Weston, CT January 2025 Real Estate Market Report: Insights & Forecast
Assembled by: Judy Michaelis, 203-247-5000
Market Trends Report
Overview
The overview below shows real estate activity from January 2024 to December 2024. You will see data comparisons between December and the previous month, the last three months and December 2023.
| Overview | YTD Avg. | December | November | Sep. – Nov. | Dec. 2023 |
|---|---|---|---|---|---|
| New Listings | 180 | 3 | 7 | 13 | 5 |
| Average Sales Price per Square Foot | 350 | 317 | 402 | 389 | 319 |
| Average Days on Market | 51 | 40 | 74 | 53 | 40 |
| Number of Properties for Sale | 412 | 12 | 24 | 32 | 32 |
| Average List Price | $1,676,186 | $1,618,075 | $1,467,829 | $1,471,509 | $2,000,837 |
| Median List Price | $1,477,246 | $1,394,500 | $1,162,000 | $1,252,000 | $1,697,500 |
| Average Sales Price | $1,448,406 | $1,161,682 | $1,404,455 | $1,635,042 | $1,202,327 |
| Median Sales Price | $1,328,482 | $1,150,000 | $1,250,000 | $1,393,345 | $1,110,000 |
| Sales Price / List Price Ratio | 103.59% | 103.2% | 102.08% | 102.43% | 104.17% |
| Number of Properties Sold | 134 | 11 | 11 | 10 | 11 |
| Month’s Supply of Inventory | 4.24 | 1.09 | 2.18 | 3.23 | 2.91 |
| Absorption Rate | 0.36 | 0.92 | 0.46 | 0.33 | 0.34 |
Average & Median Sales Price
The median sales price in December 2024 was $1,150,000, down -8.00% from $1,250,000 from the previous month and 3.60% higher than $1,110,000 from December 2023. The December 2024 median sales price was at a mid level compared to December 2023 and 2022.
The average sales price in December 2024 was $1,161,682, down -17.29% from $1,404,455 from the previous month and -3.38% lower than $1,202,327 from December 2023. The December 2024 average sale price was at its lowest level compared to December 2023 and 2022.
Sales Price / List Price Ratio
The sales price/list price ratio is the average sale price divided by the average list price for sold properties expressed as a percentage. If it is above 100%, homes are selling for more than the list price. If it is less than 100%, homes are selling for less than the list price.
The December 2024 sales price/list price ratio was 103.2%, up from 102.08% from the previous month and equal to December 2023.
Number of Properties Sold & Absorption Rate
The number of properties sold in December 2024 was 11, equal to the previous month and equal to December 2023. The December 2024 sales were at a mid level compared to December 2023 and 2022.
Absorption rate is the avg number of sales per month divided by the total number of available properties.
Average Days on Market
The average days on market (DOM) is the number of days a property is on the market before it sells. An upward trend in DOM tends to indicate a move towards a buyer’s market, a downward trend tends to indicate a move towards seller’s market.
The DOM for December 2024 was 40 days, down -45.95% from 74 days from the previous month and equal to December 2023. The December 2024 DOM was at its lowest level compared with December 2023 and 2022.
Average Sales Price per Square Foot
The average sales price per square foot is a more normalized indicator for the direction of property value. The sales price per square foot in December 2024 was $317, down -21.14% from $402 from the previous month and equal to December 2023.
Inventory & MSI
The number of properties for sale in December 2024 was 12, down -50.0% from 24 from the previous month and -62.50% lower than 32 from December 2023. The December 2024 inventory was at its lowest level compared with December 2023 and 2022.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The December 2024 MSI of 1.09 months was at its lowest level compared with December 2023 and 2022.
New Listings
The number of new listings in December 2024 was 3, down -57.14% from 7 from the previous month and -40.0% lower than 5 from December 2023. The December 2024 listings were at its lowest level compared to December 2023 and 2022.
Judy Michaelis
Prefer the quick version? Here's a snapshot of the December 2024 Weston Market Update:
🏠 Median sales price is $1.15M – Down 8% from last month, up 3.6% from last year. Average sales price is $1.16M – Down 17.3% from last month, down 3.4% from last year.
⏰ Homes are selling faster – Average days on market is 40, down from 74 last month and equal to last year.
📈 Inventory remains tight – 12 homes for sale, down 50% from last month and 62.5% from last year. MSI is 1.09 months, the lowest in 3 years.
What Buyers and Sellers Need to Know
📊 Sales activity held steady – 11 homes sold, same as last month and last year.
✨ Sellers: Homes sold at 103.2% of list price, slightly up from last month and equal to last year.
🔍 Buyers: Price per square foot is $317, down 21% from last month and equal to last year. Only 3 new listings – the lowest in recent Decembers.
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