Real Estate Trends – Hanson, Massachusetts

Introduction:

In this latest report on the real estate trends in various municipalities in Eastern Massachusetts and Southern New Hampshire.  Our main goal with these market reports is to show how the local real estate market has changed year over year in that town. At times the market will be going up and you could potentially sell your house for a higher retail price than last year.  However, sometimes the market has slowed and prices are declining while the average days on market are increasing.  In those instances one may consider selling fast and be okay getting less than you had anticipated.

Hanson, MA Town Seal

Today we are highlighting Hanson, MA in Plymouth County.

Market Trends in Hanson, MA – August 2013 and 2014:

Overall the Hanson market has gone down year over year.  The average listing prices are down as are the average sale prices while the days on market are also up significantly.  The overall number of properties sold was level only going from 14 sale down to 13.

Average Listing Prices:

In August 2013 the average listing price in Hanson was $293,486; in August 2014 it was down to $282,885. This represents a 3.61% decrease year over year.  This would tend to indicate that home buyers are paying less, and the real estate agents know that prices are going down.  A decrease in the average listing price shows they are trying to compensate for the declining prices.

Average Sale Prices:

In August 2013 the average sale price in Hanson, MA was $282,029; in August 2014 it was down to $273,023. This represents a 3.19% decrease.  This is a very similar decrease as the list prices.  It also would indicate that the actual prices are going about as fast as the real estate agents are compensating for the downward shift with the decreased listing prices.  This also is supported by the dramatic increase in the average days on market discussed next.

Average Days on Market:

In August 2013 the average days on market in Hanson were 47.29; in August 2014 it was up to 143.38. This represents a whopping 203% increase year over year.  It is pretty obviously that this is a huge increase!  This indicates that listings are overpriced and sale prices are going down faster than the local real estate professionals are compensating for those changes.  This is resulting in listings sitting on the market for a very long time.  It should be pointed out that with such small data sets one outlier can really skew the data.  We saw this in our previous reports on Abington, MA and Bedford, MA.  However that is not the case as no single house really skewed the 2014 data.  In 2013 the highest was 97 while in 2014 more than half the sales, 7 to be exact, were over 100 with two right around 350 and two others well over 200.

Hanson, Mass Summary:

With much higher days on market, lower listing prices and lower sale prices the Hanson, Massachusetts real estate market has slowed noticeably year over year.  The increase in days on market are pretty eye catching at over 200%, if you had hoped to sell your place quickly and for a higher price than last year you may have made a mistake. In summary if you are looking to sell your Hanson, MA home now you should expect to get less than you might have expected and should be willing to take a bigger discount off your listed price or be prepared for it so sit for several months before selling.

 

Do you need to sell your Hanson, Massachusetts house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

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(Image credit: “Hanson MA town seal” from Wikipedia)