Strength in the Ashland Housing Market
March 3rd, 2009
Ashland Massachusetts is a community that is tucked away in the shadows of the larger Town of Framingham, but some people have noticed it!
The housing market is reflecting overall declines of 12% in median prices, but Ashland is holding up very well.
The median prices in single family homes for the town is $419750, for the 12 months ending 3/1/09. The median price for the 12 months prior to this was $423750.
This is an overall decline in median price of 1%!
The inventory of available homes in Ashland is quite low. There are only 47 single family homes on market. This is a decline of 23% from a year ago.
The single family homes on market have been available for an average of 176 days, or almost 6 months.
The real estate industry uses a term called “consumption rate” to describe whether we are in a Buyer’s Market or a Seller’s Market. This math is made up of how long it would take to soak up all the current homes on market assuming that we continue at the current pace of sales.
Here is the computation:
135 homes sold or pending over the past 12 months = 11.25 homes sold per month (on average)
47 Active single family homes.
47 divided by 11.25 equals 4.18 Consumption Rate
The real estate industry considers:
a Neutral Market as falling between a rate of 5-6.
A Sellers Market is 4 or less,
and a Buyers Market is greater than 7.
If you are a Seller in Ashland, smile, the numbers are not as bad as you have been hearing out there. Give our team a call if we can shed more light on the local market and upgrade you into a terrific new home.
Ed Daniels is a team member of The MAhome Team of Re/Max Executive Realty. Based in Hopkinton, MA the team covers the entire Metrowest Area of Massachusetts. Give us a call at 508-341-7880 with any questions or comments.Categories: Ashland, Market Conditions, Real Estate
This entry was posted on Tuesday, March 3rd, 2009 at 9:48 pm and is filed under Ashland, Market Conditions, Real Estate. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
