The twist that July 2018 brought us has resurfaced once again this month. The number of sold properties was down noticeably in August 2018 as compared to past years. The average number of sold properties in August 2015, 2016 and 2017 was 21. This year we only had 15 properties sell, which had a negative effect on the numbers. All of the metrics – except median price – were down in August 2018 vs. August 2017. Here are the details:
Number of Sold Properties – 15 in August 2018 vs. 28 in August 2017
Total Market Volume – $25,414,900 in August 2018 vs. $48,379,6252 in August 2017
Median Price – $1,655,000 in August 2018 vs. $1,467,500 in August 2017
Average Sale Price – $1,694,327 in August 2018 vs. $1,727,8444 in August 2017
In terms of year-to-date sales (through August 31), despite the low number of properties sold in August 2018 and the effects therein, our 2018 numbers were still mostly up from 2017 – just number of properties sold was down. That being said, this is the first time this year that all of our market indicators weren’t up across the board. Hmmm…. And it’s not a surprise that the percentage differentials decreased from those in July; this downward trend in the percentage differentials has been happening for the last six months. Here are the specifics:
Number of Sold Properties – 119 in 2018 vs. 129 in 2017 – down 8% this year (it was up 3% in last month’s report)
Total Market Volume – $224,126,966 in 2018 vs. $207,044,742 in 2017 – up 8% this year (it was up 25% in last month’s report)
Median Price – $1,575,000 in 2018 vs. $1,395,000 in 2017 – up 13% this year (it was up 15% in last month’s report)
Average Sale Price – $1,883,420 in 2018 vs. $1,604,998 in 2017 – up 17% this year (it was up 22% in last month’s report)
There were two land sales in August 2018 – 10 Sudbury Road comprising 1.69 acres sold for $675,000 and 11 Briar Lane comprising 1.38 acres sold for $1,250,000.
For more information on this or about the real estate market in Weston, Wellesley, Wayland and the surrounding towns or if you are considering selling your home, please contact me, Lisa Curlett (www.lisacurlett.com, 781-267-2844 or firstname.lastname@example.org), to answer any questions or for a complimentary home appraisal.
* These market figures are based on information provided to and compiled by Pinergy/MLS Property Information Network, Inc., and do not include sales information on non-MLS transactions.