During 2014, real estate activity in Wellesley saw decreases in total volume and average sales price.
There was a 28% decrease in documents recorded at the Norfolk County Registry of Deeds for Wellesley in 2014, resulting in a reduction of 2,101 documents from 7,577 to 5,476.
The total volume of real estate sales in Wellesley during 2014 was $653,225,318 which showed a 43% decrease from 2013. The average sale price of homes and commercial property was down 47% in Wellesley. The average sale was $1,349,639. The primary reason for the decrease in total volume and average sales price in 2014 was the sale of Wellesley Office Park for $237 million that took place on December 13, 2013.
The number of mortgages recorded (1,215) on Wellesley properties in 2014 was down by 34% from the previous year. Total mortgage indebtedness also decreased by 32% to $764,797,498. during the same period.
There was 1 foreclosure deed filed in Wellesley during 2014, representing a 0% increase from the previous year when there was also 1 foreclosure deed filed.
Finally, homestead activity decreased 7% in Wellesley during 2014 with 534 homesteads filed compared to 573 in 2013.