Weston Real Estate Market Report

May has been a strong month for Weston real estate and inventory numbers are on the rise. More homes for sale mean more selection for all of the buyers currently in the market. There are a variety of homes to choose from ranging in size and price.

There were 15 single family homes sold this past month in Weston, MA. Currently, 84 homes remain on the market for sale and there are another 32 homes under agreement, waiting to close. Sales remain consistent during the month of May compared to May 2012 – which tells us that the market has maintained its strength.

The following listings represent the highs and lows of the transactions that occurred during May. By looking at the averages, it will paint an overview of the market during this period. The range of homes sold this past month include everything from a  four bedroom three full bath listed for $595,000 which sold for $575,000 to a six bedroom four full and one half bath listed for $2,100,000 and sold for $1,900,000. The average listing price of a single family home sold in Weston during May was $1,272,894, while the average sale price was $1,225,783. That is an incredible 4% differential, which reveals that homes are being priced to sell!  Again these are averages, and the extremely small gap between asking price and sale price is dependent upon the home itself. This data supports that proper home pricing will most likely lead to a quick successful sale.

The average days a single family home sat on the Weston market during May was 121 days. However, 12 of the 15 homes that sold, over 75%, sold in less than the average time ! Over the past few years, we would have not seen numbers like these since homes were stayingon the market longer because it was s a more challenging economic time, but the tides are changing!

What these numbers tell us is that the overall market supply is increasing. Homes are selling quickly if they are priced correctly. There is stilla pent up demand, which is why homes are being sold in nearly 4 months’ time, and even sooner! The wide variety of homes currently listed in Weston allow for a variety of choices for buyers. Paying attention to the pricing trends in the area will allow you to make a well-informed offer. Your agent can help you sift through the options available to find the best home for you and your family.