For those of you who love market stats, here’s the April 2019 Curlett Report for Weston MA Real Estate.
April 2019 began with 85 active* properties on the market. During the course of the next 30 days, 36 new** listings came on the market, and 20 properties went pending** (Contingent or Under Agreement). We ended the month with 102 listings, an average list price of $3,196,924, and an average days on market (DOM) of 123.
Looking back a year, April 2018 began with 60 active* properties on the market. During the course of the month, 24 new** listings came on the market, and 19 properties went pending**. We ended the month with 70 listings, an average list price of $4,052,737, and an average DOM of 153.
To summarize a few key points:
Our inventory this April was significantly more than last year’s at both the start and the end of the month. We started April 2019 with an inventory that was up 42% from April 2018 and finished the month up 46%.
In April 2019, we netted out the month with a 20% increase in inventory (85 to 102 properties), and in April 2018, there was a 17% increase in inventory (60 to 70 listings). These percentage increases are typical during the month of April as the Spring market continues to be in high gear.
Our average list price was down 21% at the end of this April vs. last April ($3,196,924 vs. $4,052,737). The average DOM was down 20% this April vs. last (123 vs. 153 days).
This year we had more new and pending activity in April as compared to last year. In April 2019, there were 36 new and 20 pending properties, whereas in April 2018, there were 24 new and 19 pending properties. So the number of new listings was up significantly (50%) and pendings were up slightly (5%) this year from last. In April 2019 and 2018, the majority of the new and pending properties were priced below $2M. And 10 of the 36 new listings that came on in April 2019 also went pending.
The Weston market has always had a high percentage of its inventory priced above $3M. In fact, historically these high-end listings (above $3M) account for 40% or more of the inventory. So it was interesting to see that at the end of this April, only 36% of the remaining properties were priced above $3M. Last April, that number was 44%.
Click here to see all of the details of the new, pending and remaining activity in April 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.