Hot off the presses!! Finally, we have local numbers (courtesy of Pinnacle Residential Properties) that prove just how strong the first half of 2021 shaped up to be! 
A close study of this chart of Wellesley helps us to unravel the full story of this historic market. If interested in data for surrounding towns, please email me!
Takeaways from the Wellesley Chart Comparing Sales in 2021-2020
  • Overall volume of sales was up about 17%
  • While there seems to be less homes for sale in the lower price ranges, it's actually a reflection of prices increasing
  • We saw an incredible upward push of houses into higher price ranges from $2M-$3M
  • Average days on market this year are 36 compared to 63 in 2020.
  • Median sales price jumped up 6%
Looking at the median sale price doesn't truly indicate how much prices have gone up. In order to determine that, we zoned in on houses that sold recently and then resold in 2021. These are properties without major renovations or additions, so the product is essentially the same as it was last time it sold. Here are a few samples in Wellesley:
Right now, there is a lot of hype about the market softening or stabilizing. At Pinnacle, we prefer to say that the market is "calming down" a bit, and rightfully so since on bright sunny days people are out on the beach enjoying nature, and not on their computers hunting for houses. Momentum will pick up after Labor Day with more inventory hitting the market. We are already seeing that trend with our listings!
Thinking of selling or curious how much your house has appreciated? Reach out and I am happy to help!!