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

 Flag of Holliston MA - Holliston Massachusetts Real Estate

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

The Holliston, MA market has fallen off significantly since last year.   The average prices were down a lot and the median prices were down substantially more.  The days on market also appear to be down quite a bit though, however this does appear to be overstated.  Inventory was pretty stable only going up from 8 sales in January of 2015 to 9 in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Holliston, MA the average listing price in January 2015 was $589,575.  This was down to $417,322 in January 2016.  This gives a huge decrease of 29.22% year over year. 

Looking at the median prices we see that they were lower in both years especially in 2016.  For January of 2015 the median listing price for Holliston, MA was $574,450 and in January 2016 it was $339,900 which gives a much larger decrease of 40.83%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Holliston, MA in January of 2015 was $581,563 and in January 2016 that was down to $398,489.  That gives a slightly larger 31.48% 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 Holliston, MA was $567,050 and in January 2016 it was $336,500 giving another larger decrease of 40.66%. 

No matter how you want to look at it prices are down significantly year over year for Holliston, MA in January.  There is a pretty sizable gap between what the averages and the medians say however.  Medians are the preferred way to look at things so we would say that those will give the more accurate representation of what is going on.  So while the 29-32% drop suggested by the averages was still extremely high it is actually a bit worse and prices appear to be down a little over 40% in Holliston, MA this month.

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 Holliston, MA the average days on market in January of 2015 were 108.88 and the average days on market for January 2016 were 68.33 for a substantial 37.24% 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 and Raynham outliers in the data can really skew these numbers.  This again is the case for Holliston, MA in January.  In this instance there was a very high days on market place in 2015.

In 2016 there was a property with 322 days on market; this was almost as much as the next 2 properties combined and almost 37% of the total days on market for all 8 Properties.  When removed the new calculation for the remaining 7 properties gives an average days on market of 78.43. 

Using the adjusted numbers we now get a fairly small decrease of 12.88%.  This does not change the general conclusion of the days on market being down.  However, it went from looking like they were down quite a lot to being down by a fairly insignificant amount.

Holliston, Mass Summary:

The Holliston, 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 Holliston, 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 Holliston, 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: Flag of Holliston MA via Wikipedia)