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Weston MA 02493

Local Market Conditions - August 2011

 

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Welcome to the August 2011 Real Estate Market Conditions Report for Weston Massachusetts.

Lots of excellent opportunities in the luxury property market in Weston; there are currently 110 single family homes for sale compared with 95 at this time last year. 8 of the 110 listings have offers accepted and are being shown until contingencies are cleared. Current list prices in Weston range from $379,000 to $19,500,000. The median list price is $1,747,950; the average is $2,580,000 – both lower than last year but not significantly. For people looking for easy living, there are 18 condominiums for sale in Weston with prices ranging from $279,999 to $2,695,000. There are also 14 rental properties. Rents range from $3,000 to $14,000 per month; the median rent is $4,400 per month. Like many of the sought after towns in Massachusetts there is very little land available for building new homes. There are 23 listings for land currently on MLS the majority of which have existing properties on them. Although, removing a property can add some cost, the trade-off is less challenging site work; and many of these parcels are in excellent locations.

There were 17 closed sales in July 2011, almost twice the number in July 2010. Median and average sale prices were lower than last year. The median in July 2011 was $800,000; the average was $1,013,412. The median in July 2010 was $1,170,000; the average was $1,369,586. The drop was dues to the increased number of short sales and bank owned properties. Y-T-D, there were 67 closed sales through 7-31; the median price was lower while the average was higher than for the first seven months of 2010.Click here to search for homes at your convenience and sign up for daily listing alerts. “Like” us on Facebook www.facebook.com/livingwestofboston where you’ll find the latest market and community information about Weston and the nearby towns west of Boston.

Data source: MLSPIN

ZIP Code: 02493 
Approximate Location Boundaries: Eastern Massachusetts, bordered by Lincoln on the north, Waltham and Newton on the east, Wellesley on the south, Natick on the southwest, and Wayland on the west. Weston is 12 miles west of Boston, 27 miles south of Lowell, 29 miles east of Worcester, and 207 miles from New York City.

Location Characteristics: The Town of Weston is an attractive suburban town on the perimeter of metropolitan Boston. Residents are very proud of the town's school system and the handsome homes in quiet, well-kept neighborhoods, but tend to brush off the town's reputation as one of the most affluent communities in the state. Weston has carefully retained significant amounts of open space and maintains over 60 miles of hiking and horseback riding trails, playgrounds, ball fields, golf courses and cross-country skiing areas. (source: Town of Weston web site) 
 

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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, The Luxury Homes Marketing Institute, and the RE/MAX Collections Group.