Kissing 2016 goodbye was way too enjoyable. And now that 2017 is upon us, we are hoping for a strong spring market, continuing the trend of sales up 24-percent in the three months ending December 2016.
We finally have seen some movement on the upper end of the housing market. There were a few notable sales, and pending sales, near and over the $1.5 million price point. The combination of year-end bonuses, rising rates and a surplus of luxury inventory at a great value may have been the one-two punch to push those high-end buyers into action.
Wilton’s three-month sales ending December 2016 were up, the average and the median sales prices both were up 27-percent, and price-per-square-foot was up by $12. Not too shabby.
Although inventory for that same period is up by 17-percent; the months of housing supply was 11 months, the lowest it’s been since December 2015. Hopefully this will continue to decline.
Interest rates are slowly ticking up…..nothing dramatic to really force the hands of buyers, but hopefully just enough to get them to consider finally pulling the trigger.
For now, let’s focus on an early and robust spring market, which traditionally opens the week after Super Bowl.
Nearby Areas You May Be Interested In–Weston at a Glance
- Days on market in Weston is up by 107.3-percent.
- Unit sales in Weston are down 28.6-percent to 10.
- Median price in Weston in December was $800,000. This is down 19.0-percent from $987,500 in December of 2015.
Information provided by William Raveis Real Estate.
Lisa Bender is a realtor with the Wilton office of William Raveis and a regular contributor to GOOD Morning Wilton. She writes about the Wilton real estate market. She can be reached at 203.246.6986 or via email.