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Health & Fitness

May Closed Home Sales Contrary to National

If you've been listening to national reports, you may be surprised! Read this report from local Realtor and Certified Residential Specialist Marilyn Messenger.

The Wayland single family home sale stats for May are another reminder that all real estate is local. While the national media and some of the local media is reporting substantial price increases but fewer sales due to lack of properties on the market.

May Closed Sales: there were 17 single family homes sold during May in Wayland, two more than in May 2012. And, the median sale price of $612,050 was lower than the median closed sale price of $640,000 in May 2012. The average price $631,979 was also lower than the May 2012 average of $701,073.

As in most places houses sold more quickly due to lack of inventory: average time on the market for closed sales during May 2013 was 86 days vs. 137 in May 2012. The average sold to list ratio for original prices was 95% and 96% for final list price; proving that asking more doesn’t mean you will get more! When looking at sold data it is important to keep in mind that it generally takes about 60 days from the time of offer for a sale to close, so the buyers who closed in May made their buying decisions Feb/March when there were even fewer homes available.

Find out what's happening in Waylandwith free, real-time updates from Patch.

New listings: the number of homes that came on the market in Wayland
during May was up substantially from May 2012 - 57 compared 28 in May 2012.
Some of the homes that came on the market had been listed previously and did
not sell so sellers decided to try again; many were price lower and sold, and
some were not and are still sitting. 

Current: As you have been hearing, the number of homes on the market
in Wayland is down substantially from last year at this time (6/17); there are
66 single-family homes for sale compared with 94 on 6/17/12. List prices range
from $249,00 for a 2 bed, 2 bath cape-style home, to $11,800,000 luxury estate
with 28 rooms including with a guest house, and barn on 11+ acres.

Find out what's happening in Waylandwith free, real-time updates from Patch.

The current median list price in Wayland is $857,500. As in Sudbury,
the price range with the most choices is one million to 1.499 million – there
are 13 for sale. The average time on the market for these properties is 112
days; some of these sellers may be ready to make a deal!

Price It Right: Homes sellers who price their houses correctly are getting offers (multiple offers in some cases) quickly; while those who were overly optimistic and went on the market too high are taking longer and we are still seeing price reductions; there were 13 price changes on 11 properties in Wayland during May. The average change was -4.37%.

Be Prepared and Be Careful: People who are serious about buying are acting quickly, especially those who may have missed out on a home they wanted. Being prepared is more important than ever, however, it is still important to think things through and not to make costly mistakes like waiving the home inspection or offering more than you can comfortably afford.

Condominiums (townhouses and garden-apartment style): There were no
closed sales of condominiums in Wayland during May; there were 6 in May 2012.

Current: there are 27 units for sale in Wayland compared with 36 last year at this time. List prices range from $279,900 for one half of aduplex, to $1,199,000 for a luxury townhome at The Fields at Mainstone. The median price for a condominium in Wayland is $674,250 up from $637,000 on 6/17/2012.

Visit www.WaylandHomeSales.com to see what homes are for sale and get the latest information for home buyers and sellers.
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About the author: Marilyn Messenger is a Certified Residential Specialist (only 3% of REALTORS have acheived this designation) who has been representing sellers and buyers for 20 years. She has marketed homes and has managed negotiations successfully in every market. Her fully mobile office provides extra convenience for her clients. Contact Marilyn at 508-596-3501.

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