Metrowest August 2011 Market Update

The following information covers Natick, Wellesley, and Newton for 7/21/11-8/20/11. There haven't been significant price changes since last month, aside from the typical mid-summer slow down, but it remains clear that to avoid a long time on the market, sellers must have their homes priced right and marketed well. In some cases, even in the current market, this leads to a sale price above the listing price in a short period of time.


In Natick, there are currently 91 active single family homes on the market for an average list price of $579,000, having been on the market for an average of 119 days.
There are 37 homes under agreement, with an average list price of $496,000. These homes were on the market for an average of 61 days.
In the past month, 27 homes sold for an average of $457,000 (list prices averaging $468,000), after 95 days on the market.

In Wellesley, there are currently 140 active single family homes on the market for an average list price of $1,811,000, having been on the market for an average of 157 days.
There are 23 homes under agreement, with an average list price of $1,373,000. These homes were on the market for an average of 104 days.
In the past month, 43 homes sold for an average of $1,367,000 (list prices averaging $1,451,000), after 126 days on the market.

In Newton, there are currently 185 active single family homes on the market for an average list price of $1,245,000, having been on the market for an average of 126 days.
There are 72 homes under agreement, with an average list price of $981,000. These homes were on the market for an average of 83 days.
In the past month, 72 homes sold for an average of $908,000 (list prices averaging $937,000), after 70 days on the market.


Although they aren't included here, condos and multi-family properties are excellent investments right now, as there is a very strong rental market. Owners can benefit from cash flow and tax deductions if they are able to finance the purchase of a rental property.


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