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

 Ned Point Lighthouse in Mattapoisett MA, Mattapoisett Massachusetts Real Estate

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

The Mattapoisett, MA market has fallen off a bit since last year.   The average prices were down a lot and the median prices were down even more.  The days on market appear to be up but that might be deceptive.  Inventory was pretty stable with 9 sales in July of 2015 up to 10 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Mattapoisett, MA the average listing price in July 2015 was $474,878.  This was down to $423,070 in July 2016.  This gives a very large decrease of 10.91% 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 Mattapoisett, MA was $449,000 and in July 2016 it was $364,900 which now gives a larger decrease of 18.73%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Mattapoisett, MA in July of 2015 was $481,100 and in July 2016 that was down to $409,600.  That gives another large decrease of 14.86%, a bit 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 Mattapoisett, MA was $433,000 and in July 2016 it was $361,000 giving another large decrease of 16.63%.

Prices are down for Mattapoisett, MA this month.  The range for all four metrics was fairly large going from about 11-19%.  The least important is the average listing price and will was a bit less than the others, dropping that the range is a bit higher being closer to 15-19%.  In the middle of the range is the median sale price, which is generally considered the most important.  Since that one was right in the middle our best guess is that prices are down in the middle of that range at just under 17%.

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 Mattapoisett, MA the average days on market in July of 2015 were 121.33 and the average days on market for July 2016 were 91.30 giving a fairly sizable 24.75% 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 641 days on market; this was more than the other 8 properties combined and almost 59% of the total days on market for all 9 Properties.  When removed the new calculation for the remaining 8 properties gives an average days on market of 56.38.

 Using the adjusted numbers we now get a large increase of 61.94%.  Totally changes the conclusion that days on market were down some as they now appear to be up a pretty significant amount.

Mattapoisett, Massachusetts Summary:

The Mattapoisett, Massachusetts real estate market is down significantly since last year.  The average prices were down a large amount while the median sales price was down even more.  The days on market were up a significant amount as well, furthering the argument of a decline in the market.

In summary if you are looking to sell a house in Mattapoisett, MA now you should expect to get a lot 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 Mattapoisett, 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: Ned Point Light House via Wikipedia)

 

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

 Marion MA Town Seal - Marion Massachusetts Real Estate

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

The Marion, MA market has fallen off since last year.   The average prices were down tremendously and the median prices were down as well.  The days on market were down a huge amount, though that might be slightly overstated.  Inventory was up a little with 7 sales in July of 2015 down to 9 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Marion, MA the average listing price in July 2015 was $1,397,521.  This was down to $573,033 in July 2016.  This gives a massive decrease of 59.00% year over year. 

Looking at the median prices we see that it was lower in 2015 but marginally higher in 2016.  For July of 2015 the median listing price for Marion, MA was $599,950 and in July 2016 it was $575,000 which now gives a much smaller decrease of 4.16%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Marion, MA in July of 2015 was $1,354,571 and in July 2016 that was down to $588,667.  That gives another huge decrease of 56.54%, though not quite as high as the average list price. 

We see a lightly different pattern as we did for the median list price.  This time it was still much less in 2015 but was lower in 2016 as well.  For July of 2015 the median sales price for Marion, MA was $575,000 and in July 2016 it was $550,000 giving another much smaller decrease of 4.35%.

Prices have gone down some for Marion, MA this month.  The range for all four metrics was extremely large only going from roughly 4-59%.  While there were multiple high sales in 2015 (the 2 highest as well as 3 of the top 4) there was one clear mega outlier that pulled those averages WAY up.  For that reason we will give pretty much no weight to those huge drops.  Looking just at the medians we see declines a little over 4%.  With the distribution from above and some other observations to the raw data I will go back and give the tiny bit of relevance to those huge average drops and say prices might be down a little more but probably more like 5% or at most higher single digits.

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 Marion, MA the average days on market in July of 2015 were 307.00 and the average days on market for June 2016 were 58.11 giving a massive 81.07% 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, Westport, Franklin (Condos), Groveland, Boston’s Fenway (Condos) #2, Windham, NH #3 and Chelmsford (Condos) outliers in the data can really skew these numbers.  This again is the case for Marion, MA in July.  In this instance there was a very high days on market place in 2015.

In 2015 there was a property with 972 days on market; this was more than the next 3 properties combined and more than 45% of the total days on market for all 7 Properties.  When removed the new calculation for the remaining 6 properties gives an average days on market of 196.17.

 Using the adjusted numbers we now get a smaller increase of 70.38%.  This barely changes the conclusion that the days on market were down a huge amount.  Really while this difference is smaller the decrease is still so big it really only matters when looking at the absolute number of days, the difference there is selling a place over 14 weeks faster.  So while meaningless in evaluating the difference year to year it was important for those selling at that time.

Marion, Massachusetts Summary:

The Marion, Massachusetts real estate market is down a little since last year.  The average prices were down significantly however the median prices were down a much more modest amount.  The days on market were way down which is a counter argument to a down market.  They were actually down to the extent that it could be argued that the additional holding costs narrow the gap here some, however overall that factor is probably not enough to eliminate the price losses.

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

 

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

 

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

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

The Scituate, MA market has fallen off since last year.   The average prices were down and the median prices were down almost as much.  The days on market were up a bit as well.  Inventory was down some with 36 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 Scituate, MA the average listing price in June 2015 was $677,292.  This was down to $600,393 in June 2016.  This gives a sizable decrease of 11.35% 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 Scituate, MA was $640,000 and in June 2016 it was $579,999 which now gives a smaller decrease of 9.38%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Scituate, MA in June of 2015 was $661,346 and in June 2016 that was down to $589,632.  That gives another large decrease of 10.84%, though 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 Scituate, MA was $625,000 and in June 2016 it was $570,000 giving a decrease of 8.80%, the lowest of all our metrics but still fairly sizable

Prices have gone down some for Scituate, MA this month.  The overall range was not that large only going from just under 9% to just under 11.5%.  The medians are the preferred method to use for real estate pricing analysis and those were both lower than the corresponding averages so overall prices are more likely down in the bottom of that range and down right around 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 Scituate, MA the average days on market in June of 2015 were 53.11 and the average days on market for June 2016 were 79.39 giving a very large 49.48% increase.

Scituate, Massachusetts Summary:

The Scituate, Massachusetts real estate market is down since last year.  The average prices were down and the median sale price were down almost as much.  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 Scituate, MA now you should expect to get 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. 

 

Do you need to sell your Scituate, 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: Scituate MA Harbor 1910 postcard via Wikipedia)

 

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

 Rockland MA Seal - Rock;and Massachusetts Real Estate

It has been a while since we have looked at Rockland, MA.  This is our 2nd look at Rockland with the first time being back last June

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

The Rockland, MA market has fallen off significantly since last year.   The average prices and the median prices were down quite a lot.  The days on market were down a lot however.  Inventory was pretty flat with 11 sales in April of 2015 up to 12 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Rockland, MA the average listing price in April 2015 was $354,572.  This was down to $277,309 in April 2016.  This gives a major decrease of 21.79% year over year. 

Looking at the median prices we see that they were higher in both years.  For April of 2015 the median listing price for Rockland, MA was $389,900 and in April 2016 it was $284,900 which now gives an even larger decrease of 26.93%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Rockland, MA in April of 2015 was $354,013 and in April 2016 that was down to $266,406.  That gives another huge decrease of 24.75%, and slightly larger than the average list price. 

We see a different pattern than we did for the median list price.  In this case it was still lower in 2016 but was actually slightly higher in 2015.  For April of 2015 the median sales price for Bedford, MA was $390,000 and in April 2016 it was $286,276 giving another very large decrease of 26.60%. 

There have definitely been substantial price drops for Rockland, MA in April.  The averages and the medians were all down in excess of 20%.  Overall the range was roughly 22-27% so not a huge disparity in the 4 metrics.  Medians are the preferred method when looking at real estate prices and those were both very tight being just under 27% for both the listing and sale prices.  Therefore the best conclusion is that prices are most likely down just about 27% for Rockland, MA this month.

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 Rockland, MA the average days on market in April of 2015 were 180.45 and the average days on market for April 2016 were 101.00 for a large 44.03% decrease.

It is worth noting that we often adjust these numbers when a blatant outlying data point skews the data.  In this case in 2015 there were 2 ridiculously high days on market houses that were both right around 600.  Nothing else was even as high as 200 and the general distribution of the other houses looks very similar to the 2016 houses.  I definitely believe there BOTH of these places might be statistical outliers that could be eliminated.  However, as mentioned in the past we are not going to do any rigorous analysis to make that call, we only eliminate single points that would clearly be eliminated with a statistical analysis.  Therefore while we are NOT making any adjustment to these numbers just keep in mind they MAY be skewed a bit on the high side.

Rockland, Massachusetts Summary:

The Rockland, Massachusetts real estate market is down a lot since last year.  The average prices were down significantly while the median prices were down even more.  The days on market were down a lot though.

In summary if you are looking to sell a house in Rockland, 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 lot less time to sell compared to last year as well. 

 

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

 

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

 Gateway to Cape Cod Light Houses in Wareham MA - Wareham Massachusetts Real Estate

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

The Wareham, MA market has fallen off since last year.   The average prices were down a little and the median prices were down by more.  The days on market increased significantly as well.  Inventory was pretty stable with 23 sales in March of 2015 and 21 in March 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Wareham, MA the average listing price in March 2015 was $238,709.  This was down to $235,195 in March 2016.  This gives a trivial decrease of 1.47% year over year. 

Looking at the median prices we see that it was much lower in both years.  For March of 2015 the median listing price for Wareham, MA was $199,900 and in March 2016 it was $189,900 which now gives a larger decrease of 5.00%.  Not a huge decrease but much larger and not insignificant. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Wareham, MA in March of 2015 was $223,122 and in March 2016 that was down to $219,876.  That gives basically the exact same decrease of 1.45% compared to the average list price. 

We see the same pattern as we did for the median list price.  For March of 2015 the median sales price for Wareham, MA was $195,000 and in March 2016 it was $184,900 giving another larger decrease of 5.18%. 

It does look that prices are down in Wareham, MA in March.  The averages were only down a hair and the medians were down a bit more.  Medians are the favored measure in real estate price analysis so those are probably the more accurate representation.  Given that prices are likely down right around the 5% seen with those.

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 Wareham, MA the average days on market in March of 2015 were 112.96 and the average days on market for March 2016 were 153.86 for a substantial 36.21% increase. 

Wareham, Massachusetts Summary:

The Wareham, Massachusetts real estate market is down since last year.  The average prices were down a marginal amount and the median listing prices were down a bit more.  The days on market were also up a significant amount given some more evidence of a weaker market. 

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

 

Do you need to sell your Wareham, 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: “Gateway to Cape Cod” Lighthouses in Wareham MA by ToddC4176 via Wikipedia)

 

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

 Lakeville MA Town Seal - Lakeville Massachusetts Real Estate

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

The Lakeville, 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 also appear to be up quite a bit as well, however this may be deceiving.  Inventory was pretty stable only going down from 8 sales in January of 2015 to 7 in January 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Lakeville, MA the average listing price in January 2015 was $375,475.  This was down to $274,529 in January 2016.  This gives a massive decrease of 26.88% year over year. 

Looking at the median prices we see that they were a bit higher in both years.  For January of 2015 the median listing price for Lakeville, MA was $399,900 and in January 2016 it was $310,000 which gives a slightly smaller decrease of 22.48%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Lakeville, MA in January of 2015 was $367,363 and in January 2016 that was down to $264,714.  That gives a larger 27.94% decrease compared to the average list price. 

We see the same pattern with the median sale prices as we did for the listing prices.  For January of 2015 the median sales price for Lakeville, MA was $380,250 and in January 2016 it was $306,000 giving another large decrease of 19.53%. 

All our metrics show that prices are down significantly year over year for Lakeville, MA in January.  The averages were down a bit more than the medians.  However the medians are usually preferred in these kinds of real estate analyses and since sales are most important we would lean towards the lowest option of saying it is down just under 20% vs. the 27-28% the averages suggest.

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 Lakeville, MA the average days on market in January of 2015 were 119.25 and the average days on market for January 2016 were 158.57 for a pretty big 32.97% 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 and Hingham (Condos) outliers in the data can really skew these numbers.  This again is the case for Lakeville, MA in January.  In this instance there was a very high days on market place in 2016.

In 2016 there was a property with 502 days on market; this was a bit more than the next 3 properties combined and over 45% of the total days on market for all 7 Properties.  When removed the new calculation for the remaining 6 properties gives an average days on market of 101.33. 

Using the adjusted numbers we now get a fairly small decrease of 15.03%.  This does change the conclusion of the days on market being up a modest amount.  Now we see they are actually down some.  This is not a huge decrease but the swing from a moderate increase to this does change the perception a bit.

Lakeville, Mass Summary:

The Lakeville, Massachusetts real estate market is down quite a bit since last year.  The average prices were way down and median prices were down quite a bit as well.  The days on market do appear to be down a little, but not nearly enough to counteract the large prices drops.

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

 

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

Aerial Photo of Hull MA - Hull Massachusetts Real Estate

Market Trends in Hull, MA – December 2014 and 2015:

The Hull, MA market has fallen off tremendously 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 quite a bit too.  Inventory was pretty stable only going down from 10 sales in December of 2014 to 9 in December 2015. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Hull, MA the average listing price in December 2014 was $568,930.  This was down to $318,522 in December 2015.  This gives a massive decrease of 44.01% year over year. 

Looking at the median prices we see that they were a bit higher in both years.  For December of 2014 the median listing price for Hull, MA was $577,000 and in December 2015 it was $325,000 which gives an almost exact same decrease of 43.67%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Hull, MA in December of 2014 was $547,150 and in December 2015 that was down to $303,767.  That gives a larger 44.48% decrease compared to the average list price. 

We see the same pattern with the median sale prices as we did for the listing prices with 2015 but for 2014 it was just a little lower.  For December of 2014 the median sales price for Hull, MA was $550,000 and in December 2015 it was $299,900 giving another huge decrease of 45.47%. 

No matter how you look at it prices are down massively year over year for Hull, MA in December.  The range was very tight so not too much analysis here.  The rage was only just over 43.5% to just under 45.5% so not a lot of variance and the difference between being down 43% and 45% is fairly inconsequential.  Since the sale prices were down on the higher side and the median sale price, which is generally considered the most important, was down the most we would conclude that prices are probably down closer to the top of the small range though.

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 Hull, MA the average days on market in December of 2014 were 99.30 and the average days on market for December 2015 were 130.22 for a pretty big 31.14% increase. 

Hull, Mass Summary:

The Hull, Massachusetts real estate market is down tremendously since last year.  The average prices were way down and median prices were down just as much.  The days on market are up a very sizeable amount as well.

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

 

Do you need to sell your Hull, 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: Hull Massachusetts aerial view photo via Wikipedia)

 

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

 Old Ship Church Higham MA - Hingham Massachusetts Real Estate

Market Trends in Hingham, MA – December 2014 and 2015:

The Hingham, MA condo market has fallen off since last year.   The average prices were both down while the median prices were down significantly as well.  The days on market also appear to be up, but that may be deceiving.  Inventory was up a lot going from 8 sales in December of 2014 to 12 in December 2015. 

Average Listing Prices:

We will first start off by looking at the average listing price.  For condos in Hingham, MA the average listing price in December 2014 was $815,100.  This was down to $745,567 in December 2015.  This gives a decent decrease of 8.53% year over year. 

Looking at the median prices we see that it was higher in 2014 and just a touch lower than the average in 2015.  For December of 2014 the median listing price for Hingham, MA condos was $942,000 and in December 2015 it was $744,000 which now gives a much bigger decrease of 21.02%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for a condo in Hingham, MA in December of 2014 was $836,577 and in December 2015 that was down to $710,833.  That gives a much larger 15.03% decrease relative to the average list price. 

We see a slightly different pattern with the median sale prices as we did for the listing prices.  In this case it was still much higher in 2014 but this time was also noticeably bigger in 2015 as well.  For December of 2014 the median sales price for Hingham, MA condos was $935,850 and in December 2015 it was $731,500 giving another larger decrease of 21.84%. 

This month prices are down significantly for condos in Hingham, MA compared to last year.  Since medians are generally preferred over averages and sales are more important than listing prices we are not going to give much weight to the relatively small decrease in the average list price.  Since both medians are almost the same we would conclude that prices seem to be down over 20% for Hingham, MA condos in December.

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 Hingham, MA the average days on market in December of 2014 were 83.50 and the average days on market for December 2015 were 106.33 for a pretty good 27.34% 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 and Seabrook, NH outliers in the data can really skew these numbers.  This again is the case for Hingham, MA condos in December.  In this instance there was a very high days on market place in the data for both years.

In 2014 there was a property with 234 days on market; this was a bit more than the next 2 properties combined and over 35% of the total days on market for all 8 Properties.  When removed the new calculation for the remaining 7 properties gives an average days on market of 62.00. 

In 2015 there was a property with 440 days on market; this was almost as much as the next 3 properties combined and over 34% of the total days on market for all 12 Properties.  When removed the new calculation for the remaining 11 properties gives an average days on market of 75.91. 

Using the adjusted numbers we now get a marginally smaller increase of 22.44%.  This does not change the conclusion of the days on market being up a modest amount as the adjustments for both years basically canceled each other out in terms of the percentage change.    

Hingham, Mass Summary:

The Hingham, Massachusetts condo real estate market is down a bit since last year.  The average prices were down and median prices were down substantially more.  The days on market are also up some as a further indication of a weaker market compared to this month last year.

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

 

Do you need to sell your Hingham, 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: OldShipChurchView via Wikipedia)

 

Real Estate Trends – Bridgewater, 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 again highlighting the market in Bridgewater, MA in Plymouth County

 Boyden Hall Bridgewater State College - Bridgewater Massachusetts Real Estate

This is the 2nd time we have looked at Bridgewater.  In August we did our “Bridgewater Week” where we also profiled East Bridgewater and West Bridgewater in market reports that week.

Market Trends in Bridgewater, MA – November 2014 and 2015:

The Bridgewater, MA market has fallen off some since last year.   The average prices were both down a bit, though the median prices were down by very little.  The days on market were actually down a little bit.  Inventory was down a lot going from 17 sales in November of 2014 down to 12 in November 2015. 

Average Listing Prices:

To start off first we are going to look at the average listing price.  For Bridgewater, MA the average listing price in November 2014 was $335,779.  This was down to $299,500 in November 2015.  This gives a large decrease of 10.80% year over year. 

Looking at the median prices we see that it was quite a bit larger than the average in 2015.  For November of 2014 the median listing price for Bridgewater, MA was $339,000 and in November 2015 it was $332,400 which now gives a much smaller decrease of 1.95%.  Indicating things were flat more than down by a meaningful amount.

Average Sale Prices:

Next up we will be looking at is the average sale prices.  The average sale price for Bridgewater, MA in November of 2014 was $327,638 and in November 2015 that was down to $292,808.  That gives another noticeably large decrease of 10.63%. 

We see a similar pattern with the median sale prices as we did for the listing prices for both years.  For November of 2014 the median sales price for Bridgewater, MA was $332,500 and in November 2015 it was $331,950 giving a totally insignificant decrease of 0.17%.

It is not clear that prices are down or mostly flat for Bridgewater, MA in November.   By the averages prices are down quite a lot but looking at the medians prices were pretty flat.  While we would not totally dismiss the average price data medians are usually the preferred metric so we would conclude that prices are mostly flat but maybe down just a little.  It is interesting to note that this is the opposite of the pattern seen in the July data were the averages prices were pretty much flat but the medians were down 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 Bridgewater, MA the average days on market in November of 2014 were 73.71 and the average days on market for November 2015 were 59.75 for a moderate 18.94% decrease.

Bridgewater, Mass Summary:

The Bridgewater, Massachusetts real estate market is mostly flat since last year.  The average prices were down significantly, however the median prices were only down by meaningless amounts.  The days on market were down a little as well, which favors an evaluation of not being down a lot. 

In summary if you are looking to sell a property in Bridgewater, MA now you should expect to get close to what you would have gotten last year.  You can also expect it to take a little less time to sell compared to last year too. 

 

Do you need to sell your Bridgewater, 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: Boyden Hall BSC by ToddC4176 via Wikipedia)

 

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

 John Curtis Library Hanover MA - Hanover Massachusetts Real Estate

Market Trends in Hanover, MA – November 2014 and 2015:

The Hanover, MA market has fallen off a bit since last year.   The average prices were both down a lot.  The median prices were down significantly as well.  The days on market appear to be up some as well, though as we have seen in the past this might not be fully accurate.  Inventory was down by almost half with 17 sales in November of 2014 and only 9 in November 2015. 

Average Listing Prices:

Starting off we are going to look at the average listing price.  For Hanover, MA the average listing price in November 2014 was $455,747.  This was down to $412,722 in November 2015.  This gives a noticeable decrease of 9.44% year over year. 

Looking at the median prices we see that it was significantly higher than the average in 2014 and significantly lower than the average in 2015.  For November of 2014 the median listing price for Hanover, MA was $499,000 and in November 2015 it was $350,000 which now gives a substantially larger decrease of 29.86%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for Hanover, MA in November of 2014 was $444,406 and in November 2015 that was down to $406,156.  That gives a fairly similar 8.61% decrease compared to the average listing price. 

We see a similar pattern with the median sale prices as we did for the listing prices for both years.  For November of 2014 the median sales price for Hanover, MA was $499,000 and in November 2015 it was $349,500 giving another significantly larger decrease of 29.96%.

Prices are definitely down in Hanover, MA this month.  The question is exactly how much as there are different conclusions to be made depending on which data you look at.  We easily conclude that they are down minimally in the 8-10% range indicated by the average prices.  In these types of analyses median prices are generally the preferred metric.  These showed much larger price drops of about 30%. 

However this is a case where art and science need to meet and look at the raw numbers a little more.  In both years there was a very large gap on one side of the median to the next house (recall the median in the middle value, so half above and half below that price point).  So a single additional sale in either year that pushed the median in that direction would have changed the conclusion a lot (but likely not much for the averages) so while I would still give significant weight to the medians I would not say that I feel that based on this data that someone should expect to get 30% less than they would have last year.  The truth probably lies in the middle around 20%, give or take a little.

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 Hanover, MA the average days on market in November of 2014 were 75.94 and the average days on market for November 2015 were 97.11 for a decent 27.88% 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) and Dedham #3 outliers in the data can really skew these numbers.  This again is the case for Hanover, MA in November.  In this instance there was a very high days on market place in the 2015 data.

In 2015 there was a property with 419 days on market; this was more than the next 5 properties combined and almost 48% of the total days on market for all 9 Properties.  When removed the new calculation for the remaining 8 properties gives an average days on market of 56.88. 

Using the adjusted numbers we now see a similar decrease of 25.10%.  This totally changes the general conclusion of the days on market being up and now they appear to be down a fair amount. 

It is worth noting that there was a high days on market in 2014 as well, however our practice is to only eliminate the “no brainer” level of outliers.  The data point in 2014 did not rise to that level and our feelings are that the effort to do a rigorous statistical analysis is not justified for these days on market observations.  So in my opinion there is a very good chance that point should be eliminated too, which would make things look much more flat, but I can’t say with certainty it should be and therefore did not eliminate it.

Hanover, Mass Summary:

The Hanover, Massachusetts real estate market is down a bit since last year.  The average prices were down some and median prices were down by substantially more.  The days on market were down some though after reevaluating the data, which is a plus but does not make up for the significant price drops. 

In summary if you are looking to sell a property in Hanover, 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 less time to sell compared to last year. 

 

Do you need to sell your Hanover, 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: John Curtis Free Library Hanover, MA by John Phelan via Wikipedia)