Pinnacle Residential Properties: wild overbidding has come back down to Earth

Pinnacle, Wellesley

SPONSORED CONTENT: Below are homes sold in Wellesley July 21-August 2, 2022, as listed in the MLS database. Note, these are homes that went under contract an average of 60 days before closing. Spring prices were exceptionally strong, peaking in April, as was overbidding and multiple offers. It is still a strong sellers’ market, however, as interest rates have continued to rise, agents have definitely seen fewer multiple offers, and wild overbidding has come back down to Earth.

Pinnacle 8/9/2022 sales

Average list price: $1,815,996

Average sale price: $1,873,284