Date: 2010-01-29, 8:27AM EST
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South Natick, dover, sherborn, needham, wellesley, boston globe, open houses, framingham
14 Dwight (google map)
JOHN PRESCOTT
-BostonKayakGuy
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
JOHN PRESCOTT
Vice President
Century 21 Commonwealth
508-523-9252
BostonKayakGuy…The MetWest Scene
Charles River Falls, South Natick
Real Estate in NATICK exhibited resilience and stability for 2009 « BostonKayakGuy John Prescott’s The MetWest Scene… http://bit.ly/5o8BeY
JOHN PRESCOTT
-BostonKayakGuy
Top Real Estate Agent for more than 14 years, serving the real estate needs of Wellesley, South Natick, Weston, Needham, Wayland, Newton, Framingham and other MetWest communities. www.johnprescott.net
JOHN PRESCOTT
Vice President
Century 21 Commonwealth
508-523-9252
BostonKayakGuy…The MetWest Scene
NEW LISTING, First Ad!
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John Prescott, Vice President | Century 21 Commonwealth | 508-523-9252
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How do the MLS single family numbers for the first 9 months of this year compare to the same period last year?
While WELLESLEY has made up some ground from dismal sales earlier this year, sales dollar volume through 9/30/2009 remains down by 32.5% and unit volume is down 20.6% as compared to last year. Inventory levels as of 10/7/2009 in Wellesley have increased a dramatic 48.9% as compared to the same date last year. Wellesley’s median price for this period has fallen 16.8%.
NEEDHAM continues to hold ground for this period with unit volume nearly flat and dollar volume off just 6.4%. Needham’s median price has slipped a modest 4.4%.
NATICK picked up a little momentum for this period with a 6.95% increase in unit volume and a 7% increase in dollar volume. Natick’s median price has remained stable for this period. With the inventory of single family homes in Natick dropping by 22.4% on 10/7/2009 as compared to 10/7/2008 it appears the supply of homes for sale is not keeping up with demand.
Natick Sellers! This means now may be a good time to sell. It is possible that a large inflow of inventory in the Spring could satisfy demand and soften prices?
SALES Units…………….- 20.6%…………………. + 6.95%………………….. - 1.4%
$ VOLUME……………….- 32.5%……………..…….+ 7.0%………….………….- 6.4%
Median Price…………….- 16.8%.……………..…… flat …………………………. -4.4%
Units in Inventory.. …. + 48.9% ………… -22.4%…...……………….. +8.9%
As I have reported earlier this year the market varies greatly by town.
Needham and Natick are demonstrating stability and equilibrium with sales and inventory in balance.
Wellesley on the other hand has seen both sales units and dollar volume plummet by 42.8% and 51.3% respectively.
Combine drastically lower sales in Wellesley with inventory that has skyrocketed 74.8% and you get a market significantly out of balance.
Perhaps sellers are trying to out wait cautious buyers? More likely, by waiting to reduce their asking prices, sellers will ultimately have to sell at an even lower price. The alternative is to not move.
NEEDHAM and NATICK are stabilizing and WELLESLEY needs a dose of reality to regain equilibrium.
SALES Units.………….. flat…………………...…..- 42.8%…………………….. – 11.0%
$ VOLUME ……………- 2.6%……………………. – 51.3% ……………………..- 14.1%
Median price………….. flat ………………………..- 3.7% ………………………+ 4.9%
Units in Inventory….. + 2.6% …….. ……………. + 74.8% …………………….- 12.5%
Two major factors are at play in the local real estate markets. The basic law of supply and demand, or in the case of Wellesley, oversupply, and the credit markets that remain heavily biased against jumbo loans needed to finance the vast majority of homes in Wellesley.
Despite some modest improvement from the first quarter, the numbers tell us that home prices in Wellesley still face downward pressure before the market will gain equilibrium.
Your thoughts?
CENTURY 21 Commonwealth
…JOHN gets results because he knows his business!
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Purveyor of metrowest homes Wellesley Natick Needham Framingham Weston "South Natick" REAL ESTATE *Relocation expert international clients, local companies * Advisor to Babson Wellesley Olin College
For the past 14 years, John Prescott has been an award winning real estate professional focusing on luxury homes in Natick, Wellesley, South Natick, Weston, Wayland, Needham, Dover, and Framingham.
An entrepreneurial businessman, graduate of Babson College, and formerly associated with the Federal Reserve Bank of Boston, Prescott is well known in greater Boston's metrowest communities for providing clients exemplary service, innovative technology, and financing acumen.
He has worked extensively with people relocating to Boston from the West Coast, as well as many European and international clients. John has had the pleasure of working with many companies including eInk, Boston Scientific, Staples, Gillette, Newton-Wellesley Hospital, and Nordstrom's.
John Prescott is recognized as the Neighborhood specialist for South Natick, Farm Hill, Eliot Hill, Algonquian, Walnut Hill, Wellesley, Cliff Estates, Fells, Dana Hall, Country Club, Westgate, Poet's Corner and College Heights.
John Prescott's take on the current real estate market? "The challenge of investing in real estate in today's economic climate is complex, yet given the opportunity, it is a challenge I welcome."
Ocean kayaking, real estate investing, and travel are Prescott's favorite pursuits. Fine wine, stimulating conversation, and the company of his family occupy Prescott's time when he's not surfing the waves in his kayak, but only once his clients have been accommodated.
JOHN PRESCOTT'S expertise boils down to one thing: HE delivers the whole package.
John Prescott has enthusiasm! He's thrilled to work with individuals looking to downsize, families looking for more expansive space to meet their needs, as well as first time buyers. Specific segments of his clientele include recent college graduates, corporate relocations, new college faculty and staff, families looking for specific neighborhoods, investors, and individuals looking to make real estate purchases which are a "good value."
JOHN PRESCOTT'S PHILOSOPHY:
When working with sellers, John Prescott states, " I'm in it, to sell it. I hire staging consultants, floor plan graphic illustrators, produce virtual tours, expert photography, and individually tailored marketing campaigns. I establish a highly visible internet presence for each listing, tapping into web applications used by various and specific segments of the buyer audience."
"And most importantly, I will tell you the truth. Houses sell when they are priced correctly. I do extensive research and evaluation to determine the appropriate listing price."
"And I will be there every step of the way in your contract negotiations. I pledge to negotiate the best terms possible, and will assist you in making the sometimes difficult decisions necessary in real estate transactions. I am, and will be, your best advocate."
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John Prescott's The MetWest Scene
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John Prescott, Vice President, Century 21 Commonwealth
http://activerain.com/topmetrowestrealestateagent
Greater Boston, Metrowest, Natick, Wellesley, South Natick, Needham,Weston, Wayland, Dover, REAL ESTATE. John Prescott is an award winning real estate investing expert for metrowest Boston.
Neighborhood expert for Farm Hill, Algonquian, Eliot Hill, Whitridge, Charles River, South Natick, and Wellesley neighborhoods Poet's Corner, Country Club, Fells, Westgate, Cliff Estates, Hills, downtown, College Heights, and others.
Real estate adviser to Babson, Olin, And Wellesley College communities.
No one knows this area better than John Prescott!
He'll Make It Happen!!
Subscribe now to his customized searches; and call him at 508 - 523 - 9252.
www.BostonKayakGuy.com/wordpress.com
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