Just 2 months ago I posted a story on how 98% of Weston Homes for Sale are over $1million. In just a short 2 months, it's amazing how fast Weston real estate inventory has changed. As of March 17th, 2015, there were 60 homes for sale in Weston, and only 1 of those homes was priced under one million. As of May 19th, 2015, there are 105 homes for sale in Weston, and 8 of those homes are priced under one million. Overall inventory is up 75%, and clearly the number of options under one million has increased substantially.
The majority of this is seasonal, as the spring time is when we see the largest increase inventory. The drastic increase is also due to the tough winter we had, which delayed people putting their homes on the market by at least a month. Many Boston single family home owners had leaks, ceiling damage, and repairs that needed to be addressed before they even considered listing their home for sale. We essentially lost an entire month where hardly any properties were being listed for sale. Bottom line is inventory has increased, which is great news for buyers in Weston. Have we seen the same trend in other prices suburbs of Boston? See data below on a few other neighborhoods.
Real Estate in Boston - Inventory increased from 389 condos for sale on March 17th, 2015 to 598 condos for sale as of May 19th, 2015, a 54% increase!
Real Estate in Wellesely - Inventory increased from 59 homes for sale on March 17th, 2015 to 111 homes for sale as of May 19th, 2015, a 88% increase!
Real Estate in Winchester - Inventory increased from 24 homes for sale on March 17th, 2015 to 55 homes for sale as of May 19th, 2015, a 129% increase!
Real Estate in Newton - Inventory increased from 68 homes for sale on March 17th, 2015 to 144 homes for sale as of May 19th, 2015, a 112% increase!
Real Estate in Hingham - Inventory increased from 53 homes for sale on March 17th, 2015 to 88 homes for sale as of May 19th, 2015, an 66% increase!