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

 Maynard MA Town Seal - Maynard Massachusetts Real Estate

Market Trends in Maynard, MA – October 2014 and 2015:

The Maynard, MA market has fallen off a little bit since last year.   The average prices were both down a bit as were the median prices as well.  The days on market are up quite a bit as well.  Inventory was stable with 10 sales in both October of 2014 and October 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Maynard, MA the average listing price in October 2014 was $392,770.  This was down a bit to $368,550 in October 2015.  This gives a noticeable decrease of 6.17% year over year. 

Looking at the median prices we see that it was a lot lower than the average in 2015 but higher in 2014.  For October of 2014 the median listing price for Maynard, MA was $399,450 and in October 2015 it was $354,450 which now gives a large decrease of 11.27%.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Maynard, MA in October of 2014 was $389,700 and in October 2015 that was down to $360,180.  That gives another pretty good 7.58% decrease. 

We see the same pattern with the median sale prices as we did for the listing prices for both years.  For October of 2014 the median sales price for Maynard, MA was $392,000 and in October 2015 it was $351,500 giving another larger decrease of 10.33%, compared to the average price.

Prices do look to be down for the Maynard, MA market in October.  We will tend to favor the median prices when there is a gap between what they say and what the averages say.  While the gap is not huge it is clear that the medians are saying things are down a few percentage points more.  Based off of that we would conclude that prices are probably down right around 10% for Maynard, MA.

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 Maynard, MA the average days on market in October of 2014 were 35.80 and the average days on market for October 2015 were 63.40 for a large 77.09% increase. 

Maynard, Mass Summary:

The Maynard, Massachusetts real estate market is down a good bit since last year.  The average and median prices were both down good amount.  The days on market were up quite a bit as well, further supporting a decline in the market. 

In summary if you are looking to sell a property in Maynard, MA now you should expect to get less for it than you would have gotten last year.  You should also probably expect it to take a lot more time to sell compared to last year too. 

 

Do you need to sell your Maynard, 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: Maynard MA Seal via Wikipedia)