Single Family Homes Wellesley

As of March 2023, Realtor.com shows 26 open listings for single–family homes in Wellesley. This includes new construction and existing homes with previous ownership and occupancy. Prices start in the low $700s for a 700 sq. ft. home on a 4K+ sq. ft. lot and go up to just under $6.7M for a 9200+ sq. ft. home on a ¾ acre. The cheaper one was built in 1940. The more expensive one is a new construction.

Even more interesting is the new construction has already had a significant price drop. This is common when a specific type of housing unexpectedly hits the market and demand suddenly disappears. This coincides with Rockethomes.com’s assessment of Wellesley as a buyer’s market as of February 2023. Compared with one year earlier, when it was a seller’s market, there was significantly less supply and more demand.

So, what does this mean for you? If you’re a seller, make sure your agent is prepared to market your home as far and wide as necessary to find the right buyer. A good agent wants as many qualified prospects as possible, so they compete for it. If you’re a buyer, you have less competition and more inventory. Finally, if you’re an investor, this is an exciting time.

Anyone looking for a fix-and-flip would likely not be ready to buy. However, niche.com says as many as 17% of Wellesley residents rent. Given their high score for Wellesley as a place to live, work, raise a family, and retire, this could be a unique opportunity to buy a rental property. Whatever the case, allow me to offer my insights as a local professional.

Market conditions: https://www.rockethomes.com/real-estate-trends/ma/wellesley

• Get professional insight on buying, selling, and investing in single-family homes in Wellesley.