Wellesley REAL ESTATE Takes Flight As The First Half of 2010 Beckons

For the first five months of 2010 –  as compared to the same period last year – Wellesley demonstrated its ability to adjust to market conditions and rebound.

WELLESLEY unit sales are up a stunning 83% and market dollar volume is up 78.2%.

The $1.5MM – $2.0MM price range experienced ten fold growth over last year with 20 homes selling compared to just 2 for the same period last year.

Closely following was the $700K – $999K range which increased from 11 homes in 2009 to an impressive 36 homes for this year.

The lower end under $700K, as well as the upper end over $2.0MM experienced modest growth.

All this action came with a 10% reduction in the median price overall, and a larger decline in median price for the high end homes.

Below are the percentage changes in WELLESLEY from 5/31/2009 to 5/31/2010:

SALES Units……………………………… + 83%

$ Volume………………………………….  + 78.2%.

Median Price…………………………….   (10.0%)

Units in Inventory…………………….  (13.4%)

Average Days on Market……………. + 17.9%

The numbers tell us that sales volume is up sharply, prices have moderated,  and  inventory levels have declined.

While the market is looking up, inventory levels remain bloated in Wellesley and may still need to be reduced, in order for prices to stabilize across the board.

But in general,  market conditions in Wellesley are on track for a great 2010 in Real Estate!

John Prescott, Vice President

Century 21 Commonwealth

508-523-9252

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One Response

  1. […] Wellesley REAL ESTATE Takes Flight As The First Half of 2010 Beckons (bostonkayakguy.wordpress.com) […]

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