Real Estate Trends – Acton, Massachusetts

Introduction:

Thanks for checking back in for our latest real estate market trend report.  If this is your first time reading one of these in these reports, what we do is we examine a town in Massachusetts or New Hampshire and its current real estate market trends.  What we do is look at the municipality’s year over year change in the real estate market and talk about those observations and what they will mean moving forward.

Today we are highlighting Acton, MA in Middlesex County.

Discovery Museum - Acton MA Real Estate

Market Trends in Acton, MA – January 2014 and 2015:

The Acton, MA market is down somewhat since last year.  Both the listing and sales prices are down a bit.  The days on market though were pretty stable, at least on the surface.  Inventory was fairly consistent with 10 sales in January of 2014 and 11 sales in 2015.

Average Listing Prices:

The first thing we will take a look at is the average listing price.  For Acton, MA in January 2014 the average list price was $648,946.  This decreased down to $597,609 in January 2015.  This gives a noticeable decrease of 7.91%.

Average Sale Prices:

The next metric we will look at is average sale prices.  For January of 2014 the average sale price for Acton, MA was $632,589 and by January 2015 that was down to $595,651.  That would be a smaller decrease of 5.84%.  This isn’t a huge gap between listed and sale price but does show that the local agents are recognizing that things are going down and are getting places priced right.

Average Days on Market:

The final thing we will take a look at are the days on market, which is a measure of how long it is takes for a house to sell in the market.  For Acton, MA the average days on market in January of 2014 was 120.4 and the average days on market for January 2015 were 119.82, for a meaningless 0.48% decrease. However, as we have seen in several of our previous posts for the municipalities of AbingtonBedford, Seekonk, BelmontTopsfield, Canton,  Dracut (Condos)HamiltonWakefield, Amesbury (Condos), Dracut #2, Taunton , Reading, Stoughton , Wrentham, Stoneham, Dedham, Nashua, NH , Tewksbury and Brockton (Multifamily), and Lowell (Multifamily)an outlier can really skew the data.  Once again that is the case for Acton, MA.  In this instance it is the newer 2015 data that is skewed.  We will see that this actually makes the decrease we see much more important. In 2015 there was one place that was high at 598 days.  That was more than the next 5 highest combined and more than 45% of the total days on market for all the houses sold that month!  While sometimes we might eliminate a point that would not qualify by stringent statistical analysis this one is about as obvious as you can get. When we remove this point the other 10 houses were left with an average of 72.0.  Using this instead we see that they decreased by 40.2%.  Once adjusting that data we see that instead of the days on market being the same they are actually down quite a bit.

Acton, Mass Summary:

The Acton, Massachusetts real estate market has slowed down some since last year.  This is seen with the declines in both listed and sale prices.  Though unexpectedly this was accompanied by a good size decrease in the days on market, which is not what you would usually expect.  That does give a little comfort to house sellers this year.  While prices are down a little, if they price their property correctly they are selling faster than last year. In summary if you are looking to sell a house in Acton, MA now you should expect to get less for it than you would have last year.  However you should not need to take a large discount off of your initial price to avoid sitting on it for a long time.  If you have it priced correctly things are still moving and faster than before, just at lower prices.

 

Do you need to sell your Acton, Massachusetts house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

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(Image credit: Discovery Children’s Museum by John Phelan via Wikipedia)    

 

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