For those of you who love market stats, here’s the December 2018 Curlett Report for Weston MA Real Estate.
We began December 2018 with 56 active* properties on the market. During the course of the next 31 days, 2 new** listings came on the market, and 5 properties went pending** (Contingent or Under Agreement). We ended the month with 41 listings, an average list price of $3,220,632, and an average days on market (DOM) of 231.
Looking back a year, December 2017 began with 63 active* properties on the market. During the course of the month, 3 new** listings came on the market, and 12 properties went pending**. We ended the month with 48 listings, an average list price of $3,391,922 and an average DOM of 231.
To summarize a few key points:
As was the case in October and November, our inventory in December 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 11% at the start of the month and down 15% at the end of the month.
In December 2018, we netted out the month with a 27% decrease in inventory (56 to 41 properties), and similarly in December 2017, there was a 24% decline in inventory (63 to 48 listings). These percentage declines are typical for the month of December given that the holidays are in full swing and most people do not have buying (especially) and selling homes top of mind.
Our average list price was down 5% at the end of this December vs. last December ($3,220,632 vs. $3,391,922). Interestingly in November 2018, it was up 4% from November 2017. The average DOM was the same this December and last (231 days).
This year we had slightly less new and significantly less pending activity in December than we did last year. In December 2018, there were 2 new and 5 pending properties, whereas in December 2017, there were 3 new and 12 pending properties. So the number of new listings was down 33% and pendings were down 58% this year from last. This December, of the two new listings, one was priced in the mid $1Ms and the other was priced in the low $3Ms. Whereas last December, the new listings were skewed a bit more toward the high end as they were all priced at $2.5M or more. In terms of the pending listings. while this December 60% were priced at or above $2.5M, last December 50% were priced at or above $2.5M
Click here to see all of the details of the new, pending and remaining activity in December 2018 and 2017.
As we enter the new year, we watch with baited breath to see what and how the real estate activity of 2019 will be. Will it be a stronger or softer year than 2018? Will it be a buyer’s or seller’s market or a combination of the two? Will interest rates go up? I could go on and on with an endless list of questions and thoughts…. The bottom line is that I’m excited to see what the 2019 real estate market brings, AND I’m wishing you peace, health, love, prosperity, happy times and lots of fun in the New Year! Cheers!
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.