Homes For Sale in Ashland Market Report

The lack of inventory is finally starting to hit the Home Selling Index. This isn't unexpected, but what we will be following is how the prices respond to the decrease in home sale transaction volume.

 

Here's the chart:

The Ashland real estate market looks to be getting more normalized.  Homes

for sale are headed up, transaction volume is falling, and the HSI is back from the clouds.

Can’t see the chart? You can find it Here .

 

We can see that the HSI has taken a pretty sharp fall. With the sales data from July and August falling out of this report, to me the number that really stands out is the drop in sales volume from 90 to 77 over a six month period. That number is going to continue to fall, as there wasn't enough houses on the market last fall/early this year. So the question will be: How far will it fall? And what will that do to the buyer mentality?

 

Find Your Next Home or Check out the Competition!

We've documented already here that the buyers are being far more cautious this year than they were last year. Will that result in lower prices? Longer sales times? Too early to tell - I'll wait till I see what happens in April - but it's going to be an interesting dynamic playing out. If you judge by this report, the buyers are clearly regaining leverage. That is especially apparent in the drop in prices - which was pretty unexpected by me - that resulted from this report to the last.

 

But before we conclude that the buyers are in truly in charge, we need to slow down a little. First, the spring inventory is coming on. Even a small rise in the number of houses for sale is going to have a big impact on the HSI because it's stratospheric. Also, it's worth noting that what sellers are asking for prices in Ashland is $219/sq foot - meaning even if everyone does a 10% price reduction to get sold, $/sq foot will go up 7% this spring. Sellers are very optimistic about prices - and that will need to change if the buyers are to regain a measure of control.

 

 

Ashland Recent Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Ashland‘s “Home Seller Index” (HSI): 136 Last Report: 196
  • There are 27 homes listed as For Sale.

    With little inventory, inexperience

    home buyers are taking on risk when

    evaluating properties.
  • There have been 77 houses sold in the last 6 months, and 36 homes sold in the last 3 months in Ashland.
  • The Average number of Days on Market was 88 days for just SOLD homes.
  • There is an Average Market Time of 121 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $185 (vs. $197 )
  • There was an Average Sold Price of $367,767 for sold homes.
  • Ashland, MA, has 1 properties (vs. 2) advertised as lender owned or foreclosure (typically foreclosure) .
  • Ashland has 0 properties (vs. 1 in the last report) advertised as a short-sale is going to be needed by lender.

 

 

 

*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary. (That means you won’t find it anywhere else. Take that, Case-Schilling!).

 

More Great Reads!

About Matt Heisler

Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.