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)

 

Real Estate Trends – Rehoboth, 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 Rehoboth, MA in Bristol County

 Rehoboth MA Seal - Rehoboth Massachusetts Real Estate

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

The Rehoboth, MA market has fallen off since last year.   The average prices were down some and the median prices were as well.  The days on market were pretty flat.  Inventory was up some with 11 sales in July of 2015 up to 15 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Rehoboth, MA the average listing price in July 2015 was $433,209.  This was down to $395,520 in July 2016.  This gives a more than modest decrease of 8.70% year over year. 

Looking at the median prices we see that it was lower in both 2015 and 2016.  For July of 2015 the median listing price for Rehoboth, MA was $419,000 and in July 2016 it was $379,900 which now gives a larger decrease of 9.33%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Rehoboth, MA in July of 2015 was $419,105 and in July 2016 that was down to $383,133.  That gives another modest decrease of 8.58%, just about the same as 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 Rehoboth, MA was $405,000 and in July 2016 it was $375,000 giving a smaller decrease of 7.41%.

Prices are down some for Rehoboth, MA this month.  The range for all the numbers was pretty small only going from around 7.5-9.5%.  The averages were very consistent at just over 8.5%.  The medians were not as the median list was the high and the median sale was the low point.  Since the median sale price is generally considered the most important one we look at we give it the most weight so prices are down more at the bottom of our range.  Give all the other ones are higher and the overall range was tight maybe prices are down closer to 8% then under 7.5% but that is about the most I would be willing to push it up from.

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 Rehoboth, MA the average days on market in July of 2015 were 101.09 and the average days on market for July 2016 were 105.27 giving a small 4.13% increase.  While up slightly this is pretty flat overall.

Rehoboth, Massachusetts Summary:

The Rehoboth, Massachusetts real estate market is down some since last year.  The average prices were down and the median prices were down around the same amount.  The days on market were up a tiny bit as well.

In summary if you are looking to sell a house in Rehoboth, 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 about the same, but maybe slightly more, time to sell compared to last year as well. 

 

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

 

Real Estate Trends – Westport, 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 Westport, MA in Bristol County

 

Market Trends in Westport, MA – May 2015 and 2016:

The Westport, MA market has fallen off significantly since last year.   The average prices are down a lot and the median prices were down about the same.  The days on market appear to be down somewhat at first glance.  However as we have seen many times before this needs a little closer analysis.  Inventory went through the roof with 7 sales in May of 2015 all the way up to 24 in May 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Westport, MA the average listing price in May 2015 was $596,800.  This was down to $339,935 in May 2016.  This gives a massive decrease of 43.04% year over year. 

Looking at the median prices we see that they were a bit lower in both years.  For May of 2015 the median listing price for Westport, MA was $519,000 and in May 2016 it was $286,200 which now gives a slightly larger decrease of 44.86%!

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Westport, MA in May of 2015 was $584,986 and in May 2016 that was down to $319,599.  That gives another very large decrease of 45.37%, a little larger than the average list price. 

We see the same pattern that we did for the median list price.  For May of 2015 the median sales price for Westport, MA was $514,000 and in May 2016 it was $284,715 giving another humongous decrease of 44.61%. 

Prices have gone down way for Westport, MA this month.  For such huge drops the range was very tight going from roughly 43-45.5%.  With such a small range on such large drops we can really just leave it at that.  However to try to pin it down more we would drop the average list price from much consideration since it would be considered the least useful of our metrics and it is the closest thing to an “outlier” as we have in the data.  As small as the full range is the gap between the average listing price and the next lowest accounts for 2/3rds of the total range.  Therefore with both medians being just under 45% and the average sale price being just over 45% the best guess is that prices are down right at, or just a tiny hair below, 45%.

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 Westport, MA the average days on market in May of 2015 were 206.86 and the average days on market for May 2016 were 171.83 giving a fair small drop with a 16.93% decrease.

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, BeverlyFramingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington, Duxbury, Acton #2 , Taunton (Condos), Tyngsborough, Milton, Salem, NH, Boston’s Hyde Park, Boston’s West Roxbury , Somerville, Canton #3, Pelham, NH, Westford, Plymouth (Condos), Boston’s Jamaica Plain , Halifax, Braintree (Condos), Newton (Multifamily), Plainville ,Boxford, Wayland , West Bridgewater, East Bridgewater, Marlborough (Condos), Natick (Condos), Gloucester, (Condos), Melrose (Condos), Norton (Condos), Newburyport, Atkinson, NH, Fairhaven, Lexington, Arlington (Condos), Salisbury, Weston, Groton, Wellesley, Littleton, Lowell (Condos) #2, East Boston (Condos), Dedham #3, Hanover, Canton (Condos), Belmont #2, Seabrook, NH, Hingham (Condos), Lakeville, Raynham, Holliston, Londonderry, NH, Georgetown, South Boston (Condos), Needham #2, Arlington #2, Foxboro #2, Boston’s Roslindale (Condos), Burlington #2, Salem NH #2, Boston’s South End (Condos) #2Somerset, Everett (Multifamily), Sharon, Dedham #4, Boston’s Brighton (Condos), Winthrop (Condos), Littleton #2 and Ipswich outliers in the data can really skew these numbers.  This again is the case for Westport, MA in May.  In this instance there was a very high days on market place in both 2015 and 2016.

In 2015 there was a property with 725 days on market; this was more than the other 6 properties combined and just over 50% of the total days on market for all 7 Properties.  When removed the new calculation for the remaining 6 properties gives an average days on market of 120.50. 

In 2016 there was a property with 1352 days on market; this was more than the next 3 properties combined and just over 32.5% of the total days on market for all 24 Properties.  When removed the new calculation for the remaining 23 properties gives an average days on market of 120.52. 

Using the adjusted numbers we now get they are totally flat with a totally meaningless increase of less than 0.02%.  This does change the basic conclusion that the days on market were down a little bit and now they appear to be pretty much flat.

Westport, Massachusetts Summary:

The Westport, Massachusetts real estate market is down a tremendously since last year.  The average prices were down substantially while the median prices were down just as much.  The days on market were pretty much flat with only small increase which is not a major factor but does not dispute a conclusion of a down market.

In summary if you are looking to sell a house in Westport, 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 take about the same amount of time to sell compared to last year. 

 

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

 

Real Estate Trends – Easton, 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 Easton, MA in Bristol County

 Ames Memorial Hall and Library Easton MA - Easton Massachusetts Real Estate

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

The Easton, MA market has fallen off a bit since last year.   The average prices are down and the median prices were down as well.  The days on market were down a lot though.  Inventory was up a very large amount with 12 sales in May of 2015 all the way up to 27 in May 2016, more than doubling. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Easton, MA the average listing price in May 2015 was $464,008.  This was down to $389,393 in May 2016.  This gives a huge decrease of 20.50% year over year. 

Looking at the median prices we see that they were lower in both years.  For May of 2015 the median listing price for Easton, MA was $394,900 and in May 2016 it was $350,000 which now gives a smaller decrease of 11.37%. 

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 May of 2015 was $447,254 and in May 2016 that was down to $383,606.  That gives another sizable decrease of 14.23%, but a bit smaller than the average list price. 

We see the same pattern that we did for the median list price.  For May of 2015 the median sales price for Easton, MA was $394,950 and in May 2016 it was $350,000 giving another large decrease of 11.38%, and almost exactly the same as the median list price. 

Prices are definitely down for Easton, MA in May.  The range was fairly large going from about 11.5-20.5%.  The average list price is far and away the biggest drop and is also considered the least useful one of the 4 metrics we look at, therefore we will pretty much disregard it.  Overall the medians are the more favored method so with both of those coming in right under 11.4% that is probably right around the actual drop though I would say it could skew a touch higher with the slightly higher average sale price number, but probably not as much as the more than 14% drop seen there.

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 May of 2015 were 124.00 and the average days on market for May 2016 were 74.52 for a good sized 39.90% decrease.

Easton, Massachusetts Summary:

The Easton, Massachusetts real estate market is down a bit since last year.  The average prices were down while the median prices were down almost as much.  The days on market were down a bit however.  While a nice piece of information for sellers the price drops out weigh this in our conclusion that the market has gone down.

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.  However you could also expect it to take a little less 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: Ames Memorial Hall and Library – North Easton MA by Daderot via Wikipedia)

 

Real Estate Trends – Dartmouth, 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 Dartmouth, MA in Bristol County

 Dartmouth MA Seal - Dartmouth Massachusetts Real Estate

Market Trends in Dartmouth, MA – April 2015 and 2016:

The Dartmouth, MA market has fallen off significantly since last year.   The average prices were down a lot and the median prices were down by almost as much.  The days on market were down a bit however.  Inventory was pretty stable with 21 sales in April of 2015 down to 19 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Dartmouth, MA the average listing price in April 2015 was $444,895.  This was down to $281,184 in April 2016.  This gives a tremendous decrease of 36.82% year over year. 

Looking at the median prices we see that it was much lower in both years.  For April of 2015 the median listing price for Dartmouth, MA was $359,900 and in April 2016 it was $250,000 which now gives a smaller but still huge decrease of 30.54%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Dartmouth, MA in April of 2015 was $412,482 and in April 2016 that was down to $273,063.  That gives another mammoth decrease of 33.80%, though slightly smaller compared to the average list price. 

We see the same pattern as we did for the median list price.  For April of 2015 the median sales price for Dartmouth, MA was $335,825 and in March 2016 it was $244,700 giving another very large decrease of 27.13%. 

Prices are way down in Dartmouth, MA in April.  The averages were down a bit more than the medians, with drops in the mid 30s.  The medians were down a lot as well but were a touch lower with a range of about 27-30.5%.  Since median prices are the preferred evaluation method we would say prices are most likely down in that lower 27-30.5% range.  In addition to that since sales are more important the listing price changes the best overall guess is that they are down in the low end of that range and are down a little over 27%.  This is still a huge decrease but slightly less jarring than the 30-37% that the other 3 metrics fell into.

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 Dartmouth, MA the average days on market in March of 2015 were 208.10 and the average days on market for March 2016 were 133.63 for a substantial 35.79% decrease.  It is worth pointing out that both these numbers are terrible.  While it is somewhat encouraging to see that kind of improvement they are still a long way from anything that would be considered good.

Dartmouth, Massachusetts Summary:

The Dartmouth, Massachusetts real estate market is down substantially since last year.  The average prices were down a tremendous amount while the median listing prices were down almost as much.  The days on market were down a some though, but not nearly enough to start to compensate for these tremendous price drops. 

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

 

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

 

Real Estate Trends – Freetown, 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 Freetown, MA in Bristol County

 Freetown MA Town Hall - Freetown Massachusetts Real Estate

Market Trends in Freetown, MA – March 2015 and 2016:

The Freetown, MA market has fallen off substantially since last year.   The average prices were down significantly and the median prices were down by a similar amount.  The days on market increased significantly as well.  Inventory was up a lot, more than tripling, with 5 sales in March of 2015 and 17 in March 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Freetown, MA the average listing price in March 2015 was $408,140.  This was down to $327,676 in March 2016.  This gives a substantial decrease of 19.71% year over year. 

Looking at the median prices we see that it was much lower in 2015 and a bit higher in 2016.  For March of 2015 the median listing price for Freetown, MA was $376,900 and in March 2016 it was $339,900 which now gives a smaller, but still significant, decrease of 9.82%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Freetown, MA in March of 2015 was $417,541 and in March 2016 that was down to $322,796.  That gives a slightly larger decrease of 22.69% compared to the average list price. 

We see a different pattern than we did with the listing prices for the median sale prices.  In this case for 2015 it was almost the same as the average only differing by few hundred dollars while in 2016 more by a similar amount.  For March of 2015 the median sales price for Freetown, MA was $417,875 and in March 2016 it was $332,000 giving another very large decrease of 20.55%. 

Everything indicates that prices are down a lot in Freetown, MA in March.  The median list price is a bit of an outlier being a little under 10% while the other three metrics are pretty tight going from just under 20% to just under 23%.  Medians are generally the preferred metric and sales are far more important that listing prices so since the median sale price is in the middle of the range the best guess for the overall price drop would be about 20.5%.

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 Freetown, MA the average days on market in March of 2015 were 67.20 and the average days on market for March 2016 were 108.65 for a substantial 61.68% increase. 

Freetown, Massachusetts Summary:

The Freetown, Massachusetts real estate market is down a tremendous amount since last year.  The average prices were down a large amount.  The median listing prices was down a lot but a fair bit less, however the median sale price was also down a lot topping a decrease of 20%.  The days on market were also up a significant amount given more evidence of a weaker market. 

In summary if you are looking to sell a house in Freetown, MA now you should expect to get much less for it than you would have gotten last year.  You can also expect it to take much more time to sell compared to last year as well.  With a glut of inventory and significant increasing of days on market sellers might want to consider taking an even bigger discount off the current soft prices to avoid sitting on their properties for a very long time.

 

Do you need to sell your Freetown, 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: Freetown MA Town Hall by ToddC4176 via Wikipedia)

 

Real Estate Trends – Somerset, 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 Somerset, MA in Bristol County

 Town Seal Of Somerset MA - Somerset Massachusetts Real Estate

Market Trends in Somerset, MA – March 2015 and 2016:

The Somerset, MA market has fallen off since last year.   The average prices were down a bit and the median prices were down as well.  However the days on market were down a huge amount, though the initial numbers may be a bit overstated.  Inventory was up a bit with 10 sales in March of 2015 and 16 in March 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Somerset, MA the average listing price in March 2015 was $239,080.  This was down to $221,019 in March 2016.  This gives a decrease of 7.55% year over year. 

Looking at the median prices we see that it was higher in 2016 and just a little bit lower in 2015.  For March of 2015 the median listing price for Somerset, MA was $237,450 and in March 2016 it was $226,000 which now gives a decrease of 4.82%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Somerset, MA in March of 2015 was $237,013 and in March 2016 that was down to $214,781.  That gives a bit higher decrease of 9.38% compared to the average list price. 

We see a slightly different pattern than we did with the listing prices here for the median sale prices, where this time both were less than the averages.  For March of 2015 the median sales price for Somerset, MA was $234,500 and in March 2016 it was $214,500 giving another sizable decrease of 8.53%. 

All the metrics show prices are down in Somerset, MA this month.  The overall range is fairly small though going from roughly 5-9.5%.  The median list price is a little bit of an outlier on the low side and since listing prices are less important than the sale prices we would discount that one and take the 7.5-9.5% range of the other 3 metrics as our base.  Medians are generally the favored metric and specifically the median sale price is considered the most important. Therefore we would conclude that prices are most likely down right in the middle of that range at the ~8.5% decrease seen with the median sale price.

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 Somerset, MA the average days on market in March of 2015 were 272.80 and the average days on market for March 2016 were 62.44 for a huge 77.11% decrease. 

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, BeverlyFramingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington, Duxbury, Acton #2 , Taunton (Condos), Tyngsborough, Milton, Salem, NH, Boston’s Hyde Park, Boston’s West Roxbury , Somerville, Canton #3, Pelham, NH, Westford, Plymouth (Condos), Boston’s Jamaica Plain , Halifax,Braintree (Condos), Newton (Multifamily), Plainville ,Boxford, Wayland , West Bridgewater, East Bridgewater, Marlborough (Condos), Natick (Condos), Gloucester, (Condos), Melrose (Condos), Norton (Condos), Newburyport, Atkinson, NH, Fairhaven, Lexington, Arlington (Condos), Salisbury, Weston, Groton, Wellesley, Littleton, Lowell (Condos) #2, East Boston (Condos), Dedham #3, Hanover, Canton (Condos), Belmont #2, Seabrook, NH, Hingham (Condos), Lakeville, Raynham, Holliston, Londonderry, NH, Georgetown, South Boston (Condos), Needham #2, Arlington #2, Foxboro #2, Boston’s Roslindale (Condos), Burlington #2, Salem NH #2 and Boston’s South End (Condos) #2 outliers in the data can really skew these numbers.  This again is the case for Somerset in March.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 1035 days on market; this was almost as much as the next 3 properties combined and almost 38% of the total days on market for all 10 Properties.  When removed the new calculation for the remaining 9 properties gives an average days on market of 188.11. 

Using the adjusted numbers we now get a decrease of 66.81%.  This does not change the general conclusion of the days on market being significantly down.  Now the size of the decrease is a little smaller while still being very, very large. 

Somerset, Massachusetts Summary:

The Somerset, Massachusetts real estate market is down since last year.  The average prices were down as were the median prices too.  The days on market were down a lot though which does serve as some counter argument to the down market.  Unlike many of our other articles where price drops were also accompanied by lower days on market, the decrease is large enough that the argument that those are as important as the price drops.  Generally the decreases for the days on market were far smaller and the price drops were often a bit higher.  Therefore even though we are concluding that the price drops are the more important factor if someone was to argue that we are overstating the decline after taking into account selling over 4 months faster we would not push back very hard on that point.

In summary if you are looking to sell a house in Somerset, 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 much less time to sell compared to last year as well. 

 

Do you need to sell your Somerset, 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 Somerset MA via Wikipedia)

 

Real Estate Trends – Bristol County, Massachusetts

Introduction:

In this latest market trend report we are looking more regionally with our first “County Report” for the  Massachusetts real estate market in a while.  The advantage of doing this is that instead of looking at just a handful of properties we can analyze dozens, and in this case hundreds.  Those of you that are familiar with statistics you know that more data points the better the analysis you can do.

In this case we will be looking at the single family sales in Bristol County.  While there are many active towns in the county there are several that have so few sales that it is hard to analyze them, and with many others that barely have enough to.  While real estate is very local getting a feel for how a larger region is doing can give a general pulse of the market, ever if any given municipality might be different from these trends.

Bristol County  is made of the Cities of Attleboro, Fall River, New Bedford and Taunton and the towns of AcushnetBerkley, Dartmouth, Dighton, EastonFairhaven, FreetownMansfieldNorth Attleborough, NortonRaynham, Rehoboth, Seekonk, Somerset, Swansea and Westport..

 Bristol County Map - Bristol County MA Real Estate

Market Trends in Bristol County, MA – February 2015 and 2016:

The Bristol County, MA market has declined a bit since last year.  The average listing prices are down and average sales prices were down by a bit as well.  However the days on market did also decrease some year over year.  Inventory was up a good amount with 194 sales in February of 2015 and 247 sales in February 2016. 

Average Listing Prices:

First let’s look at the average listing price.  For Bristol County, MA in February 2015 the average list price was $314,002.  This was down a bit to $289,838 in February 2016.  That gives a fairly sizable decrease of 7.70%. 

Average Sale Prices:

The next item to examine is the average sale prices.  The average sale price for Bristol County, MA in February of 2015 was $301,204 and in February 2016 that was down some to $278,544.  That results in a very slightly smaller decrease of 7.52%. 

Average Days on Market:

Finally we will take a look at the average days on market, a measure of how long it takes for a house to sell in the market.  For Bristol County, MA the average days on market in February of 2015 was 136.58 and the average days on market for February 2016 were 122.87.  This gives us a very modest 10.04% decrease.

Bristol County, Mass Summary:

The Bristol County, Massachusetts market looks like is has declined since last year.  The decent decreases in both listing prices and sale prices support this.  The decrease in the days on market is still encouraging, but not as big of a factor as the price drops.   

In summary if you are looking to sell a house in Bristol County, MA now you should expect to get less for it than you would have last year.  However you should also expect to be able to sell it a little bit faster than you would have last year, if you are priced correctly of course.    

  

Do you need to sell your Bristol County, 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: Bristol County Map via Worcestermass.com)

 

Real Estate Trends – Fall River, 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 once again highlighting the market in Fall River, MA in Bristol County

 Fall River MA Seal - Fall River Massachusetts Real Estate

This is the first time looking at single family properties here in Fall River, MA.  Previously we did look at the Multifamily market back in December of last year.

Market Trends in Fall River, MA – February 2015 and 2016:

The Fall River, MA market has fallen off substantially since last year.   The average prices were down significantly and the median prices were down even more.  The days on market were also up quite a lot also.  Inventory was up a little with 21 sales in February of 2015 and up to 24 in February 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Fall River, MA the average listing price in February 2015 was $240,314.  This was down to $209,000 in February 2016.  This gives a very large decrease of 13.03% year over year. 

Looking at the median prices we see that it was lower in both years, though barely in 2015.  For February of 2015 the median listing price for Fall River, MA was $239,000 and in February 2016 it was $197,450 which now gives an even larger decrease of 17.39%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Fall River, MA in February of 2015 was $230,590 and in February 2016 that was down to $200,429.  That gives pretty much the same decrease we saw with the average listing price at 13.08%. 

We see a different pattern than we did with the listing prices here for the median sale prices.  In this case it was higher in 2015 while still lower in 2016.  For February of 2015 the median sales price for Fall River, MA was $238,000 and in February 2016 it was $197,500 giving another larger decrease of 17.01%. 

Everything indicates that prices are down substantially in Fall River, MA in February.  The range for all 4 metrics is not huge going from about 13-17.5%.  However both the averages prices were lower and the medians were higher.  Since medians are the more favored method for looking at real estate pricing we would conclude that prices are down in that 17% range of the medians price declines.

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 Fall River, MA the average days on market in February of 2015 were 103.71 and the average days on market for February 2016 were 185.92 for a huge 79.27% increase. 

Fall River, Massachusetts Summary:

The Fall River, Massachusetts real estate market is down a good amount since last year.  The average prices were down a lot with the median prices being down by an even more substantial amount.  The days on market were also up significantly, which further supports a conclusion of the market being down a significant amount. 

In summary if you are looking to sell a house in Fall River, MA now you should expect to get much less for it than you would have gotten last year.  You can also expect it to take a much more time to sell compared to last year as well.  With the huge increase in days on market sellers might want to consider selling at a discount from the already reduced prices to avoid sitting on their property for a very long time.

 

Do you need to sell your Fall River, 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: Fall River MA Seal via Wikipedia)

 

Real Estate Trends – Raynham, 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 Raynham, MA in Bristol County

 Raynham MA Library - Raynham Massachusetts Real Estate

Market Trends in Raynham, MA – January 2015 and 2016:

The Raynham, MA market has fallen substantially since last year.   The average prices were down a lot and the median prices were down significantly as well.  The days on market also appear to be up a bit also, however this may be deceiving.  Inventory was pretty stable only going down from 13 sales in January of 2015 to 11 in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Raynham, MA the average listing price in January 2015 was $412,144.  This was down to $324,882 in January 2016.  This gives a huge decrease of 21.17% year over year. 

Looking at the median prices we see that they were a bit lower in both years.  For January of 2015 the median listing price for Raynham, MA was $399,900 and in January 2016 it was $285,000 which gives a much larger decrease of 28.73%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Raynham, MA in January of 2015 was $399,915 and in January 2016 that was down to $314,673.  That gives a very similar 21.32% decrease compared to the average list price. 

We see the same pattern with the median sale prices as we did for the listing prices.  For January of 2015 the median sales price for Raynham, MA was $385,000 and in January 2016 it was $280,000 giving another larger decrease of 27.27%. 

All the metrics we looked at show that prices are down significantly year over year for Raynham, MA in January.  The medians were down a bit more than the averages and since the medians are the preferred statistic when analyzing real estate the 27-29% drops suggested by the medians is probably more accurate than the, still sizable, 21% the averages suggest.  Also since the median sales price was a little lower than the decrease in the listing prices things are probably down on the low end of the range for just a little over 27%.

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 Raynham, MA the average days on market in January of 2015 were 97.77 and the average days on market for January 2016 were 122.82 for a decent 25.62% 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, BeverlyFramingham (Condos), Plymouth County (Condos), Marlborough, Billerica, Waltham, Dracut (Condos) #2, Derry, NH, Framingham, Burlington, Duxbury, Acton #2 , Taunton (Condos), Tyngsborough, Milton, Salem, NH, Boston’s Hyde Park, Boston’s West Roxbury , Somerville, Canton #3, Pelham, NH, Westford, Plymouth (Condos), Boston’s Jamaica Plain , Halifax,Braintree (Condos), Newton (Multifamily), Plainville ,Boxford, Wayland , West Bridgewater, East Bridgewater, Marlborough (Condos), Natick (Condos), Gloucester, (Condos), Melrose (Condos), Norton (Condos), Newburyport, Atkinson, NH, Fairhaven, Lexington, Arlington (Condos), Salisbury, Weston, Groton, Wellesley, Littleton, Lowell (Condos) #2, East Boston (Condos), Dedham #3, Hanover, Canton (Condos), Belmont #2, Seabrook, NH, Hingham (Condos) and Lakeville outliers in the data can really skew these numbers.  This again is the case for Raynham, MA in January.  In this instance there was a very high days on market place in 2016.

In 2016 there was a property with 523 days on market; this was a bit more than the next 4 properties combined and almost 39% of the total days on market for all 11 Properties.  When removed the new calculation for the remaining 10 properties gives an average days on market of 82.80. 

Using the adjusted numbers we now get a fairly small decrease of 15.31%.  This does change the conclusion of the days on market being up a modest amount.  Now we see they are actually down some.  This is not a huge decrease but the swing from a moderate increase to this does change the perception a bit.

Raynham, Mass Summary:

The Raynham, Massachusetts real estate market is down significantly since last year.  The average prices were way down and median prices were down even more.  The days on market do appear to be down a little, but not nearly enough to counteract the large prices drops.

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

 

Do you need to sell your Raynham, 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: Raynham_Public_Library by Emw via Wikipedia)