What is happening to the luxury market in Weston and Wellesley? The numbers tell the story right now. When referencing the high end of our housing inventory, this refers to homes priced at $5M and up.
Luxury Homes for Sale (Per MLS, this number is actually greater with off-market offerings):
- Weston: 16 (38% of all homes for sale in Weston)
- Wellesley: 13 (25% of all homes for sale in Wellesley)
The average number of days these properties have been for sale is 96 so far. However, the actual number is higher since many of these homes were on the market last year, but rested over the holidays and came back on MLS as new even though they were available in 2024.
In the Last 12 Months:
- Properties Sold North of $5M in Weston and Wellesley: 18
- Number of Days Until They Received an Offer: 144
A bulk of the lucky owners (11) who did sell ended up getting in the range of $5-$6M (9), with the remainder fetching north of that.
The takeaway at this point is that we currently have more than a 1.5 year supply of homes in our area that need to sell in the luxury sphere per MLS.
As of this week two properties lowered their prices- one very minimally and one by 5%.
