Blog: Wayland Housing Market Update: Sales Up, Prices Down, Inventory Low

Sales up; prices down; lower inventory ... check out the latest market update from local Realtor and Certified Resdiential Specialist Marilyn Messenger.

Current (10/29): There are 74 single family homes for sale in Wayland; last year at this time there were 105. List prices range from $189,900 to $14,900,000. The median list price is $832,500. Last year at this time the median list price was $629,000.
Although, overall inventory is lower in Wayland, the number of homes for sale in the $900,000 - $999,999 range has increased over last year. There are 10 on the market, compared with just one last year. Home buyers in this price range who would like to live in Wayland have some good opportunities right now!

New Listings: Only three single-family homes came on the market in September, compared with nine in September 2011. For people thinking about selling their home in Wayland, low inventory makes this a good time to go on the market. There will be less competition from other sellers and serious buyers who want to move before the winter or who are starting jobs in January are anxious to see newly listed properties. Click to see the list of single-family homes for sale in Wayland.
Closed Sales September 2012: There were 10 closed sales of single family homes in Wayland during September 2012; there were 14 during September 2011 – a decrease of 28.6 percent. The median sale price was $500,000, also a decrease (-28.5 percent) from September 2011 when the median sale price in Wayland was $699,500.
Pending Sales: Pending sales for single family homes in Wayland were also lower than in September 2011; seven compared with 11.
Y-T-D through Sept. 30, 2012: The number of closed sales was up by 40 percent in Wayland for the first nine months of 2012; there were 147 compared with 105 for the same period in 2011. However, the median sale price was 3.6 percent lower than in 2011; $542,000 compared with $562,000.
Condominiums: Sales of condominiums, including garden style and townhouses, was down by 33.3 percent; there were two closed sales in September compared with 7 in September 2011. Sales for the first nine months were up by 35.5 percent; 42 sold compared with 31 the previous year. The median sale price in September, $509,950 was 13.4 percent higher than in September 2011; the median YTD sale price, $463,750 was lower by 15.7 percent than for the same period in 2011. 

New Construction: Wayland has a good supply of new construction including single-family luxury properties/estate homes and townhouse condominiums available. Buyers can have their own buyer agent/broker when purchasing new construction, and there are many advantages to having your own agent who will act in your best interest; however, your agent must accompany you to the site on your first visit, or you will lose your right to representation and that will cost you money and stress.

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