For those of you who love market stats, here’s the January 2019 Curlett Report for Weston MA Real Estate.
We began January 2019 with 40 active* properties on the market. During the course of the next 31 days, 12 new** listings came on the market, and 9 properties went pending** (Contingent or Under Agreement). We ended the month with 46 listings, an average list price of $3,284,539, and an average days on market (DOM) of 185.
Looking back a year, January 2018 began with 48 active* properties on the market. During the course of the month, 17 new** listings came on the market, and 16 properties went pending**. We ended the month with 52 listings, an average list price of $3,442,353, and an average DOM of 201.
To summarize a few key points:
Our inventory in January this year was less than what it was last year - both at the beginning and at the end of the month. We have been seeing this trend for the past several months. From last year, we were down 17% at the start of the month and down 12% at the end of the month.
In January 2019, we netted out the month with a 15% increase in inventory (40 to 46 properties), and in January 2018, there was a 8% rise in inventory (48 to 52 listings). These percentage increases are typical for the month of January as sellers begin to put their homes on the market as the Spring market starts to get into gear.
Our average list price was down 5% at the end of this January vs. last January ($3,284,539 vs. $3,442,353). The average DOM was down 8% this January vs. last (185 vs. 201 days).
This year we had less new and pending activity in January than we did last year. In January 2019, there were 12 new and 9 pending properties, whereas in January 2018, there were 17 new and 16 pending properties. So the number of new listings was down 29% and pendings were down 44% this year from last. This January, the new inventory was more skewed toward the higher end (above $2M) than it was last year. Specifically this year, 42% of the new listings were priced below and 58% were priced above $2M. Last year, those numbers were almost exactly flipped - 59% of the new listings were priced below and 41% were priced above $2M. In terms of the pending listings, the majority were priced below $2M this January and last, though much more strikingly this year (89% in 2019 vs. 69% in 2018).
Click here to see all of the details of the new, pending and remaining activity in January 2019 and 2018.
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.