Home Sales Slow in Weston, But Prices Go Up

Recently-released data from The Warren Group shows that for August 2011, the number of homes sold in Weston went down, but the median price of those sold homes went up.

In August 2010, 20 homes were sold and in August 2011, 15 homes were sold. But in August 2010, the median sale price was about $945,000; in August 2011, it was $1.35 million, up 43 percent.

This deviates from the state average, where home sales went up significantly when comparing August 2010 to August 2011.

"On the surface, the August numbers appear to be very strong. But we're comparing sales volume to a month last year when buyers were retreating after the tax credits expired," said Cory S. Hopkins, managing editor of Banker & Tradesman, owned by The Warren Group.

Last August was the slowest in two decades, according to a press release sent out by The Warren Group. About 3,600 homes were sold in the state, which was the first time that number went below 4,000 in August since The Warren Group began tracking data in 1987.

Hopkins was not optimistic that the strong August sales for the rest of the state would continue into the fall.

"Summer sales have held steady, but we remain unsure if this will continue. It is unlikely sales volume will surpass the large numbers posted in 2010," he said.