Real Estate Trends – Stow, 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 Stow, MA in Middlesex County

 

Market Trends in Stow, MA – June 2015 and 2016:

The Stow, MA market has fallen off since last year.   The average prices were down and the median prices were down quite a bit more.  The days on market were up a bit as well.  Inventory was up some with 9 sales in June of 2015 up to 12 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Stow, MA the average listing price in June 2015 was $616,663.  This was down to $501,033 in June 2016.  This gives a very large decrease of 18.75% year over year. 

Looking at the median prices we see that it was lower in 2016 but a bit higher in 2015.  For June of 2015 the median listing price for Stow, MA was $639,900 and in June 2016 it was $449,950 which now gives an even more massive decrease of 29.68%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Stow, MA in June of 2015 was $606,089 and in June 2016 that was down to $492,533.  That gives another large decrease of 18.74%, and almost identical to that of the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Stow, MA was $625,000 and in June 2016 it was $459,950 giving a decrease of 26.41%, again giving a substantially larger drop than seen with the average prices.

Prices have gone down significantly for Stow, MA this month.  The overall range was quite large going from roughly 19-30%.  The averages were almost identical at about 18.75% down.  The medians are usually the method of choice for real estate and those were much larger drops showing drops in the high 20s.  Since sales are far more important the best guess decrease is probably just north of 26% and not quite as high as the roughly 30% seen with the highest metric.

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 Stow, MA the average days on market in June of 2015 were 28.00 and the average days on market for June 2016 were 43.92 giving a fairly large 56.86% increase.

Stow, Massachusetts Summary:

The Stow, Massachusetts real estate market is way down since last year.  The average prices were down a lot and the median sale prices were down significantly more.  The days on market were up a good amount as well which gives some additional support to a down market.

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

 

Do you need to sell your Stow, 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: Stow MA Seal via Wikipedia)

 

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