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

 Acton MA Town Seal - Acton Massachusetts Real Estate

We have looked at Acton a couple times in the past but not since May of 2015 so it has been awhile!

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

The Acton, MA market has fallen off some since last year.   The average prices were down somewhat and the median prices were down more so.  The days on market were up some a little bit as well.  Inventory was pretty stable with 35 sales in July of 2015 up to 37 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Acton, MA the average listing price in July 2015 was $668,921.  This was down to $664,632 in July 2016.  This gives a trivial decrease of 0.64% year over year. 

Looking at the median prices we see that it was lower in both years.  For July of 2015 the median listing price for Acton, MA was $665,655 and in July 2016 it was $600,000 which now gives a much larger decrease of 9.86%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Acton, MA in July of 2015 was $671,804 and in July 2016 that was down to $658,238.  That gives another small decrease of 2.02%, though a bit higher than the average list price. 

We see a different pattern as we did for the median list price.  In this case it was still lower in 2016 but now is higher in 2015.  For July of 2015 the median sales price for Acton, MA was $678,000 and in July 2016 it was $605,000 giving another much smaller decrease of 10.77%.

Prices are down for Acton, MA this month.  The range for all four metrics was pretty large going from about 0.5-11%.  The averages were much lower than the medians at only about 0.5-2%.  The medians were much higher at about 10-11%.  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 the largest overall decrease was seen in the median sale price therefore the best guess is that prices are down right at the top of the range at just under 11%.

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 Acton, MA the average days on market in July of 2015 were 41.11 and the average days on market for July 2016 were 46.41 giving a modest 12.89% increase.

Acton, Massachusetts Summary:

The Acton, 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 little bit as well, further supporting some decline in the market.

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

 

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

 

Real Estate Trends – Acton, Massachusetts #2

Introduction:

Welcome back for our latest real estate market trend report.  Those of you that are here for the first time what we do in these reports is examine 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.  We are continuing to revisit some of our previous towns again in this post.

Today we are taking our 2nd look at Acton, MA in Middlesex County

 Isaac Davis Monument - Acton MA Real Estate

Back a few months ago when we analyzed the January data we saw Acton, MA was down a little bit with listing prices down almost 8% and sales prices down almost 6%.  Though the days on market were down about 40%, when adjusted for large outlier in the 2015 data, so not all indicators had the housing market going down.

Market Trends in Acton, MA – April 2014 and 2015:

The Acton, MA market appears to be down significantly since last year and more dramatically than what we saw in February.  Both the average listing and average sales prices were way down.  The days on market have gone up some year over year as well.  Inventory was stable going from 15 sales in April of 2014 to 14 in April 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Acton, MA the average listing price in April 2014 was $627,447.  This was down to $557,606 in April 2015.  That gives a very large 11.13% decrease year over year.  This is quite a bit larger than we saw before and a decrease of 6.39% from January.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Acton, MA in April of 2014 was $629,717 and in April 2015 that was down to $548,544.  That gives an even larger decrease of 12.89%.  This again is much larger than the year over year decline we saw last time and the decrease since January is 7.91%.

It is also worth noting that in April of 2014 houses were selling for 100.4% of listed price, meaning that on average places were selling for above list price.  Looking at the individual sales we see that 8 of the 15 sales were above the asking price and another for exactly the list price.  This is an indicator that the market was very hot at that time.   

Average Days on Market:

The final thing we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market.  For Acton, MA the average days on market in April of 2014 were 39.20 and the average days on market for April 2015 were 74.57, for a whopping 90.23% increase. 

However, as we have seen many times before in our previous posts for AbingtonBedfordSeekonk, BelmontTopsfieldCanton,  Dracut (Condos)HamiltonWakefield, Amesbury (Condos), Dracut #2, Taunton, Reading, Stoughton, Wrentham, Stoneham, Dedham, Nashua, NH, Tewksbury, Brockton (Multifamily), Lowell (Multifamily), Acton, Foxboro, Pembroke, Chelmsford, Beverly,  Framingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington and Duxbury outliers in the data can really skew these numbers.  This again this is the case for Acton, MA for April.  In this case there was a very high days on market house in the 2015 data.

In 2015 there was a house with 344 days on market; this was higher than the next 2 combined and not that much less than the next 3.  When removed the new calculation for the remaining 13 houses gives an average days on market of 53.85.  Using this adjusted number we see that the huge increase in days on market now becomes a much smaller, but still significant, 37.42% increase.  This doesn’t change the general thought that things are selling slower than last year but it does make it much less dramatic.  To give at least one positive take away for current sellers, while the days on market are up year over year they are down almost 34% since January so at least things are moving better than over the winter.

Acton, Mass Summary:

The Acton, Massachusetts real estate market looks like is has fallen a lot since last year.  The significant drops in listing prices and sale prices demonstrate this and the fact that both are down a bit over the last few months is a stronger indication of downward trends.  The significant increase in days on market also supports this conclusion. 

In summary if you are looking to sell a house in Acton, MA now you should expect to get quite a bit less than you would have last year.  You should also expect it to take longer to sell compared to last year.

 

Do you need to sell your Acton, 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: Isaac Davis Monument via Wikipedia)

 

Real Estate Trends – Acton, Massachusetts

Introduction:

Thanks for checking back in for our latest real estate market trend report.  If this is your first time reading one of these in these reports, what we do is we examine a town in Massachusetts or New Hampshire and its current real estate market trends.  What we do is look at the municipality’s year over year change in the real estate market and talk about those observations and what they will mean moving forward.

Today we are highlighting Acton, MA in Middlesex County.

Discovery Museum - Acton MA Real Estate

Market Trends in Acton, MA – January 2014 and 2015:

The Acton, MA market is down somewhat since last year.  Both the listing and sales prices are down a bit.  The days on market though were pretty stable, at least on the surface.  Inventory was fairly consistent with 10 sales in January of 2014 and 11 sales in 2015.

Average Listing Prices:

The first thing we will take a look at is the average listing price.  For Acton, MA in January 2014 the average list price was $648,946.  This decreased down to $597,609 in January 2015.  This gives a noticeable decrease of 7.91%.

Average Sale Prices:

The next metric we will look at is average sale prices.  For January of 2014 the average sale price for Acton, MA was $632,589 and by January 2015 that was down to $595,651.  That would be a smaller decrease of 5.84%.  This isn’t a huge gap between listed and sale price but does show that the local agents are recognizing that things are going down and are getting places priced right.

Average Days on Market:

The final thing we will take a look at are the days on market, which is a measure of how long it is takes for a house to sell in the market.  For Acton, MA the average days on market in January of 2014 was 120.4 and the average days on market for January 2015 were 119.82, for a meaningless 0.48% decrease. However, as we have seen in several of our previous posts for the municipalities of AbingtonBedford, Seekonk, BelmontTopsfield, Canton,  Dracut (Condos)HamiltonWakefield, Amesbury (Condos), Dracut #2, Taunton , Reading, Stoughton , Wrentham, Stoneham, Dedham, Nashua, NH , Tewksbury and Brockton (Multifamily), and Lowell (Multifamily)an outlier can really skew the data.  Once again that is the case for Acton, MA.  In this instance it is the newer 2015 data that is skewed.  We will see that this actually makes the decrease we see much more important. In 2015 there was one place that was high at 598 days.  That was more than the next 5 highest combined and more than 45% of the total days on market for all the houses sold that month!  While sometimes we might eliminate a point that would not qualify by stringent statistical analysis this one is about as obvious as you can get. When we remove this point the other 10 houses were left with an average of 72.0.  Using this instead we see that they decreased by 40.2%.  Once adjusting that data we see that instead of the days on market being the same they are actually down quite a bit.

Acton, Mass Summary:

The Acton, Massachusetts real estate market has slowed down some since last year.  This is seen with the declines in both listed and sale prices.  Though unexpectedly this was accompanied by a good size decrease in the days on market, which is not what you would usually expect.  That does give a little comfort to house sellers this year.  While prices are down a little, if they price their property correctly they are selling faster than last year. In summary if you are looking to sell a house in Acton, MA now you should expect to get less for it than you would have last year.  However you should not need to take a large discount off of your initial price to avoid sitting on it for a long time.  If you have it priced correctly things are still moving and faster than before, just at lower prices.

 

Do you need to sell your Acton, 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: Discovery Children’s Museum by John Phelan via Wikipedia)