November 2022 Market Study:
Sales Drop 11.5% vs. Prior Year for Single Family Homes in Prime MetroWest Luxury Markets
The number of sold single family homes declined from 87 to 77 units (11.5%) for the month of November 2022 versus the same month last year (Brookline, Newton, Wellesley, and Weston, collectively). November 2022 marks the first month of data where the preponderance of solds were from accepted offers after Labor Day when the market seems to have started to shift.
Other highlights for single family homes in November 2022 include:
Brookline
* Days on market decreased 51.0% from 104 days to 51 days
* Average list price per s.f. increased 24.4% from $702.84 to $874.20
Newton
* Listings on market increased 35.6% from 45 to 61 units
* Days on market increased 36.2% from 58 to 79 days
Wellesley
* Days on market increased 22.7% from 75 to 92 days
* Listing inventory increased 51.5% from 0.66 to 1.00 months
Weston
* Listings on market increased 100.0% from 18 to 36 units
* Listing inventory increased 172.5% from 1.20 to 3.27 months
The raw data by city/town is provided below:
Source: MLS Property Information Network Inc. All data is for single family homes.
©2022 The MBA Agent | 1340 Centre Street, Suite 202, Newton, MA 02459 | 617-216-4000
