Real Estate Trends – Marshfield, Massachusetts

Introduction:

We are back for another real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine 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 Marshfield, MA in Plymouth County

 Marshfield MA Town Hall - Marshfield MA Real Estate

Market Trends in Marshfield, MA – April 2014 and 2015:

The Marshfield, MA market appears to be down significantly since last year, very similar to neighboring Duxbury, MA that we looked at the other day.  Both the average listing and average sales prices were way down.  The days on market have gone up a tremendous amount year over year too.  Inventory was down a bit too going from 16 sales in April of 2014 to 11 in 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Marshfield, MA the average listing price in April 2014 was $450,631.  This was down to $394,455 in April 2015.  That gives a large 12.47% decrease year over year. 

Average Sale Prices:

Next we will look at the average sale prices.  The average sale price for Marshfield, MA in April of 2014 was $439,244 and in April 2015 that was down to $376,255.  That gives an even larger decrease of 14.34%.

Average Days on Market:

The last thing 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 Marshfield, MA the average days on market in April of 2014 were 61.50 and the average days on market for April 2015 were all the way up to 135.73, for a ridiculous 121% increase!

With such a big increase I want to point out that we do not see any big outliers that are skewing this data.  There are several very high day on market places in 2015 so that is not what is happening here.  In fact the 2014 data is much closer to seeing skewed data to make them look higher.

Marshfield, Mass Summary:

The Marshfield, Massachusetts real estate market looks like is has fallen a lot since last year.  The large drops in listing prices and sale prices show this clearly.  In addition the very large increase in days on market also supports this conclusion.

In summary if you are looking to sell a house in Marshfield, MA now you should expect to get quite a bit less as you would have last year.  You should also expect it to take a very long time to sell compared to last year.  If you want to sell your place in a reasonable amount of time you might need to consider taking a major discount to move it faster.

 

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