New construction and the associated tear down of older and smaller homes is alive and well in Wellesley.
For the eight month period from 1/1/2011 to 8/31/2011 twenty two new construction single family homes were sold in Wellesley with an average sale price of $2,109,500. The 22 homes represented 10% of the total number of homes sold.
For the same eight month period in 2012 the number of new construction single family home sales increased by 18% to 26 homes. The total number of homes also increased proportionally so that new construction represented 10.1% of sales.
The only significant change from the first eight months of 2011 versus 2012 was a decrease in the average sale price of new construction homes of 10.1% and a corresponding per square foot price decrease of 6.9%.
Fast forward 50 years and at this rate Wellesley may not have any smaller/older homes left to tear down!
What do you think about this trend?
John Prescott, Vice President
Century 21 Commonwealth
592 Washington Street, Wellesley
* Tis’ the season for Wellesley teardowns | The Swellesley Report
- Needham Real Estate, New construction/Tear downs are alive and well! (bostonkayakguy.wordpress.com)
- Condo Hunter. . . NATICK: Nouvelle Condominiums (bostonkayakguy.wordpress.com)
Filed under: economy, Finance, Metrowest, metrowest business, metrowest education, metrowest high school sports, metrowest high schools, metrowest real estate, metrowest schools, metrowest sports, MetWest, mortgages, Newton, Newton Real Estate, Real Estate, Real Estate Listings, Real Estate Market Report, South Natick, South Natick Real Estate, Wellesley, Wellesley Business, Wellesley College, wellesley high school, Wellesley Real Estate, wellesley schools Tagged: | Wellesley Real Estate, Natick Real Estate, BostonKayakGuy, John Prescott, Wellesley, Top Wellesley Realtor, South Natick, Babson College, Wellesley College, john prescott top natick real estate agent, Metrowest, john prescott top wellesley real estate agent, john prescott top metrowest real estate agent, metrowest real estate, metrowest news, boston globe, Boston, metrowest sports, John Prescott's The MetWest Scene, Boston Real Estate, Business, Finance, mortgages, economy, wellesley homes for sale, Single-family detached home, relocating to boston, boston real estate market report, Construction, new construction Wellesley, Wellesley housing market report, Boston housing market report, Wellesley teardowns, Wellesley builders, Wellesley real estate investment, Boston metrowest housing market report, Boston housing data, real estate concierge service Boston, real estate concierge service Wellesley, real estate concierge service metrowest Boston, Boston real estate numbers, Boston August 2012 housing report