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

 

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

The Townsend, MA market has fallen off significantly since last year.   Both the average prices and the median prices were down significant amounts.  The days on market were down a lot however.  Inventory was up a little with 10 sales in April of 2015 up to 13 in April 2016. 

Average Listing Prices:

We will first start off by looking at the average listing price.  In Townsend, MA the average listing price in April 2015 was $319,800.  This was down to $240,138 in April 2016.  This gives a very large decrease of 24.91% year over year. 

Looking at the median prices we see that they were a little lower in both years.  For April of 2015 the median listing price for Townsend, MA was $318,750 and in April 2016 it was $235,900 which now gives an even larger decrease of 25.99%. 

Average Sale Prices:

The next thing we will be looking at is the average sale prices.  The average sale price for in Townsend, MA in April of 2015 was $312,940 and in April 2016 that was down to $239,169.  That gives another very large decrease of 23.57%, and very similar to the average list price. 

We see a different pattern than we did for the median list price.  In this case it was just a tiny bit lower in 2015 but was actually slightly higher in 2016.  For April of 2015 the median sales price for Townsend, MA was $312,500 and in April 2016 it was $242,000 giving another very large decrease of 22.56%. 

Prices are down significantly for Townsend, MA in April.  The overall range was not that large going from about 22.5-26%.  There is no real pattern other than the drops in listing prices was a little higher than that of the sale prices.  Since sales are obviously far more important we will just say that prices are down right about 23%

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 Townsend, MA the average days on market in April of 2015 were 224.10 and the average days on market for April 2016 were 85.85 for a massive 61.69% decrease.

Townsend, Massachusetts Summary:

The Townsend, Massachusetts real estate market is down substantially since last year.  The average prices and the median prices were all down well over 20%.  The days on market were down a lot though.  While a nice piece of information for current home sellers it is not enough to compensate for the tremendous price drops when determining that the market is down a lot.

In summary if you are looking to sell a house in Townsend, MA now you should expect to get much 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 Townsend, 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: Townsend MA Common by Marcbela via Wikipedia)