Real Estate Trends – Hopkinton, Massachusetts

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward.

Today we are highlighting the market in Hopkinton, MA in Middlesex County

 Hopkinton MA Town Hall - Hopkinton Massachusetts Real Estate

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

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

Average Listing Prices:

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

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

Average Sale Prices:

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

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

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

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Hopkinton, MA the average days on market in August of 2015 were 120.03 and the average days on market for August 2016 were 74.18 giving a fairly sizable 38.20% decrease.

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

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

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

Hopkinton, Massachusetts Summary:

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

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

 

Do you need to sell your Hopkinton, Massachusetts house fast?  If you would like to  sell your home  fast and hassle free  schedule a consultation  with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Hopkinton MA Town Hall by Pvmoutside via Wikipedia)

 

Real Estate Trends – Easton, 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 highlighting the market in Easton, MA in Bristol County

 North Easton MA in 1891 - Easton Massachusetts Real Estate

We have looked at Easton several times in the past, most recently just this past June.   

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

The Easton, MA market has fallen off some since last year.   The average prices were down and the median prices were down a bit more.  The days on market were up some as well.  Inventory was pretty stable with 27 sales in July of 2015 down to 25 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Easton, MA the average listing price in July 2015 was $461,581.  This was down to $445,753 in July 2016.  This gives a small decrease of 3.43% year over year. 

Looking at the median prices we see that it was higher in 2015 and lower in 2016.  For July of 2015 the median listing price for Easton, MA was $479,900 and in July 2016 it was $400,000 which now gives a much larger decrease of 16.65%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Easton, MA in July of 2015 was $456,024 and in July 2016 that was down to $450,706.  That gives another small decrease of 1.17%, though a bit lower 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 Easton, MA was $465,000 and in July 2016 it was $410,000 giving another much smaller decrease of 11.83%.

Prices are down for Easton, MA this month.  The range for all four metrics was pretty large going from about 1-16.5%.  The averages were much lower than the medians at only about 1-3.5%.  The medians were much higher at about 12-16.5%.  Medians are the preferred real estate pricing analysis method so it is reasonable to go with that higher range.  That range is not that big but since sales are far more important than just listing prices and the median sale price was the lower end of the range, therefore the best guess is that prices are down at the lower end of the range at just under 12%.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Easton, MA the average days on market in July of 2015 were 64.26 and the average days on market for July 2016 were 87.56 giving a fairly sizable 36.26% increase.

Easton, Massachusetts Summary:

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

In summary if you are looking to sell a house in Easton, 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 Easton, 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: North Easton MA in 1891 via Wikipedia)

 

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 – Dover, Massachusetts #2

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward.

Today we are highlighting the market in Dover, MA in Middlesex County

 Dover MA Soldiers' Memorial - Dover Massachusetts Real Estate

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

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

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

Average Listing Prices:

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

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

Average Sale Prices:

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

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

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

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Dover, MA the average days on market in July of 2015 were 152.33 and the average days on market for July 2016 were 83.71 giving a sizable 45.05% decrease.

Dover, Massachusetts Summary:

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

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

 

Do you need to sell your Dover, Massachusetts house fast?  If you would like to sell your home  fast and hassle free  schedule a consultation  with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Dover MA Soldiers’ Monument via Wikipedia)

 

Real Estate Trends – Boston’s Jamaica Plain #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 the Jamaica Plain neighborhood of Boston, MA in Suffolk County

 Skating on Jamaica Pond by Winslow Homer - Boston Massachusetts's Jamaica Plain Real Estate

We looked at Jamaica Plain last July as one of our early reports for the city of Boston so it is about time to visit that market again.

Market Trends in Boston’s Jamaica Plain – July 2015 and 2016:

The Boston, MA’s Jamaica Plain neighborhood market has fallen off a bit since last year.   The average prices are down a lot and the median prices were down as well.  The days on market were also up a bit as well.  Inventory was up a bit with 9 sales in July of 2015 and up to 13 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In the average listing price for the Jamaica Plain area of Boston, MA for July 2015 was $908,889.  This was down to $753,617 in July 2016.  This gives a very large decrease of 17.08% year over year. 

Looking at the median prices we see that it was lower in 2015 but higher in 2016.  For July of 2015 the median listing price for Boston’s Jamaica Plain was $899,000 and in July 2016 it was $799,000 which now gives a still quite significant but smaller decrease of 11.12%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price in the Jamaica Plain section of Boston, MA in July of 2015 was $919,222 and in July 2016 that was down to $757,769.  That gives a decrease of 17.56%, and a little bit higher than we saw for the average list price. 

We see the same pattern that we did for the median list price.  For July of 2015 the median sales price for Boston, MA’s Jamaica Plain neighborhood was $910,000 and in July 2016 it was $800,000 giving another larger decrease of 12.09%.  Once again less than the average, though higher than the median listing price. 

Prices have gone down a fair bit for Boston, MA’s Jamaica Plain area this month.  The overall range was not that big going from about 11-17.5%.  Since the medians are usually the favored method for real estate pricing analyses prices are going to be down on the lower end of the range since it was the average prices that were done over 17%.  Since sales are far more important to look at then just listing prices we see that the median sale price is slightly higher so best guess is that prices are down at least the 12% or so indicated by that metric.

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For the Jamaica Plain section of Boston, MA the average days on market in July of 2015 were 24.44 and the average days on market for July 2016 were 55.38 for a massive increase of over 126%!

Boston MA’s Jamaica Plain Summary:

The Boston, Massachusetts Jamaica Plain real estate market is down a bit since last year.  The average prices were down a lot while the median prices were down substantially as well.  The days on market were up a huge amount to further support the conclusion of a decline in the market this month.

In summary if you are looking to sell a house in Boston, MA’s Jamaica Plain section now you should expect to get less for it than you would have gotten last year.  You should also expect it to take significantly more time to sell compared to last year as well. 

 

Do you need to sell your Jamaica Plain section of Boston, 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: Skating on Jamaica Pond by Winslow Homer via Wikipedia)

 

Real Estate Trends – Acton, Massachusetts #3

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward.

Today we are highlighting the market in Acton, MA in Middlesex County

 Acton MA Town Seal - Acton Massachusetts Real Estate

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

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

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

Average Listing Prices:

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

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

Average Sale Prices:

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

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

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

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Acton, MA the average days on market in July of 2015 were 41.11 and the average days on market for July 2016 were 46.41 giving a modest 12.89% increase.

Acton, Massachusetts Summary:

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

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

 

Do you need to sell your Acton, Massachusetts house fast?  If you would like to sell your home  fast and hassle free  schedule a consultation  with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Acton MA Town Seal via Wikipedia)

 

Real Estate Trends – 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)

 

Real Estate Trends – West Newbury, 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 West Newbury, MA in Essex County

 West Newbury Massachusetts's John Cena - West Newbury MA Real Estate

Market Trends in West Newbury, MA – July 2015 and 2016:

The West Newbury, MA market has fallen off since last year.   The average prices were down significantly and the median prices were down even more so.  The days on market were up just a tiny bit, but would be better described as flat.  Inventory was pretty stable with 5 sales in July of 2015 up to 6 in July 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In West Newbury, MA the average listing price in July 2015 was $741,780.  This was down to $601,283 in July 2016.  This gives a very large decrease of 18.94% year over year. 

Looking at the median prices we see that it was higher in 2015 but lower in 2016.  For July of 2015 the median listing price for West Newbury, MA was $760,000 and in July 2016 it was $594,950 which now gives an even larger decrease of 21.72%.

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in West Newbury, MA in July of 2015 was $735,380 and in July 2016 that was down to $583,083.  That gives another significant decrease of 20.71%, a little higher than the average list price. 

We see a slightly different pattern as we did for the median list price, this time both were higher than the average price.  For July of 2015 the median sales price for West Newbury, MA was $760,000 and in July 2016 it was $588,750 giving another much smaller decrease of 22.53%.

Prices are down substantially for West Newbury, MA this month.  The range for all four metrics was pretty small going from about 19-22.5%.  The averages were lower than the medians.  Medians are the more common method for real estate pricing analysis so we are going to say that prices are going to be at the top of the range.  Since the median sale price is the most important number while the whole potential range is pretty high prices are probably down right at the top of the range at about 22.5%

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 West Newbury, MA the average days on market in July of 2015 were 71.40 and the average days on market for July 2016 were 72.17 giving a meaningless 1.08% increase.  It is safe to say that days on market were flat here.

West Newbury, Massachusetts Summary:

The West Newbury, Massachusetts real estate market is down significantly since last year.  The average prices were down a lot and the median prices were down an even larger amount.  The days on market were basically flat with just a tiny increase.

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

 

Do you need to sell your West Newbury, 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 Cena at 2010’s Tribute to the Troops via Wikipedia)

 

Real Estate Trends – Ashland, Massachusetts #2

Introduction:

Welcome back again for our latest real estate market trend report.  For those of you that are here for the first time what we do in these reports is examine the real estate market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  We do this by looking at the changes in three key metrics year over year for the municipality to see how the market has changed and then evaluate what those observations might mean for that market moving forward.

Today we are highlighting the market in Ashland, MA in Middlesex County

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

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

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

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

Average Listing Prices:

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

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

Average Sale Prices:

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

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

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

Average Days on Market:

Finally the last metric we look at are the average days on market, which is the measure of how long it takes for a property to sell in the current market.  For Ashland, MA the average days on market in July of 2015 were 38.72 and the average days on market for July 2016 were 28.58 giving a modest 26.19% decrease.

Ashland, Massachusetts Summary:

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

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

 

Do you need to sell your Ashland, Massachusetts house fast?  If you would like to sell your home  fast and hassle free  schedule a consultation  with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Stone’s Public House in Ashland MA via Wikipedia)

 

Real Estate Trends – 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)