Real Estate Trends – Hull, Massachusetts

Introduction:

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

Today we are highlighting the market in Hull, MA in Plymouth County

Aerial Photo of Hull MA - Hull Massachusetts Real Estate

Market Trends in Hull, MA – December 2014 and 2015:

The Hull, MA market has fallen off tremendously since last year.   The average prices were both down a lot while the median prices were down significantly as well.  The days on market were also up quite a bit too.  Inventory was pretty stable only going down from 10 sales in December of 2014 to 9 in December 2015. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Hull, MA the average listing price in December 2014 was $568,930.  This was down to $318,522 in December 2015.  This gives a massive decrease of 44.01% year over year. 

Looking at the median prices we see that they were a bit higher in both years.  For December of 2014 the median listing price for Hull, MA was $577,000 and in December 2015 it was $325,000 which gives an almost exact same decrease of 43.67%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Hull, MA in December of 2014 was $547,150 and in December 2015 that was down to $303,767.  That gives a larger 44.48% decrease compared to the average list price. 

We see the same pattern with the median sale prices as we did for the listing prices with 2015 but for 2014 it was just a little lower.  For December of 2014 the median sales price for Hull, MA was $550,000 and in December 2015 it was $299,900 giving another huge decrease of 45.47%. 

No matter how you look at it prices are down massively year over year for Hull, MA in December.  The range was very tight so not too much analysis here.  The rage was only just over 43.5% to just under 45.5% so not a lot of variance and the difference between being down 43% and 45% is fairly inconsequential.  Since the sale prices were down on the higher side and the median sale price, which is generally considered the most important, was down the most we would conclude that prices are probably down closer to the top of the small range though.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Hull, MA the average days on market in December of 2014 were 99.30 and the average days on market for December 2015 were 130.22 for a pretty big 31.14% increase. 

Hull, Mass Summary:

The Hull, Massachusetts real estate market is down tremendously since last year.  The average prices were way down and median prices were down just as much.  The days on market are up a very sizeable amount as well.

In summary if you are looking to sell a house in Hull, MA now you should expect to get a lot less for it than you would have gotten last year.  You should also expect it to take just a much longer time to sell compared to last year as well. 

 

Do you need to sell your Hull, 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: Hull Massachusetts aerial view photo via Wikipedia)

 

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