Real Estate Trends – Easton, Massachusetts #4

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

 North Easton MA in 1891 - Easton Massachusetts Real Estate

We have looked at Easton several times in the past, most recently just this past June.   

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

The Easton, MA market has fallen off some since last year.   The average prices were down and the median prices were down a bit more.  The days on market were up some as well.  Inventory was pretty stable with 27 sales in July of 2015 down to 25 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Easton, MA the average listing price in July 2015 was $461,581.  This was down to $445,753 in July 2016.  This gives a small decrease of 3.43% year over year. 

Looking at the median prices we see that it was higher in 2015 and lower in 2016.  For July of 2015 the median listing price for Easton, MA was $479,900 and in July 2016 it was $400,000 which now gives a much larger decrease of 16.65%.

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 July of 2015 was $456,024 and in July 2016 that was down to $450,706.  That gives another small decrease of 1.17%, though a bit lower 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 Easton, MA was $465,000 and in July 2016 it was $410,000 giving another much smaller decrease of 11.83%.

Prices are down for Easton, MA this month.  The range for all four metrics was pretty large going from about 1-16.5%.  The averages were much lower than the medians at only about 1-3.5%.  The medians were much higher at about 12-16.5%.  Medians are the preferred real estate pricing analysis method so it is reasonable to go with that higher range.  That range is not that big but since sales are far more important than just listing prices and the median sale price was the lower end of the range, therefore the best guess is that prices are down at the lower end of the range at just under 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 Easton, MA the average days on market in July of 2015 were 64.26 and the average days on market for July 2016 were 87.56 giving a fairly sizable 36.26% increase.

Easton, Massachusetts Summary:

The Easton, Massachusetts real estate market is down some since last year.  The average prices were down a very small amount however the median prices were down a much larger amount.  The days on market were up a good bit as well, further supporting some decline in the market.

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.  You can also expect it to take more 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: North Easton MA in 1891 via Wikipedia)

 

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