Real Estate Trends – Rehoboth, 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 Rehoboth, MA in Bristol County

 Rehoboth MA Seal - Rehoboth Massachusetts Real Estate

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

The Rehoboth, MA market has fallen off since last year.   The average prices were down some and the median prices were as well.  The days on market were pretty flat.  Inventory was up some with 11 sales in July of 2015 up to 15 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Rehoboth, MA the average listing price in July 2015 was $433,209.  This was down to $395,520 in July 2016.  This gives a more than modest decrease of 8.70% year over year. 

Looking at the median prices we see that it was lower in both 2015 and 2016.  For July of 2015 the median listing price for Rehoboth, MA was $419,000 and in July 2016 it was $379,900 which now gives a larger decrease of 9.33%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Rehoboth, MA in July of 2015 was $419,105 and in July 2016 that was down to $383,133.  That gives another modest decrease of 8.58%, just about the same as 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 Rehoboth, MA was $405,000 and in July 2016 it was $375,000 giving a smaller decrease of 7.41%.

Prices are down some for Rehoboth, MA this month.  The range for all the numbers was pretty small only going from around 7.5-9.5%.  The averages were very consistent at just over 8.5%.  The medians were not as the median list was the high and the median sale was the low point.  Since the median sale price is generally considered the most important one we look at we give it the most weight so prices are down more at the bottom of our range.  Give all the other ones are higher and the overall range was tight maybe prices are down closer to 8% then under 7.5% but that is about the most I would be willing to push it up from.

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 Rehoboth, MA the average days on market in July of 2015 were 101.09 and the average days on market for July 2016 were 105.27 giving a small 4.13% increase.  While up slightly this is pretty flat overall.

Rehoboth, Massachusetts Summary:

The Rehoboth, Massachusetts real estate market is down some since last year.  The average prices were down and the median prices were down around the same amount.  The days on market were up a tiny bit as well.

In summary if you are looking to sell a house in Rehoboth, MA now you should expect to get less for it than you would have gotten last year.  Though you can also expect it to take about the same, but maybe slightly more, time to sell compared to last year as well. 

 

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