For Those Who Love Market Stats: Solds in Weston, MA December 16-31, 2011 & Year-End 2011 vs. 2010 Too

For those of you who love market stats,* click here—December 16-31 2011 Solds in Weston MA—to see information on the single-family homes that sold/closed in the last two weeks of December in Weston, MA.

Much of the market data was stronger for the last two weeks of December 2011 vs. the same time period in December 2010. We had three times as many sold properties (six in 2011 vs. two in 2010) and a market volume that was more than three times higher ($12,404,500 in 2011 vs. $3,690,000 in 2010). Interestingly, though, the median price was lower ($1,782,250 in 2011 vs. $1,845,000 in 2010). In terms of land sales, there weren't any for the last two weeks of December.

Looking at the month in total, while there weren't as many sold properties in December 2011 vs. December 2010, our market volume and median price were higher for the month in 2011 vs. 2010. Specifically, seven properties sold in December 2011 vs. eight in December 2010, the market volume was $13,804,500 in 2011 vs. $12,582,500 in 2010, and the median price was $1,764,500 in 2011 vs. $1,288,750 in 2010.

The trend we see above is consistent when we analyze the year-end numbers of single-family homes in 2011 vs. 2010. Once again, although there weren't as many sold properties in 2011 as there were in 2010, our market volume and median price numbers were higher this year than last. Specifically 107 properties sold in 2011 vs. 114 in 2010—so this number was down 6.5% in 2011. However, total market volume was $161,975,594 in 2011 vs. $149,894,061 in 2010, or up 7.5% in 2011. And the median price was $1,150,000 in 2011 and $1,091,500 in 2010, or up 5.1% in 2011.

These figures make sense as we further analyze the sales activity, especially with the high-end properties. In 2011 our high-end sales were much more significant than those in 2010. We had 13 sales above $2,500,000 in 2011 vs. 10 in 2010. And yet, three of these 13 high-end properties sold for more than $5 million, and together the total sales for these properties was almost $30 million. One property sold for $5,825,000, another for $8,350,000 and the third—Weston's highest sale ever—for $15,600,000. By contrast, in 2010 the highest property that sold was for $3,725,000. As you can see, the high-end sales in 2011 had a significant effect on both market volume and median price.

We don't have a complete picture of the market without looking at the the year-end land sales. And when we analyze the numbers for 2011 vs. 2010, what we learn is quite interesting, to say the least. In 2011, there were just four land sales with a total market volume of $4,545,000 and a median price of $1,070,000. In 2010, there were more than three times as many land sales. Specifically, there were 14** land sales with a total market volume of $16,948,000 and a median price of $1,042,500. When you add the land and single-family year-end sales, it turns out that the total market volume for 2011 is very slightly less than that in 2010 ($166,520,594 in 2011 vs. $166,842,061 in 2010). The market volume gain from the 2011 high-end, single-family sales is offset by the much higher number of 2010 land sales.

Now that 2011 is over, we turn our sights to 2012, await what the new year will bring, and hope that it is a strong, healthy year for real estate. As always, I hope you enjoy this information, and please let me know if you have an interest in learning more about other market stats so I can provide this additional data for you. Also, if you are considering putting your house on the market in the spring, please contact me (781-267-2844 or www.homesalesbylisa.com) for a complimentary home appraisal or with questions about the market. And last but not least, Happy New Year!

* These market figures are based on information provided to and compiled by Pinergy/MLS Property Information Network, Inc.

** MLS reports 15 land sales for 2010, and yet one property was counted twice, as a single family home and as land. Note that many of these "land" sales are sales of properties with single-family homes that are ultimately torn down.