Real Estate Trends – Canton, Massachusetts (Condos) #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 condo market in Canton, MA in Norfolk County

 Canton MA Viaduct - Canton Massachusetts Real Estate

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

The Canton, MA condo market has fallen off a bit since last year.   The average prices were down and the median prices were down as well.  The days on market are down a lot though.  Inventory was up some with 9 sales in August of 2015 up to 13 in August 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  For condos in Canton, MA the average listing price in August 2015 was $360,267.  This was down to $326,014 in August 2016.  This gives a very sizable decrease of 9.51% year over year. 

Looking at the median prices we see that it was lower higher both years.  For August of 2015 the median listing price for Canton, MA condos was $364,900 and in August 2016 it was $349,900 which now gives a smaller decrease of 4.11%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for condos in Canton, MA in August of 2015 was $355,867 and in August 2016 that was down to $323,055.  That gives another large decrease of 9.22%, a little bit lower 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 Canton, MA condos was $362,900 and in August 2016 it was $338,500 giving another smaller decrease of 6.72%, though bigger than the median list price.

Prices are definitely down some for condos in Canton, MA this month.  The range for all four metrics was not that large going from about a 4-9.5% decline.  The averages and the medians were telling different stories though.  The averages prices were both down about 9.5% down.  However the medians were a bit lower going from just over 4% to just under 7%.  Medians are the preferred method for looking at real estate prices so it is fair to say prices are down on the lower end of what we are seeing.  Since sales are much more important we would say prices are down about 7%. 

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 condos in Canton, MA the average days on market in August of 2015 were 70.22 and the average days on market for August 2016 were 40.38 giving a fairly sizable 42.50% decrease.

Canton, Massachusetts Summary:

The Canton, Massachusetts condo real estate market is down since last year.  The average prices were down a large amount while the median prices were down a little less.  The days on market were down a good amount though.

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

 

Do you need to sell your Canton, 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: Canton MA Viaduct via Town of Canton Website)

 

 Real Estate Trends – Franklin, 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 Franklin, MA in Norfolk County

 

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

The Franklin, MA condo market has fallen off a lot since last year.   The average prices are down and the median prices were down about as much.  The days on market look to be down a lot, though we will look at that closer.  Inventory was level with 13 sales in June of 2015 and 13 in June 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Franklin, MA the average listing price for a condo in June 2015 was $294,254.  This was down to $268,262 in June 2016.  This gives a modestly high decrease of 8.83% 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 Franklin, MA was $279,900 and in June 2016 it was $255,000 which now gives a very similar decrease of 8.90%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for a condo in Franklin, MA in June of 2015 was $290,825 and in June 2016 that was down to $268,139.  That gives another modestly high decrease of 7.80%, 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 Franklin, MA condo was $275,000 and in June 2016 it was $252,500 giving another fairly large decrease of 8.18%. 

Prices have gone down some for condos in Franklin, MA in June.  The overall range was pretty tight going from roughly 8-9% down.  The two listing metrics were both just under 9% while the two sale ones were just below and just above 8%.  Sales are more important than listing prices and medians are the more preferred method so giving the most weight to the median sales price the best guess is that prices are down a tad over 8%.  Though as stated there was not much variance so worst case is just 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 Franklin, MA condos the average days on market in June of 2015 were 127.69 and the average days on market for May 2016 were 48.69 for a pretty large 61.87% 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, 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 and Westport outliers in the data can really skew these numbers.  This again is the case for Franklin, MA in June.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 784 days on market; this was almost as much as the next 9 properties combined and just over 47% of the total days on market for all 13 Properties.  When removed the new calculation for the remaining 12 properties gives an average days on market of 73.0. 

Using the adjusted numbers we now get a much smaller decrease of 33.30%.  This does not change the basic conclusion that the days on market were down a sizable amount.  The only change is the magnitude of the change which is still large but a bit less dramatic than it originally looked.

Franklin, Massachusetts Summary:

The Franklin, Massachusetts condo real estate market is down a since last year.  The average prices were down some while the median prices were down about the same.  The days on market were down a good bit though, which does give some counterargument to the conclusion of a down market.

In summary if you are looking to sell a condo in Haverhill, 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 Franklin, 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: Main Street – Franklin MA by John Phelan via Wikipedia)

 

Real Estate Trends – Brookline, 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 Brookline, MA in Norfolk County

 Brookline MA Photo Collage - Brookline Massachusetts Real Estate

We last looked at Brookline, MA in January ending the data from 2015 (looked at single families as well as the Condo Market there that month).

Market Trends in Brookline, MA – May 2015 and 2016:

The Brookline, MA 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 down quite a bit though.  Inventory was up a small amount with 14 sales in May of 2015 all the way up to 16 in May 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Brookline, MA the average listing price in May 2015 was $2,167,921.  This was down to $1,810,312 in May 2016.  This gives a very sizable decrease of 16.50% year over year. 

Looking at the median prices we see that they were lower in both years.  For May of 2015 the median listing price for Brookline, MA was $1,924,500 and in May 2016 it was $1,699,000 which now gives a somewhat smaller decrease of 11.72%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Brookline, MA in May of 2015 was $2,138,446 and in May 2016 that was down to $1,804,938.  That gives another sizable decrease of 15.60%, but a little smaller than the average list price. 

We see the same pattern that we did for the median list price.  For May of 2015 the median sales price for Brookline, MA was $1,902,500 and in May 2016 it was $1,679,250 giving another large decrease of 11.73%, and almost exactly the same as the median list price. 

Prices have declined a bit for Brookline, MA in May.  The range was not that large going from just under 12% to 16.5%.  The averages were both on the high end of the range while the medians were on the lower side.  Since medians are considered the best method to use for real estate pricing analysis we are going to give them more weight and say that prices are down the 11.7% or so that both those numbers showed vs. the 15+% seen with the average numbers.

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 Brookline, MA the average days on market in May of 2015 were 80.79 and the average days on market for May 2016 were 40.50 for a pretty large 49.87% decrease.

Brookline, Massachusetts Summary:

The Brookline, Massachusetts real estate market is down a bit since last year.  The average prices were down quite a bit while the median prices were down almost as much.  The days on market were down a lot however.  While a little surprising and a very nice counterargument to a down market, ultimately being able to sell a house roughly 5 weeks faster does not really start to counteract 6 digit price declines.

In summary if you are looking to sell a house in Brookline, 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 Brookline, 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: Brookline MA Photo Collage 2 via Wikipedia)

 

Real Estate Trends – Stoughton, 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 Stoughton, MA in Norfolk County

 Stoughton MA Seal - Stoughton Massachusetts Real Estate

It has been a long time since we have looked at Stoughton, MA.  It was one of our earlier market reports we did back in December of 2014

Market Trends in Stoughton, MA – April 2015 and 2016:

The Stoughton, MA market has fallen off a bit since last year.   The average prices are down and the median prices were down quite a bit more.  The days on market were down however.  Inventory was up significantly, more than doubling, with 12 sales in April of 2015 up to 25 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Stoughton, MA the average listing price in April 2015 was $375,258.  This was down to $361,776 in April 2016.  This gives a fairly modest decrease of 3.59% year over year. 

Looking at the median prices we see that they were a bit higher in 2015 and a little lower in 2016.  For April of 2015 the median listing price for Stoughton, MA was $409,900 and in April 2016 it was $359,900 which now gives a much larger decrease of 12.20%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for Stoughton, MA in April of 2015 was $365,438 and in April 2016 that was down to $355,636.  That gives another small decrease of 2.68%, and slightly smaller than the average list price. 

We see the same pattern as we did for the median list price.  For April of 2015 the median sales price for Stoughton, MA was $399,925 and in April 2016 it was $350,000 giving another much larger decrease of 12.48%. 

Prices are down definitely down in Stoughton, MA this month.  However, the averages and the medians give a very different story on exactly how much of a change.  The averages are indicating a pretty small 2-4% type decrease where the Medians both show it to be a little over 12%, which is a pretty big difference.  Median prices are the preferred method for evaluating real estate pricing data and are probably giving the more accurate representation here.  So using the medians and giving a touch more weight to the median sale price we would say prices are down probably just a hair below 12.5%.

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 Stoughton, MA the average days on market in April of 2015 were 115.67 and the average days on market for April 2016 were 84.28 for a decent 27.14% decrease.

Stoughton, Massachusetts Summary:

The Stoughton, Massachusetts real estate market is down a bit since last year.  The average prices were down a little bit but the median prices were down a lot more.  The days on market were down though, which is a counter argument to the weakening market but overall do not really make up for the price drops we are seeing.

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

 

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

 

Real Estate Trends – Dedham, Massachusetts #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 once again highlighting the market in Dedham, MA in Norfolk County

 Map of Dedham MA - Dedham Massachusetts Real Estate

This is our 4th look at Dedham with the most recent back in December 2015

Market Trends in Dedham, MA – April 2015 and 2016:

The Dedham, MA market has fallen off since last year.   The average prices were down as were the median prices as well.  The days on market appear to be down a bit, however this maybe overstated.  Inventory was relatively stable with 19 sales in April of 2015 down to 17 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Dedham, MA the average listing price in April 2015 was $543,110.  This was down to $507,276 in April 2016.  This gives a decent decrease of 5.02% year over year. 

Looking at the median prices we see that it was lower in both years.  For April of 2015 the median listing price for Dedham, MA was $417,400 and in April 2016 it was $369,900 which now gives a much larger decrease of 11.38%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Dedham, MA in April of 2015 was $525,263 and in April 2016 that was down to $505,174.  That gives another modest decrease of 3.82%. 

We see the same pattern as we did for the median list price.  For April of 2015 the median sales price for Dedham, MA was $410,000 and in March 2016 it was $370,000 giving another larger decrease of 9.76%. 

Prices are down some in Dedham, MA this month.  The averages show only modest decreases from just under 4% to 5% but the medians indicate much more significant drops in the almost 10% to about 11.5%.  Since medians are the more widely used method for analyzing real estate pricing data we would say that these are much more indicative of what is going on.  However since the median listing price was at the bottom of the range best determination is that prices are probably down right around 10%.

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 Dedham, MA the average days on market in April of 2015 were 83.68 and the average days on market for April 2016 were 51.71 for a substantial 38.21% 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, 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) #2,   Somerset, Everett (Multifamily) and Sharon outliers in the data can really skew these numbers.  This again is the case for Dedham, MA in April.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 416 days on market; this was a lot more than the next 2 properties combined and over 26% of the total days on market for all 19 Properties.  When removed the new calculation for the remaining 18 properties gives an average days on market of 65.22. 

Using the adjusted numbers we now get a decrease of 20.71%.  This does not change the conclusion of the days on market being down by a fairly decent amount however the magnitude of the drop is definitely far less impressive. 

Dedham, Massachusetts Summary:

The Dedham, Massachusetts real estate market is down since last year.  The average prices were down a very modest amount but the median prices were down much more substantially.  The days on market were down a bit though. 

In summary if you are looking to sell a house in Dedham, 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 Dedham, 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: Map of Dedham Massachusetts via Google Maps)

 

Real Estate Trends – Milton, 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 Milton, MA in Norfolk County

 Milton MA Seal - Milton Massachusetts Real Estate

This is our 2nd look at Milton but it has been almost a year since we have looked at this town.

Market Trends in Milton, MA – April 2015 and 2016:

The Milton, MA market has fallen off significantly since last year.   The average prices were down substantially as were the median prices too.  The days on market were down a bit however.  Inventory was relatively stable with 14 sales in April of 2015 up to 16 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Milton, MA the average listing price in April 2015 was $823,050.  This was down to $635,344 in April 2016.  This gives a very large decrease of 22.81% year over year. 

Looking at the median prices we see that it was lower in both years.  For April of 2015 the median listing price for Milton, MA was $717,000 and in April 2016 it was $597,450 which now gives a smaller but still significant decrease of 16.67%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Milton, MA in April of 2015 was $817,950 and in April 2016 that was down to $635,344.  That gives another very large decrease of 22.32%, and almost identical compared to the average list price. 

We see the same pattern as we did for the median list price.  For April of 2015 the median sales price for Milton, MA was $753,000 and in March 2016 it was $600,000 giving another very large decrease of 20.32%. 

Prices are down significantly for Milton, MA in April.  The median list price was a bit under the range for everything else being a little under 17%, so we will not give very much weight to this measure.  The other 3 metrics had a range of about 20-23% for the decrease.  The median sale price was the lowest of these 3 though and since medians are more often used in these types of pricing analyses we would conclude price are most likely down close to the bottom of that range and are down just over 20%.

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 Milton, MA the average days on market in April of 2015 were 70.50 and the average days on market for April 2016 were 42.81 for a substantial 39.28% decrease.

Milton, Massachusetts Summary:

The Milton, Massachusetts real estate market is down substantially since last year.  The average prices were down a very significant amount while the median listing prices were down almost as much.  The days on market were down a good bit though, but not nearly enough to start to compensate for the sizable price drops. 

In summary if you are looking to sell a house in Milton, MA now you should expect to get much 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 Milton, 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 Milton Massachusetts via Wikipedia)

 

Real Estate Trends – Sharon, 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 Money Magazine’s #1 place to live in 2013, Sharon, MA in Norfolk County

Sharon MA Town Center - Sharon Massachusetts Real Estate  

Market Trends in Sharon, MA – March 2015 and 2016:

The Sharon, MA market has fallen off since last year.   The average prices were down a bit and the median prices were down as well.  The days on market appear to be up a lot at first glance; however this needs to be looked into deeper.  Inventory was down just a little with 13 sales in March of 2015 and 11 in March 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Sharon, MA the average listing price in March 2015 was $614,969.  This was down to $489,263 in March 2016.  This gives a huge decrease of 20.44% year over year. 

Looking at the median prices we see that it was higher in both years.  For March of 2015 the median listing price for Sharon, MA was $539,900 and in March 2016 it was $468,000 which now gives a decrease of 13.32%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Sharon, MA in March of 2015 was $597,692 and in March 2016 that was down to $484,227.  That gives another very high decrease of 18.98%. 

We see the same pattern we did with the listing prices here for the median sale prices.  For March of 2015 the median sales price for Sharon, MA was $525,000 and in March 2016 it was $468,000 giving another sizable decrease of 10.86%. 

All the metrics show prices are down in Sharon, MA this month.  The overall range is fairly big though going from roughly 10.5-20.5%.  The median prices are generally favored or averages when analyzing real estate prices, we see that those were the lower numbers with their range being like 10.5-13.5%.  Also given that the median sale price was actually the lowest drop the best estimate is that prices are probably right at the bottom of the range with a drop just under 11%.  While still a significant drop this is relatively good news for a seller since some of the other indicators had prices down almost double this.

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 Sharon, MA the average days on market in March of 2015 were 80.54 and the average days on market for March 2016 were 109.45 for a sizeable 35.90% increase. 

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) #2,   Somerset and Everett (Multifamily) outliers in the data can really skew these numbers.  This again is the case for Sharon, MA in March.  In this instance there was a very high days on market places in both years.

In 2015 there was a property with 252 days on market; this was almost as much as the next 2 properties combined and over 24% of the total days on market for all 13 Properties.  When removed the new calculation for the remaining 12 properties gives an average days on market of 66.25. 

In 2016 there was a property with 337 days on market; this was more than the next 2 properties combined and almost 28% of the total days on market for all 11 Properties.  When removed the new calculation for the remaining 10 properties gives an average days on market of 86.70. 

Using the adjusted numbers we now get an increase of 30.87%.  This does not change the conclusion of the days on market being increased by a fairly significant amount as using the adjusted numbers did not change the fact they were up and only decreased the magnitude by a fairly small amount. 

Sharon, Massachusetts Summary:

The Sharon, Massachusetts real estate market is down since last year.  The average prices were down quite a lot while the median prices were down a good amount as well.  The days on market were also up a lot though which further supports the argument to a down market.

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

 

Do you need to sell your Sharon, 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: Sharon MA Town Center by Marcbela via Wikipedia)

 

Real Estate Trends – Needham, 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 once again highlighting the market in Needham, MA in Norfolk County

 Needham MA Town Seal - Needham Massachusetts Real Estate

We first looked at Needham last summer when we saw the market was down noticeably while still being a very high end market.

Market Trends in Needham, MA – February 2015 and 2016:

The Needham, MA market has fallen off significantly since last year.   The average prices were down a lot and the median prices were down even more.  However the days on market appear to be down a lot though, however that might be overstated.  Inventory was fairly stable going from 13 sales in February of 2015 to 12 in February 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Needham, MA the average listing price in February 2015 was $1,341,992.  This was down to $1,089,556 in February 2016.  This gives a very large decrease of 18.81% year over year. 

Looking at the median prices we see that it was lower in both years.  For February of 2015 the median listing price for Needham, MA was $1,319,900 and in February 2016 it was $999,000 which gives an even larger decrease of 24.31%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Needham, MA in February of 2015 was $1,285,635 and in February 2016 that was down to $1,049,983.  That gives a very similar 18.33% decrease compared to the average list price. 

We see a slightly different pattern with the median sale prices as we did for the listing prices.  It was still lower for 2016 but in 2015 it was actually a tiny bit higher than the average.  For February of 2015 the median sales price for Needham, MA was $1,300,000 and in January 2016 it was $949,500 giving the largest decrease we have seen at 26.96%. 

Everything we looked at points to prices being down significantly in Needham, MA this month.  However there is a pretty wide gap in the range of the drop.  The two average pricing metrics were pretty tight and show a drop of about 18.5%.  While very significant that is much smaller than the roughly 24-27% drop indicated by the medians.  Since medians are the more favored way to analyze this type of data that is the more realistic range, and since the median sale price was down the most the prices are most likely down at the top of that range as well.

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 Needham, MA the average days on market in February of 2015 were 186.92 and the average days on market for February 2016 were 110.08 for a pretty sizable 41.11% 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, Raynham, Holliston, Londonderry, NH, Georgetown and South Boston (Condos) outliers in the data can really skew these numbers.  This again is the case for Needham, MA in February.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 936 days on market; this was much more than the next 3 properties combined and over 38.5% of the total days on market for all 13 Properties.  When removed the new calculation for the remaining 12 properties gives an average days on market of 124.5. 

Using the adjusted numbers we now get a much smaller decrease of 11.58%.  This does not change the general conclusion of the days on market being down.  However instead of a fairly significant drop the days on market now appear to have fallen a fairly small amount.  It is worth noting that even with a decrease the days on market are still very high and would be considered quite bad both years.

Needham, Massachusetts Summary:

The Needham, 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 were down a little though, which is nice for a seller but does not make up for prices that are down that much. 

In summary if you are looking to sell a house in Needham, 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 Needham, 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: Needham MA Seal via Wikipedia)

 

Real Estate Trends – Medfield, 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 Medfield, MA in Norfolk County

 Medfield MA Town Seal - Medfield Massachusetts Real Estate

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

The Medfield, MA market has fallen off a bit since last year.   The average prices were both down a lot while the median prices were down significantly as well.  The days on market were also up substantially.  Inventory was stable with 9 sales in January of 2015 and 9 also in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Medfield, MA the average listing price in January 2015 was $661,133.  This was down to $580,400 in January 2016.  This gives a fairly sizable decrease of 12.21% year over year. 

Looking at the median prices we see that they were a bit larger in both years.  For January of 2015 the median listing price for Medfield, MA was $665,000 and in January 2016 it was $599,000 which gives a slightly smaller decrease of 9.92%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Medfield, MA in January of 2015 was $655,233 and in January 2016 that was down to $580,222.  That gives another large decrease of 11.45% year over year. 

We see the same basic pattern with the median sale prices as we did for the listing prices.  For January of 2015 the median sales price for Medfield, MA was $680,000 and in January 2016 it was $592,000 giving another large decrease of 12.94%, and the largest of all the metrics we looked at. 

All our metrics show that prices are down for Medfield, MA in January.  Overall the range is not that big showing decrease of roughly 10-13%.  However aside from the median list price the rest are in the top half of the range.  Since sales are the most important indicator and the fact that the median sales price is usually considered the most important indicator prices are likely down much closer to the 13% mark.

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 Medfield, MA the average days on market in January of 2015 were 68.56 and the average days on market for January 2016 were 113.78 for a very large 65.96% increase. 

Medfield, Mass Summary:

The Medfield, Massachusetts real estate market is down some from last year.  The average prices were down and median prices were down quite a bit as well.  The days on market are also up significantly which further supports the observation of the market being down.

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

 

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

 

Real Estate Trends – Norwood, 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 Norwood, MA in Norfolk County

 Hartshorn Market c.1920 in Norwood MA - Norwood Massachusetts Real Estate

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

The Norwood, MA market has fallen off significantly since last year.   The average prices were both down a lot while the median prices were down significantly as well.  The days on market however are down a little.  Inventory was pretty stable only going up from 12 sales in January of 2015 to 13 in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Norwood, MA the average listing price in January 2015 was $432,842.  This was down to $399,862 in January 2016.  This gives a fairly sizable decrease of 7.62% year over year. 

Looking at the median prices we see that they were a bit smaller in both years.  For January of 2015 the median listing price for Norwood, MA was $429,900 and in January 2016 it was $385,000 which gives a larger decrease of 10.44%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Norwood, MA in January of 2015 was $425,100 and in January 2016 that was down to $384,377.  That gives a larger 9.58% decrease compared to the average list price. 

We see the same basic pattern with the median sale prices as we did for the listing prices.  For January of 2015 the median sales price for Norwood, MA was $424,900 and in January 2016 it was $365,000 giving another large decrease of 14.10%, and the largest of all the items we looked at. 

All our metrics show that prices are down a good amount year over year for Norwood, MA in January.  Medians are generally favored over averages and sales are clearly much more important that listing prices we will give the least weight to the average listing price and the most to the median sale price.  Using that logic we will pretty much disregard the by far lowest decrease seen with the average listing price.  The median listing and average sale price were both similar around a 10% decline so no need to decide which is more useful.  However, since the median sale price is probably the single most important one and that being down just over 14% would indicate that those other things might be understating things.  Our conclusion would be that prices are down a minimum of around 10% but likely are down a bit more in that 14% range indicated by the median sales prices.

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 Norwood, MA the average days on market in January of 2015 were 65.83 and the average days on market for January 2016 were 54.15 for a pretty small 17.74% decrease. 

Norwood, Mass Summary:

The Norwood, Massachusetts real estate market is down some from last year.  The average prices were down and median prices were down quite a bit more as well.  The days on market are down a little, but not nearly enough to counteract the large prices drops.

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

 

Do you need to sell your Norwood, 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: Hartshorn Market c.1920 via Wikipedia)