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

 Town Seal of Ayer MA - Ayer Massachusetts Real Estate

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

The Ayer, MA market has fallen off substantially since last year.   The average prices were down significantly and the median prices were down quite a bit more.  The days on market were down significantly though.  Inventory was down a lot getting cut in half with 16 sales in June of 2015 down to 8 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Ayer, MA the average listing price in June 2015 was $360,319.  This was down to $297,825 in June 2016.  This gives a very large decrease of 17.34% year over year. 

Looking at the median prices we see that it was higher in 2015 and lower in 2016.  For June of 2015 the median listing price for Ayer, MA was $392,900 and in June 2016 it was $254,950 which now gives a much larger decrease of 35.11%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Ayer, MA in June of 2015 was $358,538 and in June 2016 that was down to $301,375.  That gives another very sizeable decrease of 15.94%, not quite as high as 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 Ayer, MA was $395,400 and in June 2016 it was $267,500 giving another humongous decrease of 32.35%.

Prices have gone down significantly for Ayer, MA in June.  The range for all four metrics was very large going from roughly 16-35%.  The averages were a bit lower than the medians with drops of “only” 16-17.5%.  Medians are the favored method of evaluating real estate pricing.  Those were down substantially more than the averages going from about 32-35%.  This is the more likely range of the price drops this month.  Since sales are far more important than listing prices the minor silver lining is that best guess would have prices down at the bottom of the range at a little over 32%.

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 Ayer, MA the average days on market in June of 2015 were 109.13 and the average days on market for June 2016 were 58.50 giving a large 46.39% decrease.

Ayer, Massachusetts Summary:

The Ayer, Massachusetts real estate market is down a lot since last year.  The average prices were down significantly and the median prices were down substantially more so.  The days on market were actually down a lot which is a counter argument to the down market.  However the days on market are pretty volatile and even with a big drop the huge price drops more than negate this.

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

 

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

 

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