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A Look at the Wellesley Real Estate Market

A brief market description of the Wellesley housing market today.

The Wellesley housing market was busy in the last 30 days, with 15 single-family homes sold. The average listing price of these homes was $1,411,987 and the average living area of the homes sold was 2,776.73 square feet. The average cost per square foot for the listing price of these homes was $460 and these homes were on the market for an average of 155.87 days. 

The sales prices were not that far off the listing prices with the average sale price being $1,334, 367. This is, on average, 95 percent of the asking price which means sellers are getting very close to what they are asking. 

This matches the many news stories that suggest the housing market is on the upswing and sellers are raising their asking prices. Additionally, the average cost per square foot for these sold homes came in at $435 – just $25 off the per square foot asking price. These figures indicate a shift in the market, where sellers are more in control. If you have been sitting on the fence, the data suggests that it is a good time to sell.

The homes sold ranged from a 14-room, five bedroom, six full- and two half-bathroom colonial that sold for $4,200,000 to a five-room, three bedroom, one full-bath cape that sold for $353,000. The list price for the cape was $389,000 and the list price for the colonial was $4,349,900. This wide range shows that there truly is something for everyone here in town.

If you're interested in what is currently available, we've got 115 single family homes listed for sale. These range from a five-room, two bedroom, one bathroom colonial on the market for $249,900 to a 19-room, seven bedroom, seven full- and two half-bathroom colonial on the market for $14,500,000. Of these homes for sale, there are 21 that have active offers which have been accepted. 

With the market on the upswing, and fall being a glorious time to showcase a home, we encourage those who have been sidelined in this downed market to take action –odds are good you’ll come out better than you expected. 

This post is contributed by a community member. The views expressed in this blog are those of the author and do not necessarily reflect those of Patch Media Corporation. Everyone is welcome to submit a post to Patch. If you'd like to post a blog, go here to get started.

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