July 2018 brought us an interesting twist…. The number of sold properties was down significantly this year as compared to past years. The average number of sold properties in July 2015, 2016 and 2017 was 20. This year we only had 14 properties sell, and as you can imagine, this had a negative effect on the numbers. All of the metrics – except average sale price – were down in July 2018 vs. July 2017. Here are the details:
Number of Sold Properties – 14 in July 2018 vs. 20 in July 2017
Total Market Volume – $22,272,000 in July 2018 vs. $29,969,000 in July 2017
Median Price – $1,385,000 in July 2018 vs. $1,460,000 in July 2017
Average Sale Price – $1,590,857 in July 2018 vs. $1,498,450 in July 2017
In terms of year-to-date sales (through July 31), despite the low number of properties sold in July 2018 and the effects therein, our 2018 numbers continue to be up from 2017. But again – as has been the case since March – we’ve lost ground on the percentage differentials. And I’ll repeat myself by saying that 2018 is still up across the board from 2017 but the gaps are lessening, especially with the number of sold properties. Here are the specifics:
Number of Sold Properties – 104 in 2018 vs. 101 in 2017 – up 3% this year (it was up 11% in last month’s report)
Total Market Volume – $198,712,066 in 2018 vs. $158,665,117 in 2017 – up 25% this year (it was up 37% in last month’s report)
Median Price – $1,572,500 in 2018 vs. $1,372,000 in 2017 – up 15% this year (it was up 18% in last month’s report)
Average Sale Price – $1,910,693 in 2018 vs. $1,570,942 in 2017 – up 22% this year (it was up 23% in last month’s report)
There was one land sale in July 2018 – 20 Young Road comprising 1.89 acres sold for $1,725,000.
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.