My head is spinning from reading what Wellesley realtors have to say about the local residential real estate market.
Mark at the Wellesley Real Estate’s blog writes that “Just 40 Wellesley properties have sold since January 1 of this year- an average of 3.6 per week” and goes on to write that properties are getting stale by being on the market so long, forcing big price reductions for sellers.
“Too many agents for whom real estate is a fun hobby? Hmmmmmm.”
That average number of homes selling per week is low when you consider that the average has been over 5 for each of the past 2 years in Wellesley, according to this report, but perhaps the bad weather in Q1 had something to do with it too? I don’t have historical figures at hand.
Meanwhile, another realtor in town assures us that the “SPRING HOUSING MARKET seems to be on fire!”
And over at Pinnacle, the realtors report that “There is more activity at higher price ranges than last year,” citing busy sales in early March and even during the recent February school vacation.