For those of you who love market stats, here’s the July 2019 Curlett Report for Weston MA Real Estate.
July 2019 began with 112 active* properties on the market. During the course of the next 31 days, 15 new** listings came on the market, and 19 properties went pending** (Contingent or Under Agreement). We ended the month with 100 listings, an average list price of $3,090,282, and an average days on market (DOM) of 137.
Looking back a year, July 2018 began with 83 active* properties on the market. During the course of the month, 6 new** listings came on the market, and 7 properties went pending**. We ended the month with 83 listings, an average list price of $3,719,465, and an average DOM of 150.
To summarize a few key points:
As has been the case since March, our inventory this July was up from last year’s at both the start and the end of the month. We started July 2019 with an inventory that was up 35% from July 2018 and finished the month up 20%.
In July 2019, we netted out the month with a 11% decrease in inventory (112 to 100 properties), but in July 2018, there was no decrease in inventory (83 listings at the start and the end of the month).
Our average list price was down 17% at the end of this July vs. last ($3,090,282 vs. $3,719,465). The average DOM was down 9% this July vs. last (137 vs. 150 days). This is a positive indicator as it means properties were on the market for fewer days.
This year we had significantly more new AND pending activity in July as compared to last year. In July 2019, there were 15 new and 19 pending properties, whereas in July 2018, there were 6 new and 7 pending properties. So the number of new listings was up 150%, and pendings were up 171% this year from last. In July 2019 and 2018, the majority of the new and pending properties were priced below $2M. And 4 of the 15 new listings (27%) that came on in July 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 July 2019 and 2018, those figures were 36% and 40% respectively.
Click here to see all of the details of the new, pending and remaining activity in July 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.