Wayland Real Estate - Local Market Conditions

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Here is what's going on in the Wayland residential real estate market: While there are still some excellent opportunities for home-ownership, Wayland does not have the huge supply of homes that national headlines continue to report - there are only 97 compared with 95 one year ago - so inventory looks pretty stable. The good news for buyers is that list prices have dropped - the median list price is $695,000, approximately 7% less than last year; and the average is $887,388, approximately 13% less than one year ago. During the past three months there have been 77 price changes on 51 homes in Wayland and the average reduction was -5.78%.

Like most towns in the area, year-to-date closed sales are down substantially - only 13 compared with 30 last year; as are median and average sale prices. The median sale price so far in 2008 is $455,000 down from $494,500 last year; the average for 2008 was $534,692 compared with $588,607 for the same period last year.

The bright spot for sellers was that it took 28% less time to sell than last year - average time on market was 141 days vs. 198. Also, after a late start, spring market activity is picking up - five of the 97 active listings have accepted offers with contingencies waiting to clear and there are currently 21 single-family homes with sales pending. While recent sales comparisons are helpful and interesting, the market is what's going on today so buyers who continue to wait may find fewer choices and who can predict what will happen with interest rates…we know today that rates are still historically low.

For anyone looking for easy living, Wayland has 24 condominiums on the market. Condominium prices range from $395,000 to $1,200,000 and average time on the market is 177 days. There are only 1 sale pending. Condominium buyers certainly have some good opportunities Wayland!

To find out about opportunities in Wayland call 508-596-3501 or visit www.marilynmessenger.com.

Source MLSPIN (Multiple Listing Service Property Information Network) 4/23/08.

ZIP Code: 01778

Location Characteristics: With its great location, sought-after schools, and country charm, it's no surprise that Wayland ranked #2 out of 147 MA towns and cities in Boston Magazines April edition of Best Places to Live/Best Bang for the Buck, comparing cost of living to quality of life. Just 18 miles west of Boston. This residential community features quaint, winding roads graced by some of the most beautiful houses and landscaped gardens in the state. Convenient to the Massachusetts Turnpike, Wayland is a popular choice with commuters to Boston or those employed along the high technology corridor.

A strong community spirit, careful zoning and planning, a progressive government, and a commitment to preserving the town's country atmosphere are all responsible for Wayland's quality of life. Small shopping centers meet daily retail needs, although larger malls are close to home.

Public schools have an outstanding reputation as a quality system with a strong college preparatory program. A natural wildlife preserve set along the Sudbury River and Lake Cochituate provide a scenic backdrop for many outdoor activities such as swimming, fishing, canoeing, and sailing. Other amenities include golf courses, playing fields, tennis courts, cross-country ski trails, and the National Wildlife Refuge along the Sudbury River.

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About Marilyn Messenger, CRS:
"Marilyn exemplifies what every real estate agent should be. She was professional, thoughtful and tough when she needed to be. I would not have made it through if Marilyn was not at the helm. I cannot recommend her highly enough" - Jessica

"Marilyn went beyond the call of duty...All the 'i's were dotted and the 't's were crossed in a very professional manner. You [William Raveis] are fortunate to have her on your staff" - Alice

…Thanks so much for all you did to help us through the process of buying our first home...[Marilyn] made the process easier than we ever thought possible." -- Matt & Julie

Marilyn Messenger has been representing buyers and sellers of residential real estate west of Boston since 1993. She is a licensed Broker (not a salesperson), and additionally, she has earned the following designations: CRS - Certified Residential Specialist - only 3.5% of Realtors nationally have completed the requirements for CRS; ABR - Accredited Buyers Representative; SRES - Senior Real Estate Specialist; RECS - Real Estate Cyberspace Society members are dedicated to using the latest technology to benefit their clients. She is also a member of the MA and National Association of Realtors.