go to an open house be prepared to sign-in and give correct information...more

Sudbury Real Estate Market Conditions 1/15/07

Welcome to the Sudbury Real Estate market conditions report:The Sudbury MA real estate market is still doing better than what most of the headlines are saying. The good news for homeowners/sellers is that the number of homes sold Sudbury during 2007 increased by 17.6%! The not so good news is that prices were down, but not substantially when compared with other investments during 2007. The median sale...more

Visit http://www.marilynmessenger.com/ for the latest real estate market conditions for Sudbury, Wayland, Weston, Maynard, and Hudson... complete MLS listings, real estate news and information.

Sudbury Real Estate Market Conditions 12/04/07

The Sudbury market is certainly better than the national headlines about real estate! The number of homes sold year-to-date through the end of November is up 14.5% from the same period in 2006 - 203 from 177. The median sale price was up slightly - $672,500 from $670,000 ... more...

Search MLS listings and always get the latest information about real estate in Sudbury MA at www.marilynmessenger.com.

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.