Real Estate Trends – Ashland, Massachusetts

Introduction:

Welcome to our latest real estate market trend report.  If you are reading one of these reports for the first time, what we do is examine real estate market in a municipality in Massachusetts or New Hampshire to evaluate its current conditions.  We do this by looking at the changes in several key metrics year over year for the town to see how the market has changed and then evaluate what those observations mean for that market moving forward.

Today we are highlighting Ashland, MA in Middlesex County.

Ashland has a special place in my heart as I got married at the Warren Center pictured above.

Market Trends in Ashland, MA – March 2014 and 2015:

The Ashland, MA market has fallen off a bit since last year.  Both the average listing and average sales prices were down a pretty large amount, while the days on market were up some.  Inventory was more or less stable with 7 sales in March of 2014 and 6 in 2015.

Average Listing Prices:

The first thing we are going to look at is the average listing price.  For Ashland, MA the average listing price in March 2014 was $381,600.  This was down a bit to $326,450 in March 2015, giving a very sizeable decline of 14.45%.  This is a big drop, though with so few sales the numbers will be less stable.

Average Sale Prices:

As always the next thing we are going to be looking at is the average sale prices.  The average sale price for Ashland, MA in March of 2014 was $375,029 and in March 2015 that was down to $317,483.  That gives a slightly larger decrease of 15.34%.

Average Days on Market:

The final thing that we will look at is the average days on market, which is a measure of how long it takes for a house to sell in the current market.  For Ashland, MA the average days on market in March of 2014 were 53.86 and the average days on market for March 2015 were 65.67, for a noticeable 21.93% increase.

Since we have seen so many instances where a single data point in one, or both, years can skew the data I want to point out that is not the case for Ashland, MA for either year we looked at.  The data for 2014 had one borderline point but in the end it was not that high relative to the other ones, unlike many of the other places we have seen with point several times bigger than the next highest.

Ashland, Mass Summary:

The Ashland, Massachusetts real estate market has gone down a bit since last year.  The sizable drop in listing prices along with the even larger drop in sale prices support this, as does the increase in the days on market.

In summary if you are looking to sell a house in Ashland, MA now you should expect to get a fair bit less for it than you would have last year.  You also should still consider taking a discount to sell it faster as the days on market are up a bit too.

 

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

 

Please share your questions and comments below.

 

 

 

(Image credit: Warren Conference Center and Inn via warrencenter.com)

 

 

 

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