This has been an extreme year for real estate in Weston with a record number of foreclosures and/or short sales making their way into the marketplace such as: 269, 277, 479 and 505 North Ave, 18 Pine St., 58 Apple Crest Rd., 11 Bayberry Ln. 173 Conant Rd., 375 Highland St., 33 Skating Pond Rd., 300 Glen Rd. and others.

Turmoil in the nationwide real estate market can be seen in the values of spec-built homes over $5 million; for a case in point, take 300 Glen Rd. It was originally listed for $5,999,000 and reduced to $4,995,000 when it sold to FNBI Realty LLC after being on the market 655 days for $3,549,000 on 11/13/09 and then immediately put back on the market for $3,995,000 where it remains currently available. 30 Old Rd. went off the market 9/21/09 after being listed for up to $6,350,000 for 955 days. We saw discounting at 18 Walnut Rd. originally listed for $4,795,000, and sold for $3,350,000, after 587 days, and 281 Country Dr. originally listed for $4,950,000 and sold for$3,775,000 after 528 days, and yet an off market purchase on 75 Cart Path for $3.7, 33 Skating Pond for $4,725,000, and a number of other off market pendings over $4,000,000 continue to show a market resilience and strength that is unique to Weston.

As of Jan. 4 there are 57 Single Family properties listed for sale in Weston with a record number of properties listed above $7 million, having recently come on the market and/or currently listed off market ie. 22 Pelham Rd. for $7,175,000, 15 Dogwood Rd. for $10,000,000, 85 Chestnut St. for $8,475,000, 75 Doublet Hill Rd. for about $20 million, and 5 Willow Rd. the most expensive for $24,500,000. Clearly this is a new market in Weston with the very high end attracting buyers from all over the world.

I expect a better 2010 spring market than 2009 fueled by attractive interest rates that are unlikely to last at current historic low levels, movement under $800,000 due to the federal home buyer credit program, and more buyers moving into Weston in the under $2.5 million market because improved statewide and nationwide market conditions allow them to sell elsewhere and relocate. There has also been some downward pressure where buyers who may have been looking in the $3 million+ range are now looking in the under $2.5 million range.