Weston CT Real Estate Market Report May 2023
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*All market data can be found at the bottom of this page
In the latest market report, we will delve into the current state of the real estate market in Weston CT. We'll analyze the latest trends and statistics, provide insight into the factors driving the market, and offer expert predictions for what lies ahead.
Whether you are a current resident, a prospective buyer or seller, or a real estate professional looking to stay up-to-date on the latest developments, this report is an essential resource. So, sit back, relax, and let's dive into the Weston data.
If you are new to my website, my name is Charlie Vinci and I am a Weston Realtor. The graphs in the "Weston CT Real Estate Market" section are updated on the first of every month. While you are here, you can create a custom market report below to get updated on the exact segment of the market that is most important to you.
You'd rather watch than read? Below is the latest market report video for Weston.
Weston Homes for Sale
First, let’s take a look at the number of homes for sale in Weston and in April of 2023, we had just 33 homes. That's slightly lower than last year when we had 46 homes. You can see this metric falling over time as we had 73 homes for sale in April of 2021, and between 126 and 172 homes for sale before COVID.
If you look closely at the graph you'll notice that in past years, there is usually a month or two after April with a surge of homes for sale. So if you're shopping for a home, I would encourage you to take advantage of the coming inventory.
If you'd like to see what is available in Weston right now, you can click here to perform a Weston Home Search.
Weston Median Days on Market
Next, let's take a look at the median number of days it took sellers to sell their home in Weston, and in April of 2023, it took 22 days. This is almost the same as last year when it took 23 days. However in 2021 it took the median seller 53 days to sell their home. Take a look at the 5 year trend to see how fast things are moving in Weston right now.
If you're a buyer in Weston you certainly need to move quickly to get the best new listings.
Weston Median Sales Price
Next let's look at the median sales price which is up to $1.29MM in Weston. This is up a bit from the past 2 years when we had $1.15MM in 2022, and $1.24MM in 2021. If you look at the 5 year trend you can see how much property values have increased in Weston since COVID.
If reading this has you wondering what your property is worth, you can get an estimate by using our Home Valuation tool.
Weston Median Percentage of List Price
Wow, I had to double check this one just to be sure, last month, the median seller earned a whopping 107.3% of their list price! Keep in mind this means that half of the sellers in Weston earned greater than or equal to 107.3%. This is the highest the median percentage of list price has climbed in Weston since the MLS has been collecting data. Take a look at the 5 year trend to see just how far this has come.
Also take note of how the percentage of list price tends to spike in the months following April. I'm curious to see if that happens again this year despite how high this percentage is already
Weston Months Supply
This is the months of the supply graph. In theory, if no new homes came on the market, we would run out of homes to sell in Weston in 2.4 months. Last year that was 2.4 months, and in 2021 it was 2.6 months.
As you can see the inventory has been limited for the past 3 years. Take a look at the 5 year trend to get the full perspective.
Weston Pending Sales
Next, we’re gonna look at the number of pending sales. Last month we had 12 sales pending. In 2022 we had 25 pending, and in 2021 we had 24 pending. Take a look at the 5 year trend.
What you'll notice is that the years preceding our COVID market, we had between 12 and 19 sales pending, so 12 pending sales this year is pretty on par compared to where we were pre-COVID.
Weston Closed Sales
Here's the number of closed sales in Weston, and in April we had 19 sales. This is the same as last year, and only slightly lower than 2021. However before COVID, closed sales usually sat between 10 and 16 in Weston.
What you'll notice by looking closely at the graph is that over the next few months there is historically a surge in sales that will typically peak in July. Those sales are typically from offers that are accepted in May or June.
You can analyze what has sold near you by using our Sold Property Search and Interactive map.
Quick Tip: Zoom in on your home for nearby sales.
If you don't have an agent, and you would like help navigating this market, call me.
I look forward to hearing from you!
Best,
203.952.7752
Weston CT Real Estate Market
Each data point represents the past 3 months of data, so you can easily examine the macro level trends of the Weston CT Real Estate Market.
*All Data comes directly from the Realtor's database, the SmartMLS, and is updated on the first of each month.
Quick Tip: Maps are interactive. Touch or Hover to use.