Real Estate Trends – Kingston, 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 Kingston, MA in Plymouth County

 Kingston MA Seal - Kingston Massachusetts Real Estate

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

The Kingston, MA market appears to be down a little since last year.  Both the average listing and average sales prices were down some.  The days on market are also up since last year.  Inventory was up a fair amount going from 23 sales in June of 2014 and 29 in June 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Kingston, MA the average listing price in June 2014 was $451,232.  This was down to $420,697 in June 2015.  This gives a modest 6.77% decrease year over year. 

As we have been seeing much more recently the median prices for Kingston, MA were a bit lower than the averages and it appears they might give a bit of a different conclusion.  Therefore we did want to calculate these as well.  For June of 2014 the median listing price for Kingston, MA was $419,900 and in June 2015 it was $384,500 which does give a larger 8.44% decrease.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Kingston, MA in June of 2014 was $439,535 and in June 2015 that was down to $420,562.  That gives a noticeably smaller decrease of 4.32%. 

Looking at the median prices we see that they are a bit smaller than the average prices, especially in 2015.  For June of 2014 the median sales price for Kingston, MA was $429,900 and in June 2015 it was $387,500 giving a much larger 9.86% decrease compared to the averages.  This is quite a bit more than the average and is outpacing what we saw for the list prices as well.

Both methods show that prices are down in Kingston, MA from last year.  The effect is much more pronounced using the medians.

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 Kingston, MA the average days on market in June of 2014 were 105.39 and the average days on market for June 2015 were 128.03, for a decent 21.48% increase. 

Kingston, Mass Summary:

The Kingston, Massachusetts real estate market looks like is has declined some since last year.  The drops in listing prices and sale prices, by both averages and medians show things are down, as does the increase in days on market.  The magnitude of the drop is unclear as the price drops were a little scattered.

In summary if you are looking to sell a house in Kingston, MA now you should expect to get somewhat 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 Kingston, 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: Kingston Seal via Wikipedia)