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

 Hopkinton MA Town Hall - Hopkinton Massachusetts Real Estate

Market Trends in Hopkinton, MA – August 2015 and 2016:

The Hopkinton, MA market has flattened out and maybe fallen off a bit since last year.   The average prices were down a lot but the median prices were down a very small amount.  The days on market appear to be down a lot, but that seems to be greatly overstated.  Inventory was up some with 31 sales in August of 2015 up to 39 in August 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Hopkinton, MA the average listing price in August 2015 was $743,041.  This was down to $628,423 in August 2016.  This gives a very large decrease of 15.43% year over year. 

Looking at the median prices we see that it was lower in 2015 but higher in 2016.  For August of 2015 the median listing price for Hopkinton, MA was $659,000 and in August 2016 it was $667,815 which now actually gives a small increase of 1.34%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price in Hopkinton, MA in August of 2015 was $745,155 and in August 2016 that was down to $616,707.  That gives another large decrease of 17.24%, a bit higher than the average list price. 

We see the same pattern as we did for the median list price.  For August of 2015 the median sales price for Hopkinton, MA was $662,219 and in August 2016 it was $655,985 giving a miniscule decrease of 0.94%.

Prices are definitely a bit inconsistent for Hopkinton, MA this month.  The range for all four metrics was fairly large going from about a 1% increase down to a 17% decline.  The averages and the medians were telling totally different stories though.  The averages had prices down over 15% to over 17% down.  However the medians had the market as pretty much flat with the listings actually up just over 1% while the median sale price was down not even 1%.  The good news for sellers is that median prices are the preferred method to evaluate real estate prices so that is where most of the weight will end up.  Since the sales are more important we will conclude that prices are down but not by very much.  Best guess would be to go with being pretty flat with prices down around 1%.  However it might be higher than this.  While the averages should get a lot less weight looking at the raw data it is clear that while the middle of the market stayed pretty much the same the extremes definitely did not stay static.  In this case we see why the average went down so much because the top 3 sales were in 2015 and the lowest 6, as well as the lowest 12 of 14, were in 2016.  So while prices might be mostly stable now it could be on the cusp of having more issues if the market keeps shifting towards the lower price demographics.

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 Hopkinton, MA the average days on market in August of 2015 were 120.03 and the average days on market for August 2016 were 74.18 giving a fairly sizable 38.20% decrease.

However as we have seen many times in the past there can be a large days on market property in one year that highly skews the overall numbers.  In this case there was such a property in 2015.

In 2015 there was a property with 1415 days on market; this was more than the next 7 properties combined and over 38% of the total days on market for all 31 Properties.  When removed the new calculation for the remaining 30 properties gives an average days on market of 76.87.

 Using the adjusted numbers we now get a small increase of 3.63%.  Totally changes the conclusion that days on market were down substantially while now they are essentially flat.

Hopkinton, Massachusetts Summary:

The Hopkinton, Massachusetts real estate market is down a little since last year.  The average prices were down a large amount while the median sales price was pretty much flat with just a tiny downtick.  The days on market were also pretty flat.

In summary if you are looking to sell a house in Hopkinton, MA now you should expect to get about the same or maybe a little less for it than you would have gotten last year.  You can also expect it to take about the same amount of time to sell compared to last year as well. 

 

Do you need to sell your Hopkinton, 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: Hopkinton MA Town Hall by Pvmoutside via Wikipedia)

 

Real Estate Trends – Dover, Massachusetts #2

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 Dover, MA in Middlesex County

 Dover MA Soldiers' Memorial - Dover Massachusetts Real Estate

We have first looked at Dover a couple months ago back in January of 2016.

Market Trends in Dover, MA – July 2015 and 2016:

The Dover, MA market has fallen off some since last year.   The average prices were down a lot and the median prices were down almost as much.  The days on market were down a pretty sizable amount though.  Inventory was pretty stable with 35 sales in July of 2015 up to 37 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Dover, MA the average listing price in July 2015 was $1,329,973.  This was down to $1,107,112 in July 2016.  This gives a very large decrease of 16.76% year over year. 

Looking at the median prices we see that it was higher in both years.  For July of 2015 the median listing price for Dover, MA was $1,330,000 and in July 2016 it was $1,099,000 which now gives a larger decrease of 17.36%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Dover, MA in July of 2015 was $1,285,704 and in July 2016 that was down to $1,061,685.  That gives another large decrease of 17.42%, a bit higher than the average list price. 

We see a different pattern as we did for the median list price.  In this case it was still lower in 2016 but now is higher in 2015.  For July of 2015 the median sales price for Easton, MA was $1,225,000 and in July 2016 it was $1,052,000 giving another large decrease of 14.12%.

Prices are down for Dover, MA this month.  The range for all four metrics was pretty small going from about 14-17.5%.  There was a much tighter range with 3 of the metrics all being within 1% at the top of the range.  However these were the 2 average prices and the median listing price.  While we like to look at these and they all have some merit the most important single number is almost always the median list price.  So the good news for those concerned about these price drops is that this was the lowest number at just over 14%.  While that is still a big drop it is a little better than what is indicated with the other 3 metrics. 

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 Dover, MA the average days on market in July of 2015 were 152.33 and the average days on market for July 2016 were 83.71 giving a sizable 45.05% decrease.

Dover, Massachusetts Summary:

The Dover, Massachusetts real estate market is down some since last year.  The average prices were down a large amount however the median sales price was down a lot too, but a tad less.  The days on market were down a bit though, a small counter argument against a decline in the market.

In summary if you are looking to sell a house in Dover, MA now you should expect to get less for it than you would have gotten last year.  You can also expect it to take a bit less time to sell compared to last year as well. 

 

Do you need to sell your Dover, 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: Dover MA Soldiers’ Monument via Wikipedia)

 

Real Estate Trends – Acton, Massachusetts #3

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 Acton, MA in Middlesex County

 Acton MA Town Seal - Acton Massachusetts Real Estate

We have looked at Acton a couple times in the past but not since May of 2015 so it has been awhile!

Market Trends in Acton, MA – July 2015 and 2016:

The Acton, MA market has fallen off some since last year.   The average prices were down somewhat and the median prices were down more so.  The days on market were up some a little bit as well.  Inventory was pretty stable with 35 sales in July of 2015 up to 37 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Acton, MA the average listing price in July 2015 was $668,921.  This was down to $664,632 in July 2016.  This gives a trivial decrease of 0.64% year over year. 

Looking at the median prices we see that it was lower in both years.  For July of 2015 the median listing price for Acton, MA was $665,655 and in July 2016 it was $600,000 which now gives a much larger decrease of 9.86%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Acton, MA in July of 2015 was $671,804 and in July 2016 that was down to $658,238.  That gives another small decrease of 2.02%, though a bit higher than the average list price. 

We see a different pattern as we did for the median list price.  In this case it was still lower in 2016 but now is higher in 2015.  For July of 2015 the median sales price for Acton, MA was $678,000 and in July 2016 it was $605,000 giving another much smaller decrease of 10.77%.

Prices are down for Acton, MA this month.  The range for all four metrics was pretty large going from about 0.5-11%.  The averages were much lower than the medians at only about 0.5-2%.  The medians were much higher at about 10-11%.  Medians are the preferred real estate pricing analysis method so it is reasonable to go with that higher range.  That range is not that big but since sales are far more important than just listing prices the largest overall decrease was seen in the median sale price therefore the best guess is that prices are down right at the top of the range at just under 11%.

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 Acton, MA the average days on market in July of 2015 were 41.11 and the average days on market for July 2016 were 46.41 giving a modest 12.89% increase.

Acton, Massachusetts Summary:

The Acton, Massachusetts real estate market is down some since last year.  The average prices were down a very small amount however the median prices were down a much larger amount.  The days on market were up a little bit as well, further supporting some decline in the market.

In summary if you are looking to sell a house in Acton, MA now you should expect to get less for it than you would have gotten last year.  You can also expect it to take a little more time to sell compared to last year as well. 

 

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

 

Real Estate Trends – Ashland, Massachusetts #2

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 Ashland, MA in Middlesex County

Stone's Public House in Ashland MA - Ashland Massachusetts Real Estate  

As mentioned when we did our first article on Ashland back in April of 2015 that Ashland is a special place for Shaun as it is where he got married.  In that article the featured image was of the Warren Center where the ceremony was and today’s is of Stone’s Public House where the rehearsal dinner was held.

Market Trends in Ashland, MA – July 2015 and 2016:

The Ashland, MA market has fallen off since last year.   The average prices were down some and the median prices were down even.  The days on market were down some.  Inventory was down some with 18 sales in July of 2015 down to 12 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Ashland, MA the average listing price in July 2015 was $451,494.  This was down to $432,167 in July 2016.  This gives a modest decrease of 4.28% year over year. 

Looking at the median prices we see that it was marginally higher in 2015 but lower in 2016.  For July of 2015 the median listing price for Ashland, MA was $454,900 and in July 2016 it was $384,949.50 which now gives a much larger decrease of 15.38%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Ashland, MA in July of 2015 was $456,450 and in July 2016 that was down to $430,450.  That gives another modest decrease of 5.70%, a little higher than the average list price. 

We see the same pattern as we did for the median list price.  For July of 2015 the median sales price for Ashland, MA was $459,250 and in July 2016 it was $405,000 giving another much smaller decrease of 11.81%.

Prices are down some for Ashland, MA this month.  The range for all four metrics was pretty large going from a little over 4-15%.  The averages were much lower than the medians at only about 4-6%.  The medians were much higher at about 12-15%.  Medians are the preferred real estate pricing analysis method so it is reasonable to go with that higher range.  However since sales are much more important than listing prices we would say that prices will be down at the lower end of the range at just a little less than 12%.

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 Ashland, MA the average days on market in July of 2015 were 38.72 and the average days on market for July 2016 were 28.58 giving a modest 26.19% decrease.

Ashland, Massachusetts Summary:

The Ashland, Massachusetts real estate market is down some since last year.  The average prices were down and the median prices were down a much larger amount.  The days on market were down a little bit though.

In summary if you are looking to sell a house in Ashland, MA now you should expect to get less for it than you would have gotten last year.  Though you can also expect it to take less time to sell compared to last year as well. 

 

Do you need to sell your Ashland, 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: Stone’s Public House in Ashland MA via Wikipedia)

 

Real Estate Trends – Chelmsford, Massachusetts (Condos)

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 Condo market in Chelmsford, MA in Middlesex County

 Old Chelmsford MA Town Hall - Chelmsford Massachusetts Real Estate

Market Trends in Chelmsford, MA – July 2015 and 2016:

The Chelmsford, MA condo market has fallen off since last year.   The average prices are down and the median prices were down as well.  The days on market were pretty flat, though there are issues with these numbers.  Inventory was up a little with 16 sales in July of 2015 up to 20 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Chelmsford, MA the average listing price for a condo in July 2015 was $269,275.  This was down to $225,560 in July 2016.  This gives a sizable decrease of 16.23% year over year. 

Looking at the median prices we see that they were lower in 2015 and higher in 2016.  For July of 2015 the median listing price for condos in Chelmsford, MA was $234,950 and in July 2016 it was $234,900 which is totally flat with an amusingly small decrease of 0.02%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for a condo in Chelmsford, MA in July of 2015 was $267,231 and in July 2016 that was down to $223,070.  That gives another substantial decrease of 16.53%, and slightly higher than we saw for the average list price. 

We see the same pattern that we did for the median list price.  For July of 2015 the median sales price for a Chelmsford, MA condo was $244,750 and in July 2016 it was $229,500 giving a modest decrease of 6.23%. 

Prices have gone down some for condos in Chelmsford, MA in July.  The overall range was pretty large going from roughly 0-16.5% down.  The two average metrics were both very close and significantly higher than the median prices.  Since medians are the favored metric generally when evaluating real estate prices so we will give a lot less weight to those two figures.  Looking at the medians we see the only metric saying prices are not down is the median list price, which is far less important than the sales prices so we will also discount that as well.  Therefore the little bit over 6% declines we see with the median sale price is the best guess overall as to the level of the price drop.  However, given that the average sale price was the biggest overall drop and much higher I would suspect it might be heading in a more negative direction.

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 Chelmsford, MA condos the average days on market in July of 2015 were 65.81 and the average days on market for July 2016 were 63.50 for a flat change of a almost meaningless decrease of 3.51%.

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, Raynham, Holliston, Londonderry, NH, Georgetown, South Boston (Condos), Needham #2, Arlington #2, Foxboro #2, Boston’s Roslindale (Condos), Burlington #2, Salem NH #2, Boston’s South End (Condos) #2Somerset, Everett (Multifamily), Sharon, Dedham #4, Boston’s Brighton (Condos), Winthrop (Condos), Littleton #2, Ipswich, Westport, Franklin (Condos), Groveland, Boston’s Fenway (Condos) #2 and Windham, NH #3 outliers in the data can really skew these numbers.  This again is the case for Chelmsford, MA condos in July.  In this instance there was a very high days on market place in both years.

In 2015 there was a property with 360 days on market; this was more than the next 4 properties combined and more than 34% of the total days on market for all 16 Properties.  When removed the new calculation for the remaining 15 properties gives an average days on market of 46.20. 

In 2016 there was a property with 352 days on market; this was more than the next 3 properties combined and almost 28% of the total days on market for all 20 Properties.  When removed the new calculation for the remaining 19 properties gives an average days on market of 48.32. 

Using the adjusted numbers we now get a small increase of 4.49%.  This barely changes the conclusion that the days on market were pretty much flat.  At first it looked like there were flat with a very small decrease but now they still look to be mostly flat but there was a slight decrease.

Chelmsford, Massachusetts Summary:

The Chelmsford, Massachusetts condo real estate market is down since last year.  The average prices were down a good amount while the median prices were down a little bit as well.  The days on market were pretty much flat with just a miniscule decrease.

In summary if you are looking to sell a condo in Chelmsford, MA now you should expect to get less for it than you would have gotten last year.  You should also expect it to take about the same to sell compared to last year as well. 

 

Do you need to sell your Chelmsford, Massachusetts Condo 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: Old Town Hall – Chelmsford MA by John Phelan via Wikipedia)

 

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

 Dunstable, MA Town Hall - Dunstable MA Real Estate

Market Trends in Dunstable, MA – June 2015 and 2016:

The Dunstable, MA market has fallen off significantly since last year.   The average prices were down significantly and the median prices were down quite a bit as well.  The days on market were up a little bit as well.  Inventory was down a little with 8 sales in June of 2015 down to 6 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Dunstable, MA the average listing price in June 2015 was $584,513.  This was down to $403,267 in June 2016.  This gives a massive decrease of 31.01% year over year. 

Looking at the median prices we see that it was higher in 2016 and lower in 2015.  For June of 2015 the median listing price for Dunstable, MA was $522,450 and in June 2016 it was $414,900 which now gives a smaller but still very significant decrease of 20.59%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Dunstable, MA in June of 2015 was $553,594 and in June 2016 that was down to $400,567.  That gives another very sizeable decrease of 27.64%, not quite as high as the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Dunstable, MA was $501,250 and in June 2016 it was $414,000 giving another big decrease of 17.41%.

Prices have gone down some for Dunstable, MA this month.  The range for all four metrics was pretty large only going from roughly 17.5-31%.  The averages were a bit higher than the medians with those ranging from about 27.5-31%.  The medians were a bit lower going from about 17.5-20.5%.  Since medians are the much more commonly used method prices are probably down much more on the lower side of that range.  Overall the median sale price is the most preferred number to use in these types of evaluations.  So best guess is that they are downright near the bottom of the range at a little under 18%, possibly a little more since all the other measures were significantly higher.

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 Dunstable, MA the average days on market in June of 2015 were 126.88 and the average days on market for June 2016 were 137.00 giving a small 7.98% increase.

Dunstable, Massachusetts Summary:

The Dunstable, Massachusetts real estate market is down a lot since last year.  The average prices were down significantly and the median prices were down substantially as well.  The days on market were up a small amount as well which gives some additional support to a down market.

In summary if you are looking to sell a house in Dunstable, MA now you should expect to get a lot less for it than you would have gotten last year.  You could also expect it to possibly take a little more time to sell compared to last year as well. 

 

Do you need to sell your Dunstable, 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: Dunstable MA Town Hall by John Phelan via Wikipedia)

 

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

 Town Seal of Ayer MA - Ayer Massachusetts Real Estate

Market Trends in Ayer, MA – June 2015 and 2016:

The Ayer, MA market has fallen off substantially since last year.   The average prices were down significantly and the median prices were down quite a bit more.  The days on market were down significantly though.  Inventory was down a lot getting cut in half with 16 sales in June of 2015 down to 8 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Ayer, MA the average listing price in June 2015 was $360,319.  This was down to $297,825 in June 2016.  This gives a very large decrease of 17.34% year over year. 

Looking at the median prices we see that it was higher in 2015 and lower in 2016.  For June of 2015 the median listing price for Ayer, MA was $392,900 and in June 2016 it was $254,950 which now gives a much larger decrease of 35.11%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Ayer, MA in June of 2015 was $358,538 and in June 2016 that was down to $301,375.  That gives another very sizeable decrease of 15.94%, not quite as high as the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Ayer, MA was $395,400 and in June 2016 it was $267,500 giving another humongous decrease of 32.35%.

Prices have gone down significantly for Ayer, MA in June.  The range for all four metrics was very large going from roughly 16-35%.  The averages were a bit lower than the medians with drops of “only” 16-17.5%.  Medians are the favored method of evaluating real estate pricing.  Those were down substantially more than the averages going from about 32-35%.  This is the more likely range of the price drops this month.  Since sales are far more important than listing prices the minor silver lining is that best guess would have prices down at the bottom of the range at a little over 32%.

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 Ayer, MA the average days on market in June of 2015 were 109.13 and the average days on market for June 2016 were 58.50 giving a large 46.39% decrease.

Ayer, Massachusetts Summary:

The Ayer, Massachusetts real estate market is down a lot since last year.  The average prices were down significantly and the median prices were down substantially more so.  The days on market were actually down a lot which is a counter argument to the down market.  However the days on market are pretty volatile and even with a big drop the huge price drops more than negate this.

In summary if you are looking to sell a house in Ayer, MA now you should expect to get a lot less for it than you would have gotten last year.  However you could also expect it to possibly take a lot less time to sell compared to last year as well. 

 

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

 

Real Estate Trends – Dracut, Massachusetts (Condos) #4

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 Condo market in Dracut, MA in Middlesex County

 

This is the 4th time we have looked at condos in Dracut with the most recent one being back in February.

Market Trends in Dracut, MA – June 2015 and 2016:

The Dracut, MA condo market has fallen off a lot since last year.   The average prices are down and the median prices were down more.  The days on market were pretty flat.  Inventory was level with 21 sales in June of 2015 and also in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Dracut, MA the average listing price for a condo in June 2015 was $186,063.  This was down to $176,810 in June 2016.  This gives a modest decrease of 4.97% year over year. 

Looking at the median prices we see that they were lower in both years.  For June of 2015 the median listing price for condos in Dracut, MA was $179,900 and in June 2016 it was $159,900 which now gives a much larger decrease of 11.12%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for a condo in Dracut, MA in June of 2015 was $184,896 and in June 2016 that was down to $177,062.  That gives another modest decrease of 4.24%, though slightly lower than we saw for the average list price. 

We see the same pattern that we did for the median list price.  For June of 2015 the median sales price for a Dracut, MA condo was $179,900 and in June 2016 it was $164,000 giving another larger decrease of 8.84%. 

Prices have gone down some for condos in Dracut, MA in June.  The overall range was pretty large going from roughly 4-11% down.  The two average metrics were both 4-5% while the two median ones were a bit higher going from just under 9% to just under 11%.  Medians are the preferred metric for real estate pricing analysis.  So prices are more likely down on that higher side.  Sales are far more important than listing prices so they are not likely really down as much as that 11% number but more like the median sale price of a little under 9%.

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 Dracut, MA condos the average days on market in June of 2015 were 45.24 and the average days on market for June 2016 were 45.38 for a flat change of just a 0.31% increase.

Dracut, Massachusetts Summary:

The Dracut, Massachusetts condo real estate market is down a since last year.  The average prices were down some while the median prices were down a bit more.  The days on market were pretty much flat with just a miniscule increase.

In summary if you are looking to sell a condo in Dracut, MA now you should expect to get less for it than you would have gotten last year.  However you could also expect it to take a lot less time to sell compared to last year as well. 

 

Do you need to sell your Dracut, Massachusetts Condo 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: Old Yellow Meeting House (UCC Church) – Dracut MA by John Phelan via Wikipedia)

 

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

 

Market Trends in Stow, MA – June 2015 and 2016:

The Stow, MA market has fallen off since last year.   The average prices were down and the median prices were down quite a bit more.  The days on market were up a bit as well.  Inventory was up some with 9 sales in June of 2015 up to 12 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Stow, MA the average listing price in June 2015 was $616,663.  This was down to $501,033 in June 2016.  This gives a very large decrease of 18.75% year over year. 

Looking at the median prices we see that it was lower in 2016 but a bit higher in 2015.  For June of 2015 the median listing price for Stow, MA was $639,900 and in June 2016 it was $449,950 which now gives an even more massive decrease of 29.68%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Stow, MA in June of 2015 was $606,089 and in June 2016 that was down to $492,533.  That gives another large decrease of 18.74%, and almost identical to that of the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Stow, MA was $625,000 and in June 2016 it was $459,950 giving a decrease of 26.41%, again giving a substantially larger drop than seen with the average prices.

Prices have gone down significantly for Stow, MA this month.  The overall range was quite large going from roughly 19-30%.  The averages were almost identical at about 18.75% down.  The medians are usually the method of choice for real estate and those were much larger drops showing drops in the high 20s.  Since sales are far more important the best guess decrease is probably just north of 26% and not quite as high as the roughly 30% seen with the highest metric.

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 Stow, MA the average days on market in June of 2015 were 28.00 and the average days on market for June 2016 were 43.92 giving a fairly large 56.86% increase.

Stow, Massachusetts Summary:

The Stow, Massachusetts real estate market is way down since last year.  The average prices were down a lot and the median sale prices were down significantly more.  The days on market were up a good amount as well which gives some additional support to a down market.

In summary if you are looking to sell a house in Stow, MA now you should expect to get a lot less for it than you would have gotten last year.  You could also expect it to take more time to sell compared to last year as well.

 

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

 

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

 

Market Trends in Winchester, MA – June 2015 and 2016:

The Winchester, MA market has fallen off since last year.   The pricing metrics were a bit all over the place though looking at the sales data average prices were down and the median prices were down more.  The days on market down a little.  Inventory was down a lot with 45 sales in June of 2015 down to 31 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Winchester, MA the average listing price in June 2015 was $1,189,642.  This was down to $1,111,955 in June 2016.  This gives a modest decrease of 6.53% year over year. 

Looking at the median prices we see that it was lower in both 2015 and 2016.  For June of 2015 the median listing price for Winchester, MA was $999,999 and in June 2016 it was $959,000 which now gives a smaller decrease of 4.10%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Winchester, MA in June of 2015 was $1,171,472 and in June 2016 that was down to $1,113,097.  That gives another modest decrease of 4.98%, a bit smaller than the average list price. 

We see the same pattern as we did for the median list price.  For June of 2015 the median sales price for Winchester, MA was $1,090,000 and in June 2016 it was $992,500 giving a much larger decrease of 8.94%, and the highest of all our metrics.

Prices have gone down some for Winchester, MA for June.  The overall range was fairly small only going from 4-9%, though that ~5% spread does represent a change of more than double from lowest to highest.  There also is no real pattern between averages and medians or listing prices vs. sale prices.  Since medians are the more generally used method to evaluate this type of data and since sales are far more important than listing prices we would give the median sale price the highest weight and based on that the best guess is that prices are down close to 9%, however since the other 3 items were all a bit less this might be slightly ambitious.

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 Winchester, MA the average days on market in June of 2015 were 62.13 and the average days on market for June 2016 were 66.03 giving a very small 6.28% increase, which is pretty flat.

Winchester, Massachusetts Summary:

The Winchester, Massachusetts real estate market is down since last year.  The average prices were down and the median sale price was down even more than any of the others.  The days on market were up a small amount which gives a little additional support to a down market.

In summary if you are looking to sell a house in Winchester, MA now you should expect to get less for it than you would have gotten last year.  You could also expect it to take about the same amount of time or just a little more time to sell compared to last year. 

 

Do you need to sell your Winchester, 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: Winchester MA Town Hall by Joseph Barillari via Wikipedia)