Yearly Outlook: Why 2020 is a Landmark Year for Wellesley Real Estate

Yearly Outlook: Why 2020 is a Landmark Year for Wellesley Real Estate

As we look at the Wellesley yearly outlook, 2020 has defied all early predictions. Despite global uncertainty, the local market has seen a record-breaking summer and an even more active fall.

Inventory vs. Demand

Inventory in Wellesley is at a five-year low. Families are migrating from the city faster than homes can be listed. This has created a permanent seller's market for properties under $2M.

Trends to Watch

• Home Offices: The 'his and hers' office trend is no longer a luxury-it's a requirement.
• Pools & Outdoor Living: Landscaped yards with irrigation and fire pits are fetching 10-15% premiums.

The 2021 Prediction

We expect this momentum to carry into 2021. Interest rates remain the primary driver, making expensive homes more affordable on a monthly payment basis.