Martin Kalisker, WEICHERT, REALTORS®- Synergy: Metrowest's Preferred Realtor

As of March 31, 2009, there were 105 single family listings in Weston on the Multiple Listing Service (MLSPin). During March, 28 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $1,650,090. It is startling to see so many new home listings added to the market given the growing age of the inventory and market absorption rates. Serious sellers would be well-advised to price to sell, rather than chase the market with on-going price improvements. Also, if you didn't see the recent 60 Minutes special about the growing number of foreclosures due to option arms - Weston, just like many other affluent towns in Metrowest is going to experience a growing number of short sales and foreclosures in the near future, thus continuing to put downward price pressure on current home listings from "non-distressed" home owners. In other words, if you don't need to sell, now would not be the best time to "dip your foot in the water."

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 35 months. That is to say, based on the volume of sales during the past month, it will take almost 3 years to sell all of the single family homes currently in inventory and sitting on the Weston market.

The average list price for a single family home is $2,210,973. The lowest price is $469,000 and the highest price is $14,000,000, with the largest concentration of homes (38.1%) priced in the $1,000,000 to $1,999,999 price range. Of note, the average list price for a single family home in March 2008 was $2,229,414.

The median price is $1,645,000 and the average days on market are 185 days. This compares to a median list price of $1,740,000 and average days on market of 194 days as of March 31, 2008.

There were 3 properties that went under agreement during the month of March (March 2008- 11 properties). 2 single family homes sold during the month, with the average sales and median price being $814,500, with the average days on market being 70 days. Compare this to3 properties sold during March 2008, with an average and median sales price of $1,193,667 and $1,425,000, respectively, and the average number of days on market being 208 days.

During March 2009:

17 properties experienced price changes averaging -7.01%

Sales price to original price was 96%

Sales price to (last) adjusted price was 99%

7 property listings expired with an average days on market of 189 days

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

What am I doing in the office late on the first truly HOT day in Boston since last summer writing on my ActiveRain blog and why can't I be doing this outside on my laptop? Great question. But that's not the subject of this blog.

I want to talk about variable rate commissions from real estate brokers. Who really benefits from this - the home seller or the agent?

For those of you unfamiliar with the subject, many agents obtain listing appointments with potential home sellers and "soften" the "sting" of their commission by saying something like "of course, if you allow me to sell the home to my list of buyer clients, I will definitely reduce my commission by x%." But isn't there a catch? If the listing agent sells the home to one of his buyers, then he becomes a dual agent and then doesn't he only have an obligation of fair accounting and full disclosure to BOTH the seller and the buyer?(Say "yes" people.) By agreeing to reduce the commission if the seller allows the agent to become a "disclosed dual agent", it seems to me that the agent has just sold the home seller short - he can no longer negotiate on the seller's behalf and may have a conflict when presenting the results of the home inspection to the seller based on the buyer's instructions.

What I'm getting at, of course, is a request to end this process and a plea for the consumer to become educated on this subject. If, for example, the listing agent says that their commission is 6 apples (which they will split 50%-50% with a "cooperating broker", but they will only charge you 5 apples if you allow them to sell your home to one of their buyer clients - isn't it worth that extra apple to make sure that your agent represents your interests and ensures that your interests are superior to anyone else's? Isn't that why you are hiring the agent in the first place? Do you really think the agent is going to work harder for those extra 2 apples that he gets to keep? The answer is generally "no".

Think of another example - Agent X has 3 listings in your neighborhood. You are attracted to Agent X because they are the "neighborhood specialist." Agent X dazzles you with their knowledge and charms you with their success stories. But hold on - shouldn't you ask them why they think that they can fairly represent you as the seller if in fact, they represent the three listings which are in competition to your home selling first?

Just some things to ponder on this wonderful afternoon. I'm off to find an iced-tea.

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

As of March 31, 2009, there were 79 single family listings in Wayland on the Multiple Listing Service (MLSPin). During March, 19 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $886,409. I wish I knew how to explain what is going on with single family home sales in Wayland. Home sales are up for the year when compared to 2008, but market absorption and pricing of current inventory is bucking up and screaming for attention. What appears to be selling in Wayland are homes priced well below the market average (which is already skewed because of one luxury listing), but still, there is a large percentage of homes currently in inventory that are priced above the median price. Also startling is the growing age of the inventory and market absorption rates. Serious sellers would be well-advised to price to sell, rather than chase the market with on-going price improvements. Also, the growing number of short sales and foreclosures in Wayland and throughout Metrowest will continue to put downward price pressure on current home listings from "non-distressed" home owners.

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 26.67 months. That is to say, based on the volume of sales during the past month, it will take over 2 years to sell all of the single family homes currently in inventory and sitting on the Wayland market.

The average list price for a single family home is $926,945. The lowest price is $199,000 and the highest price is $6,500,000, with the largest concentration of homes (36.7%) priced in the $500,000 to $799,999 price range. Of note, the average list price for a single family home in March 2008 was $905,577.

The median price is $659,000 and the average days on market are 179 days. This compares to a median list price of $699,900 and average days on market of 173 days as of March 31, 2008.

There were 9 properties that went under agreement during the month of March (March 2008- 8 properties). 3 single family homes sold during the month, with the average sales price being $606,667 and the median was $656,000, with the average days on market being 300 days. Compare this to 5 properties sold during March 2008, with an average and median sales price of $507,980 and $510,000, respectively, and the average number of days on market being 114 days.

During March 2009:

22 properties experienced price changes averaging -5.03%

Sales price to original price was 90%

Sales price to (last) adjusted price was 92%

2 property listings expired with an average days on market of 220 days

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

Monthly market performance:

As of March 31, 2009, there were 100 single family listings in Needham on the Multiple Listing Service (MLSPin). During March, 36 new single family listings were added to our MLSPin and an additional 6 single family homes were relisted for sale on the MLS, with an average list price of $1,021,073. While sales year to date are similar to 2008 levels, there needs to be further analysis "behind the numbers" because market absorption tells us a very different story. 42% of the single family listings in Needham are under 30 days old. This skews the average days on market for the entire inventory - which is to say that the remaining 58% of single family homes on the market have each been listed for well over 6 months (thank goodness I remember algebra). This fact, coupled with the fact that the average sales price in Needham is well below the average list price for the market, should be a wake-up call to owners to price their home to sell, rather than to sit on the market - else market absorption rates are likely to continue to increase. In reviewing the inventory for the month, it is painfully apparent that many listings have not reflected "price improvements" to be competitive with neighboring communities or similar comparable properties within the borders of Needham and Needham Heights.

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 12.5 months. That is to say, based on the volume of sales during the past month, it will take just over 1 year to sell all of the single family homes currently in inventory and sitting on the Needham market.

The average list price for a single family home is $1,081,120. The lowest price is $299,000 and the highest price is $3,200,000, with the largest concentration of homes (46.0%) priced in the $900,000 to $1,499,999 price range. Of note, the average list price for a single family home in March 2008 was $1,031,299.

The median price is $1,072,200 and the average days on market are 110 days. This compares to a median list price of $769,900 and average days on market of 135 days as of March 31, 2008.

There were 31 properties that went under agreement during the month of March (March 2008- 22 properties). 8 single family homes sold during the month, with the average sales price being $683,563 and the median was $587,750, with the average days on market being 128 days. Compare this to 22 properties sold during March 2008, with an average and median sales price of $687,523 and $618,500, respectively, and the average number of days on market being 99 days.

During March 2009:

33 properties experienced price changes averaging -3.97%

Sales price to original price was 89%

Sales price to (last) adjusted price was 94%

4 property listings expired with an average days on market of 156 days

Is now the right time to sell your home? Contact WEICHERT, REALTORS®-Synergy for a complimentary Price Trend Analysis that you can use to evaluate your options.

Looking for other options? Meet with a local Weichert neighborhood specialist to discuss how our expertise can provide you with a competitive edge in selling your property. Stop chasing the market. Let the market chase you! Contact us now at http://synergy-metrowest.com/cma.htm

http://www.synergy-metrowest.com

As of March 31, 2009, there were 110 single family listings in Natick on the Multiple Listing Service (MLSPin). During March, 53 new single family listings were added to our MLSPin and an additional 3 single family homes were relisted for sale on the MLS, with an average list price of $708,815. Inventories are growing, with new home listings increasing and year-to-date sales far behind 2008 for the comparable period. With interest rates so low, it is time for buyers to get off of the fence and start looking at the opportunities out there! Meanwhile, the area of South Natick is saturated with higher-end homes that are not moving. Aggressive pricing and marketing is the only thing that will get these properties sold ahead of their competition.

Based on the number of active single family listings versus the number of sales during the month, there is a market absorption rate of 12.2 months. That is to say, based on the volume of sales during the past month, it will take just over 1 year to sell all of the single family homes currently in inventory and sitting on the Natick market.

The average list price for a single family home is $678,630. The lowest price is $214,900 and the highest price is $2,795,000, with the largest concentration of homes (46.4%) priced in the $350,000 to $599,999 price range. Of note, the average list price for a single family home in March 2008 was $629,031.

The median price is $544,900 and the average days on market are 132 days. This compares to a median list price of $459,900 and average days on market of 148 days as of March 31, 2008.

There were 16 properties that went under agreement during the month of March (March 2008- 21 properties). 9 single family homes sold during the month, with the average sales price being $465,878 and the median was $362,000, with the average days on market being 121 days. Compare this to 23 properties sold during March 2008, with an average and median sales price of $468,866 and $369,900, respectively, and the average number of days on market being 148 days.

During March 2009:

26 properties experienced price changes averaging -3.94%

Sales price to original price was 93%

Sales price to (last) adjusted price was 95%

4 property listings expired with an average days on market of 41 days