For those of you who love market stats, here’s the May 2019 Curlett Report for Weston MA Real Estate.
May 2019 began with 103 active* properties on the market. During the course of the next 31 days, 38 new** listings came on the market, and 21 properties went pending** (Contingent or Under Agreement). We ended the month with 120 listings, an average list price of $3,178,521, and an average days on market (DOM) of 122.
Looking back a year, May 2018 began with 69 active* properties on the market. During the course of the month, 37 new** listings came on the market, and 17 properties went pending**. We ended the month with 86 listings, an average list price of $3,778,856, and an average DOM of 142.
To summarize a few key points:
As has been the case since March, our inventory this May was up from last year’s at both the start and the end of the month. We started May 2019 with an inventory that was up 49% from May 2018 and finished the month up 40%.
In May 2019, we netted out the month with a 17% increase in inventory (103 to 120 properties), and in May 2018, there was a 25% increase in inventory (69 to 86 listings). These percentage increases are typical for May as the Spring market is in full swing.
Our average list price was down 16% at the end of this May vs. last ($3,178,521 vs. $3,778,856). The average DOM was also down 16% this May vs. last (122 vs. 142 days). This is a positive indicator as it means properties were on the market for fewer days.
This year we had more new and pending activity in May as compared to last year. In May 2019, there were 38 new and 21 pending properties, whereas in May 2018, there were 37 new and 17 pending properties. So the number of new listings was up just 3% and pendings were up 24% this year from last. In May 2019 and 2018, the majority of the new and pending properties were priced below $2M. And just 4 of the 38 new listings that came on in May 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. In May 2019, however, that figure was 38%, and last May, it was 41%.
Click here to see all of the details of the new, pending and remaining activity in May 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.