New Year, New Market

New Year, New Market

As we begin 2023, we are dealing with historically low levels of inventory with rising interest rates which has resulted in a more balanced market where home prices are likely to remain stable, bidding wars are less common, and buyers can breathe while conducting their home searches.
The National News does not reflect what is happening locally. Sellers should know that there are still plenty of buyers out there but the hikes in rates have had an impact on what they can afford. This is not a buyer’s market, but it is a balanced or realistic market. Prices are still high but accurately pricing your home and working with an experienced, local agent will be more important than ever.

Wellesley, MA Total Sold Market

2022 vs. 2021 Single Family Homes

  • 298 Total Properties Sold
    • -10.27% YoY
  • 105% List to Sale Price Ratio
    • +.03% YoY
  • $2.09 Average Sale Price (in mill.)
    • +6.5% YoY
  • 20 Average Days on the Market
    • -10.2% Yo

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