Real Estate Trends – Easton, Massachusetts #3

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 Easton, MA in Bristol County

 Ames Memorial Hall and Library Easton MA - Easton Massachusetts Real Estate

Market Trends in Easton, MA – May 2015 and 2016:

The Easton, MA market has fallen off a bit since last year.   The average prices are down and the median prices were down as well.  The days on market were down a lot though.  Inventory was up a very large amount with 12 sales in May of 2015 all the way up to 27 in May 2016, more than doubling. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Easton, MA the average listing price in May 2015 was $464,008.  This was down to $389,393 in May 2016.  This gives a huge decrease of 20.50% year over year. 

Looking at the median prices we see that they were lower in both years.  For May of 2015 the median listing price for Easton, MA was $394,900 and in May 2016 it was $350,000 which now gives a smaller decrease of 11.37%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Easton, MA in May of 2015 was $447,254 and in May 2016 that was down to $383,606.  That gives another sizable decrease of 14.23%, but a bit smaller than the average list price. 

We see the same pattern that we did for the median list price.  For May of 2015 the median sales price for Easton, MA was $394,950 and in May 2016 it was $350,000 giving another large decrease of 11.38%, and almost exactly the same as the median list price. 

Prices are definitely down for Easton, MA in May.  The range was fairly large going from about 11.5-20.5%.  The average list price is far and away the biggest drop and is also considered the least useful one of the 4 metrics we look at, therefore we will pretty much disregard it.  Overall the medians are the more favored method so with both of those coming in right under 11.4% that is probably right around the actual drop though I would say it could skew a touch higher with the slightly higher average sale price number, but probably not as much as the more than 14% drop seen there.

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 Easton, MA the average days on market in May of 2015 were 124.00 and the average days on market for May 2016 were 74.52 for a good sized 39.90% decrease.

Easton, Massachusetts Summary:

The Easton, Massachusetts real estate market is down a bit since last year.  The average prices were down while the median prices were down almost as much.  The days on market were down a bit however.  While a nice piece of information for sellers the price drops out weigh this in our conclusion that the market has gone down.

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

 

Do you need to sell your Easton, 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: Ames Memorial Hall and Library – North Easton MA by Daderot via Wikipedia)

 

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