For those of you who love market stats, here’s the February 2019 Curlett Report for Weston MA Real Estate.
We began February 2019 with 46 active* properties on the market. During the course of the next 28 days, 17 new** listings came on the market, and 7 properties went pending** (Contingent or Under Agreement). We ended the month with 61 listings, an average list price of $3,303,236, and an average days on market (DOM) of 152.
Looking back a year, February 2018 began with 51 active* properties on the market. During the course of the month, 19 new** listings came on the market, and 16 properties went pending**. We ended the month with 60 listings, an average list price of $3,499,481, and an average DOM of 190.
To summarize a few key points:
Our inventory in February this year was less than what it was last year at the beginning of the month, but the opposite was true at the end of the month. The trend we’ve seen for the last several months is an inventory count that has been down in the current year from the previous one at both the beginning and end of the month. But not this month! We started February 2019 with an inventory that was down 10% from February 2018 but finished it up 2%.
In February 2019, we netted out the month with a 33% increase in inventory (46 to 61 properties), and in February 2018, there was a 18% rise in inventory (51 to 60 listings). These percentage increases are typical for the month of February as the Spring market gets underway.
Our average list price was down 6% at the end of this February vs. last February ($3,303,236 vs. $3,449,481). The average DOM was down 20% this February vs. last (152 vs. 190 days).
This year we had less new and pending activity in February than we did last year, which was the same case in January. In February 2019, there were 17 new and 7 pending properties, whereas in February 2018, there were 19 new and 16 pending properties. So the number of new listings was down 11% and pendings were down a significant 56% this year from last. The new inventory this year was more skewed toward the higher end (above $2M) than it was last year, which was also the case in January. Specifically this year, 35% of the new listings were priced below and 65% were priced above $2M. Last year, those numbers were the opposite with 58% of the new listings priced below and 42% priced above $2M. In terms of the pending listings, the majority were priced below $2M this February and last, though more strikingly last year (57% in 2019 vs. 75% in 2018).
Click here to see all of the details of the new, pending and remaining activity in February 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.