Summer weather and low inventory

Inventory remains at an all time low. For buyers with the means to buy a home, high mortgage rates are not keeping them from buying. But, rates are keeping sellers from listing their homes. 

Inventory is down dramatically year over year. Wellesley is down 28%, Weston 44%, Needham 17%, and Natick 45%. Last week, more properties sold than came to market. 

Listing Inventory as of 7/14/23: Wellesley: 32, Weston: 26, Needham: 34

In Wellesley, 71% of the inventory is over $2M, and 52% is over $3M; in Weston 96% is over $3M; and Needham now has 82% over $2M. 

Demand for high end homes remains. We just closed 29 Webster in Weston for $8.8M.