What Buyers and Sellers Need to Know Right Now
Introduction
Navigating the real estate market can feel like a rollercoaster ride, especially in a dynamic area like Hanson, Massachusetts. Whether you’re buying or selling, understanding the current metrics can help you make informed decisions. So, let's break down the latest numbers and see what they mean for you!
The Months Supply of Inventory
To kick things off, let’s look at the Months Supply of Inventory, currently at 1.49. This figure reveals how long it would take to sell every home on the market if no new properties were added. A lower number typically means a seller's market, where demand vastly outpaces supply. If you’re a buyer, you may have noticed that the competition is fierce!
Decreased Inventory: What It Means for You
Now, let's talk about the 12-Month Change in Months of Inventory, which is down 22.4%. This decrease indicates that the number of homes on the market is less than last year. With fewer homes to choose from, buyers face a tougher challenge. However, sellers can breathe a sigh of relief as this trend works in their favor.
Homes Selling Swiftly
Next up, consider the Median Days Homes are On the Market, which stands at 57 days. This relatively short time means that homes are selling quickly, often due to high buyer demand and limited supply. If you see a home you like, it’s likely that others are eyeing it too. So, don’t wait too long to make an offer!
Sellers Hold the Advantage
Now, let’s touch on the Sold to List Price Percentage, which sits at an impressive 102.1%. This indicates that, on average, homes are selling for slightly more than their listing price. For sellers, this is a golden opportunity to negotiate well and potentially get top dollar for their property.
Median Sold Price Insights
Finally, the Median Sold Price in Hanson is around $610,780. This gives both buyers and sellers a benchmark for pricing expectations. Buyers should keep this figure in mind when budgeting, while sellers can use it to gauge their property’s worth.
Final Thoughts
In summary, the real estate market in Hanson is showing signs of being highly competitive with limited inventory and homes selling at or above asking price. Buyers should be ready to act quickly, while sellers may find it an opportune time to put their properties on the market.
Ready to jump into the Hanson real estate market? Contact me today to get started on your journey, whether you’re buying or selling!
Market Analysis Report
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