For those of you who love market stats, here’s the November 2018 Curlett Report for Weston MA Real Estate.
We began November 2018 with 78 active* properties on the market. During the course of the next 30 days, 4 new** listings came on the market, and 10 properties went pending** (Contingent or Under Agreement). We ended the month with 58 listings, an average list price of $3,087,621, and an average days on market (DOM) of 200.
Looking back a year, November 2017 began with 82 active properties on the market. During the course of the month, 5 new listings came on the market, and 15 properties went pending. We ended the month with 63 listings, an average list price of $2,962,907 and an average DOM of 220.
To summarize a few key points:
Our inventory in November this year was less than what it was last year - both at the beginning and at the end of the month. From last year, we were down 5% at the start of the month and down 8% at the end of the month.
In November 2018, we netted out the month with a 26% decrease in inventory (78 to 58 properties), and similarly in November 2017, there was a 23% decline in inventory (82 to 63 listings). These percentage declines are typical for the month of November given that buyers and sellers are in prime holiday mode especially as the month ends.
Our average list price was up 4% this November vs. November 2017 ($3,087,621 vs. $2,962,907), and average DOM was down 9% (200 vs. 220).
This year we had less new and pending activity in November than we did last year. In November 2018, there were 4 new and 10 pending properties, whereas in November 2017, there were 5 new and 15 pending properties. So the number of new listings was down 20% and pendings were down 33% this year from last. In November 2018, our new listings were either below $1M (2) or above $3M (2), whereas last year, the majority of the new listings (3) were priced between $1M and $2M. And both this year and last, the majority of the pending listings were priced between $1M and $2M. There has been talk of a softening of the market, and these lower numbers this year from last may be an indication of that. However, the Fall market is always slower than the Spring, and so we’ll anxiously await the new year to see what kind of activity it brings.
In terms of the remaining properties, there were slightly more properties priced below $1M and above $3M this year from last and slightly less listings priced between $1M and $3M.
Click here to see all of the details of the new, pending and remaining activity in November 2018 and 2017.
For more information about the real estate market in Weston, Wellesley, Wayland and the surrounding towns or if you are considering buying or selling your home, please contact me, Lisa Curlett (lisacurlett.com, 781-267-2844 or firstname.lastname@example.org), to answer any questions or for a complimentary home appraisal.
* Active properties do not include condominiums, land listings or properties listed multiple ways on MLS.
** New listings do not include those re-listed within 60 days, and pending listings do not include those that were previously reported as pending in the last 60 days but came back on the market because the deal fell through.