Real Estate Trends – Hudson, Massachusetts (Condos)

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 Condo market in Hudson, MA in Middlesex County

 Hudson MA Town Seal - Hudson Massachusetts Real Estate

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

The Hudson, MA condo market has fallen off since last year.   The average prices were down some and the median prices were down quite a bit more.  The days on market were down by some though.  Inventory was down slightly going from 15 sales in December of 2014 to 12 in December 2015. 

Average Listing Prices:

We will first start off by looking at the average listing price.  For condos in Hudson, MA the average listing price in December 2014 was $362,900.  This was down to $337,333 in December 2015.  This gives a decrease of 7.05% year over year. 

Looking at the median prices we see that they were both lower than the averages with the gap much bigger in 2015.  For December of 2014 the median listing price for Hudson, MA condos was $359,000 and in December 2015 it was $285,900 which now gives a much bigger decrease of 20.36%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for a condo in Hudson, MA in December of 2014 was $355,497 and in December 2015 that was down to $342,868.  That gives a relatively small 3.55% decrease.

We see a fairly similar pattern with the median sale prices as we did for the listing prices for 2015 but for 2014 it is a bit higher.  For December of 2014 the median sales price for Hudson, MA condos was $369,500 and in December 2015 it was $288,555 giving another larger decrease of 21.91%. 

This month prices are down for condos in Hudson, MA compared to last year.  There is a pretty large gap between the dips we see with the averages and what it is looking at the medians.  Since medians are generally preferred over averages we are going to give most of the weight to those.  Looking at those and giving the most weight to the median sale price, since sales are far more important than listing prices, we therefore would conclude that prices seem to be down a little over 20% for Hudson, MA condos in December.

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 condos in Hudson, MA the average days on market in December of 2014 were 81.53 and the average days on market for December 2015 were 60.33 for a good sized 26.0% decrease. 

Hudson, Mass Summary:

The Hudson, Massachusetts condo real estate market is down a bit since last year.  The average prices were down some, however the median prices were down substantially more.  The days on market are down a decent amount, but while a drop is very good for someone trying to sell it does not make up for such large drops in the median prices.

In summary if you are looking to sell a condo in Hudson, MA now you should expect to get less for it than you would have gotten last year.  However you can also expect it to take less time to sell compared to last year as well. 

 

Do you need to sell your Hudson, Massachusetts condo 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: Hudson MA Seal via Wikipedia)

 

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