Real Estate Trends – Cohasset, 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 Cohasset, MA in Norfolk County. 

 Cohasset Massachusetts Common - Cohasset MA Real Estate

Market Trends in Cohasset, MA – June 2014 and 2015:

The Cohasset, MA market appears to be down somewhat since last year.  Both the average listing and average sales prices were down.  The days on market are also up since last year.  Inventory was pretty stable with 11 sales in June of 2014 and 12 in June 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Cohasset, MA the average listing price in June 2014 was $988,909.  This was down to $889,933 in June 2015.  That gives a fairy significant 10.01% decrease year over year. 

Looking at the median prices for Cohasset, MA these were a bit lower than the averages so we did want to see if they told a different story than the averages.  For June of 2014 the median listing price for Cohasset, MA was $875,000 and in June 2015 it was $784,000 giving a similar 10.40% decrease.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Cohasset, MA in June of 2014 was $958,182 and in June 2015 that was down to $889,408.  That gives a noticeably smaller decrease of 7.18%. 

As with the Listing prices if we look at the median prices we see that they are a bit smaller than the average prices.  For June of 2014 the median sales price for Cohasset, MA was $860,000 and in June 2015 it was $767,500 giving a much larger 10.76% decrease compared to the averages.  This is more in line with what we saw with the decreases in the list prices by both methods.

Both methods show that prices are down a fair amount for Cohasset, MA from last year’s numbers.

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 house to sell in the current market.  For Cohasset, MA the average days on market in June of 2014 were 104.91 and the average days on market for June 2015 were 124.58, for a moderate 18.75% increase. 

Cohasset, Mass Summary:

The Cohasset, Massachusetts real estate market looks like is has declined some since last year.  The pretty good size drops in listing prices and sale prices, by both averages and medians show things are down, as does the increase in days on market.

In summary if you are looking to sell a house in Cohasset, MA now you should expect to get less than you would have expected to get last year.  In addition you should also expect it to take a little longer time to sell compared to last year, sellers might want to consider taking more of a discount to stand out and sell their property faster since the days on market are very high.

 

Do you need to sell your Cohasset, 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: Cohasset Common by Wwoods via Wikipedia)