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)

 

Real Estate Trends – Ashland, Massachusetts

Introduction:

Welcome to our latest real estate market trend report.  If you are reading one of these reports for the first time, what we do is examine real estate market in a municipality in Massachusetts or New Hampshire to evaluate its current conditions.  We do this by looking at the changes in several key metrics year over year for the town to see how the market has changed and then evaluate what those observations mean for that market moving forward.

Today we are highlighting Ashland, MA in Middlesex County.

Ashland has a special place in my heart as I got married at the Warren Center pictured above.

Market Trends in Ashland, MA – March 2014 and 2015:

The Ashland, MA market has fallen off a bit since last year.  Both the average listing and average sales prices were down a pretty large amount, while the days on market were up some.  Inventory was more or less stable with 7 sales in March of 2014 and 6 in 2015.

Average Listing Prices:

The first thing we are going to look at is the average listing price.  For Ashland, MA the average listing price in March 2014 was $381,600.  This was down a bit to $326,450 in March 2015, giving a very sizeable decline of 14.45%.  This is a big drop, though with so few sales the numbers will be less stable.

Average Sale Prices:

As always the next thing we are going to be looking at is the average sale prices.  The average sale price for Ashland, MA in March of 2014 was $375,029 and in March 2015 that was down to $317,483.  That gives a slightly larger decrease of 15.34%.

Average Days on Market:

The final thing that we will look at is the average days on market, which is a measure of how long it takes for a house to sell in the current market.  For Ashland, MA the average days on market in March of 2014 were 53.86 and the average days on market for March 2015 were 65.67, for a noticeable 21.93% increase.

Since we have seen so many instances where a single data point in one, or both, years can skew the data I want to point out that is not the case for Ashland, MA for either year we looked at.  The data for 2014 had one borderline point but in the end it was not that high relative to the other ones, unlike many of the other places we have seen with point several times bigger than the next highest.

Ashland, Mass Summary:

The Ashland, Massachusetts real estate market has gone down a bit since last year.  The sizable drop in listing prices along with the even larger drop in sale prices support this, as does the increase in the days on market.

In summary if you are looking to sell a house in Ashland, MA now you should expect to get a fair bit less for it than you would have last year.  You also should still consider taking a discount to sell it faster as the days on market are up a bit too.

 

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: Warren Conference Center and Inn via warrencenter.com)