Here are the Weston MA Homes Sold for December 2018. Wow - interesting way to end the year. We were down on all counts as compared to the metrics of December 2017 - something we only experienced once this year and that was in September. And so, unfortunately, it wasn’t a strong close to 2018. Here are the details:
Number of Sold Properties – 9 in December 2018 vs. 18 in December 2017
Total Market Volume – $15,131,500 in December 2018 vs. $31,957,900 in December 2017
Median Price – $1,350,000 in December 2018 vs. $1,577,500 in December 2017
Average Sale Price – $1,681,278 in December 2018 vs. $1,775,439 in December 2017
Our lackluster December 2018 sales figures had a marked effect on our year-to-date numbers and how we netted out for the year. Throughout most of 2018, our metrics were up from those of 2017 with the exception of number of sold properties, which has been down consistently since August. But given the December 2018 results, both number of sold properties and total market volume were down this year from last. (Note that total market volume was down - but just barely so.) It’s not a surprise that the percentage differentials fell across the board too. But on the good news front, median and average sale price were both up. Here are the specifics:
Number of Sold Properties – 163 in 2018 vs. 186 in 2017 – down 12% this year (it was down 8% in last month’s report)
Total Market Volume – $313,344,466 in 2018 vs. $314,643,892 in 2017 – down 0.41% this year (it was up 5% in last month’s report)
Median Price – $1,537,500 in 2018 vs. $1,397,500 in 2017 – up 10% this year (it was up 12% in last month’s report)
Average Sale Price – $1,922,359 in 2018 vs. $1,691,634 in 2017 – up 14% this year (it was up 15% in last month’s report)
There weren't any land sales in December 2018.
Although December 2018 wasn’t a strong close to the year, producing a downward effect of on the year-to-date numbers, I’d like to offer a bit of perspective. First and foremost, while our number of sold properties and total market volume were down in 2018 from 2017, we were still at record level highs. The total market volume in 2018 was only $1,299,426 less than the 2017 number (a decrease of 0.41%), which amounts to the sale of approximately one house - at least in the Weston market with an average sale price of $1,922,359. And this leads to my next point…. Our average sale price of $1,922,359 and median price of $1,537,500 were higher in 2018 than they’ve ever been in the history of Weston real estate! One other piece of good news for 2018 was that our days on market (DOM) and days to offer (DTO) were 130 and 87, respectively, and these numbers were lower than they’ve been since 2014.
It wouldn’t be right to close out my year-end home sales analysis without a brief look at how the Weston condominium and land markets fared in 2018 vs. 2017. Here is the synopsis:
Condominium Sales - 2018 vs. 2017 - down on all counts this year from last
Total Market Volume – $10,114,500 in 2018 vs. $24,128,100 in 2017 – down 58% this year
Median Price – $615,000 in 2018 vs. $1,112,500 in 2017 – down 45% this year
Average Sale Price – $1,123,833 in 2018 vs. $1,508,006 in 2017 – down 25% this year
Land Sales - 2018 vs. 2017 - up on most counts this year from last
Total Market Volume – $8,036,000 in 2018 vs. $6,912,500 in 2017 – up 16% this year
Median Price – $1,250,000 in 2018 vs. $1,000,000 in 2017 – up 25% this year
Average Sale Price – $1,148,000 in 2018 vs. $987,500 in 2017 – up 16% this year
On a final note, I’m sending you and your families my best wishes for a happy, peaceful, healthy and prosperous New Year filled with great times, tons of fun and so much love! 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.