Listings Trend
In September 2009 the number of monthly listings compared to last year was up 38.2%. This was the highest level noted in about three years. That comparison
has dropped in each of the past three months, reaching 24.1% in December.
Typically more listings puts pressure on sellers to lower prices.
Average Selling Price Trend
In November 2009 the the average selling price in Weston was off 20% compared to one year ago. This reading was consistent with the longer term downward selling price trend.
In December the trend turned upward. Compared to last December Weston's average selling price was off 9.4%.
Based on one data point, it is very difficult to predict whether or not long term downward trend has finally bottomed out. It will be interesting to see next month data point.
The three-month moving average selling price in December was $1,201,273 vs $1,326,450 last August a drop of $125,177.
Sales Price vs. Assessed value Ratio
In four of the last five months homes in Weston sold for less than their assessed value. The latest three month rolling average showed Weston properties reverted back to selling for 94.6% of assessment.
The sales price to selling price ratio is a critical number because it is often referred to by buyers to frame their negotiations with sellers.
Cost per Sq. Ft.
Over the past three months the average cost per square foot of all homes sold in Weston was $308 (land included). Four months ago the cost per sq.ft. was $329.
Homes that sold for under $1M sold for $263 per sq. ft., while homes selling for over $3M sold for $372 per sq. ft.
To keep this information current only the last 3 months data is used. As a result, small sample sizes in some price ranges may cause this data to fluctuate
noticeably from month to month
Average Days-On-Market
For the past 12 months, it took an average of 164 days to sell in Weston. The average days-on-market varies depending on the price range.
On average, it took as few as 139 days to sell ($500K to $1.5M) and as many as 268 days to sell (>$3M)
Selling Price Ranges
Comparing the most current 12 month period to the one prior, the greatest change occurred with homes listing for $1.5M to $2M. This segment gained 11.4 pts. share points. The most significant loss was noted in homes listing for $1.5M to $2M (8.4%).
Asking vs. Selling Prices
In summary, 94 homes sold in Weston over the past 12-months for an average of 81.6% of their asking price and 99.2% of their assessed value.
This information is offered for perspective only. There is no attempt to present it as a conclusive barometer that should be applied in the future on other properties. Naturally, each property has its own set of variables.
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