Real Estate Trends – Ashland, Massachusetts #2

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 Ashland, MA in Middlesex County

Stone's Public House in Ashland MA - Ashland Massachusetts Real Estate  

As mentioned when we did our first article on Ashland back in April of 2015 that Ashland is a special place for Shaun as it is where he got married.  In that article the featured image was of the Warren Center where the ceremony was and today’s is of Stone’s Public House where the rehearsal dinner was held.

Market Trends in Ashland, MA – July 2015 and 2016:

The Ashland, MA market has fallen off since last year.   The average prices were down some and the median prices were down even.  The days on market were down some.  Inventory was down some with 18 sales in July of 2015 down to 12 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Ashland, MA the average listing price in July 2015 was $451,494.  This was down to $432,167 in July 2016.  This gives a modest decrease of 4.28% year over year. 

Looking at the median prices we see that it was marginally higher in 2015 but lower in 2016.  For July of 2015 the median listing price for Ashland, MA was $454,900 and in July 2016 it was $384,949.50 which now gives a much larger decrease of 15.38%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Ashland, MA in July of 2015 was $456,450 and in July 2016 that was down to $430,450.  That gives another modest decrease of 5.70%, a little higher than the average list price. 

We see the same pattern as we did for the median list price.  For July of 2015 the median sales price for Ashland, MA was $459,250 and in July 2016 it was $405,000 giving another much smaller decrease of 11.81%.

Prices are down some for Ashland, MA this month.  The range for all four metrics was pretty large going from a little over 4-15%.  The averages were much lower than the medians at only about 4-6%.  The medians were much higher at about 12-15%.  Medians are the preferred real estate pricing analysis method so it is reasonable to go with that higher range.  However since sales are much more important than listing prices we would say that prices will be down at the lower end of the range at just a little less than 12%.

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 Ashland, MA the average days on market in July of 2015 were 38.72 and the average days on market for July 2016 were 28.58 giving a modest 26.19% decrease.

Ashland, Massachusetts Summary:

The Ashland, Massachusetts real estate market is down some since last year.  The average prices were down and the median prices were down a much larger amount.  The days on market were down a little bit though.

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

 

Do you need to sell your Ashland, 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: Stone’s Public House in Ashland MA via Wikipedia)

 

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