Wellesley, Weston, Needham Housing Sales Show A Remarkable Year

The Associated Press article written by Vinnee Tong reports that former Federal Reserve Chairman Alan Greenspan says that the worst of the housing adjustment is over and “sales figures have stabilized”.  However the combined year to date residential sales for the communities of Wellesley, Weston and Needham show a remarkable healthy year in the face of the country wide slow down referred to by Mr. Greenspan. 

Comparing the year to date numbers of our tri-community area shows that the median price was down from $849,900 to $820,00. However average prices were up slightly from $1,216,236 to $1,219,333 and total sales increased from $959,610,643 to $979,125,077. These figures demonstrate the relative health of our local communities and why these communities are so sought after by home buyers. Even in difficult times Wellesley, Weston and Needham real estate tend to hold their value even as neighboring communities falter. They are not only great places to live, but also tend to be the best investments.

Clearly our local results are far different than the results experienced nationally or even state wide. Each community and even neighborhoods within these communities show statistically varying performance and need to be analyzed on a micro level.  This data for each town will be reported under the town sections of Talk Of Our Towns - watch for this information in the coming days.

If you have questions or comments, please contact me.

Vincent Spoto

Co-founder of Pinnacle Residential Properties

 Member of:

         National Association of Realtors,

         Massachusetts Association of Realtors,

         Senior Real Estate Specialist,

         Wellesley Chamber of Commerce,

         Board of Directors - Better Business Bureau  

Cell: 781-771-0340

 Office: 781-237-5000

 Email: vspoto@pinnaclehouses.com

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