Real Estate Trends – Bristol County, Massachusetts

Introduction:

In this latest market trend report we are looking more regionally with our first “County Report” for the  Massachusetts real estate market in a while.  The advantage of doing this is that instead of looking at just a handful of properties we can analyze dozens, and in this case hundreds.  Those of you that are familiar with statistics you know that more data points the better the analysis you can do.

In this case we will be looking at the single family sales in Bristol County.  While there are many active towns in the county there are several that have so few sales that it is hard to analyze them, and with many others that barely have enough to.  While real estate is very local getting a feel for how a larger region is doing can give a general pulse of the market, ever if any given municipality might be different from these trends.

Bristol County  is made of the Cities of Attleboro, Fall River, New Bedford and Taunton and the towns of AcushnetBerkley, Dartmouth, Dighton, EastonFairhaven, FreetownMansfieldNorth Attleborough, NortonRaynham, Rehoboth, Seekonk, Somerset, Swansea and Westport..

 Bristol County Map - Bristol County MA Real Estate

Market Trends in Bristol County, MA – February 2015 and 2016:

The Bristol County, MA market has declined a bit since last year.  The average listing prices are down and average sales prices were down by a bit as well.  However the days on market did also decrease some year over year.  Inventory was up a good amount with 194 sales in February of 2015 and 247 sales in February 2016. 

Average Listing Prices:

First let’s look at the average listing price.  For Bristol County, MA in February 2015 the average list price was $314,002.  This was down a bit to $289,838 in February 2016.  That gives a fairly sizable decrease of 7.70%. 

Average Sale Prices:

The next item to examine is the average sale prices.  The average sale price for Bristol County, MA in February of 2015 was $301,204 and in February 2016 that was down some to $278,544.  That results in a very slightly smaller decrease of 7.52%. 

Average Days on Market:

Finally we will take a look at the average days on market, a measure of how long it takes for a house to sell in the market.  For Bristol County, MA the average days on market in February of 2015 was 136.58 and the average days on market for February 2016 were 122.87.  This gives us a very modest 10.04% decrease.

Bristol County, Mass Summary:

The Bristol County, Massachusetts market looks like is has declined since last year.  The decent decreases in both listing prices and sale prices support this.  The decrease in the days on market is still encouraging, but not as big of a factor as the price drops.   

In summary if you are looking to sell a house in Bristol County, MA now you should expect to get less for it than you would have last year.  However you should also expect to be able to sell it a little bit faster than you would have last year, if you are priced correctly of course.    

  

Do you need to sell your Bristol County, 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: Bristol County Map via Worcestermass.com)

 

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