In looking at the Zillow Zestimate statistics for Weston I was surprised to see the home value index (which is a kind of median price estimate) is up 2.5% month to month, 6.9% quarter to quarter, and 2.9% year over year. It seems like according to Zillow, the Weston market is past the bottom and starting to rise in value.
The numbers from The Warren Group (which only looks at properties that have sold, not at overall valuation) tell a different story — for June of 2008, the median sale price in Weston was 1,150,000, but in June 2009 the median was only $944,300, a decline of 17.89% year over year; however, these numbers can easily be skewed by the fact that there has been a lot of activity at the low end of the market; the median sales price drop may only indicate that the lower end of the market has been moving faster, not that valuations have declined overall.
The Zestimate is Zillow’s proprietary home valuation algorithm; typically, this algorithm has not been particularly accurate at establishing market values for Weston homes (it usually comes in very low).
You can check out the Zillow statistics at the following URL:
426 Boston Post Rd.