HOLLISTON REAL ESTATE MARKET ROUND UP 2016
If you are considering buying or selling a home in the dynamic town of Holliston in 2017, there are many trends to consider. After double digit price increases in 2015, the Holliston real estate market showed strength in the number of sales in 2016, but the prices took a dip. The number of available homes to purchase remains tight due to low inventory and rising rates will likely put pressure on home buyers to jump into the market, rather than taking a "wait and see" attitude.
Currently there are only 30 single family homes on the market in Holliston. The least expensive Holliston home to purchase is 30 Cottage Street for $195,000. The most expensive Holliston home available is Lot 8 Pond View with a list price of $1,275,000. The average list price is $681,612 and the average days on the market are 159.
There were 195 single family home sales in Holliston in 2016. The least expensive home to sell was 66 Lakeshore Drive for $135,000 and the most expensive home sale was 32 Praying Indian Way, with a sale price of $1,325,000. The average living area of single family homes for sale in Holliston was 2,310 square feet. The average list price was $487,773. The average sale price was $484,603. Holliston homes were on the market for about 77 days on average, but they received offers within 52 days on average. The average list price per square foot was $218 and the average sale price was $216 per square foot.
Compared to 2015, there were a similar number of home sales. The major difference was that the average sale price in 2015 was $525,746. This represents an 8 percent decline in the sales price in 2016 compared to 2015. The average list price of Holliston homes in 2015 was $529,691 in 2015, which also reflects an 8 percent decline compared to the 2016 average list price.
As a consumer we understand this information can be very confusing. Certain homes are seeing multiple offers due to the inventory shortage, while others are remaining on the market a bit longer. Housing sales are robust, but the average sale price is down. Markets change very quickly and it is important to understand the market if you are considering buying or selling in the near future.
It is interesting to note the following:
From $0 to $300,000 there were 19 home sales in 2015 versus 27 home sales in the same price bracket in 2016
From $300,000 to $500,000 there were 86 home sales in 2015 and 100 homes sales in 2016.
From $500,000 to $800,000 there were 71 home sales in 2015 and 53 home sales in 2016.
From $800,000+ there were 19 home sales in 2015 and 20 home sales in 2016.
While it is difficult to speculate how home sales could decline in such a robust market, it is worth considering sales were robust in the lower end of the market. There were more home sales from $0 to $500,000 in 2016. There were fewer homes sold in the $500,000 to $800,000 price point in 2016. Sales $800,000+ were relatively similar in both years.
Perhaps there was just more affordable inventory in lower price points, making the sales price decline strictly due to the number of available homes for purchase in the mid to upper range.
Whether you are buying or selling a home, it is very important to have agents who understand the market nuances. If you are looking to sell a Holliston home, it is worth noting our average list price was $687,073 compared to the market average of $521,242. Also, our list to sale price ratio was 96 percent. The average days to offer for homes we listed was 37.75 while the market average was 51.98.
What does that mean? We know how to market first time buyer homes all the way up to luxury homes. We are skilled at finding the right buyer for every property we market due to our extraordinary marketing programs. If you want to learn how to achieve top dollar in today's Holliston market, please give us a call! Our proven marketing plan ensures our sellers achieve the most amount of money in the least amount of time with the very best exposure and excellent customer satisfaction along the way.
If you are a buyer, we are happy to guide you from the purchase process from start to finish. This involves an interview to assess your needs, assisting with your financing, coordinating buyer tours of the market place, analyzing market trends and more. Once you locate your dream home, you will need help with many key steps - hiring the right home inspector, hiring an attorney, assistance with the details of financing, steps including the walk through & receiving the keys. Having the right team in place will ensure you have a wonderful experience.
We would love to assist you if you are looking to buy or sell a home in the Holliston market and surrounding towns. Please call or text us at any time. Barb's cell - 508-277-6675 and Miah;s Cell - 508-446-4469.
Have a blessed and wonderful 2017!
Aug. 18, 2016
The Holliston real estate market has been very active in the last six months. There have been more Holliston house sales this year compared to the same period last year. Sales prices have declined, signaling a slight shift in the red hot housing market. However, it is still a great time to sell a Holliston home as the inventory of available homes is still slim and there are many buyers in the market. Mortgage brokers are signaling there may be a slight increase in mortgage rates in the fall, which will likely make some buyers more eager to purchase a home sooner rather than later.
There are currently 38 homes on the market in Holliston. The least expensive is 559 Concord Street, which is available for $179,900. The most expensive home on the market is Lot 14 Deer Run, which is available for $1,500,000. The average living area is 2,881 square feet. The average list price is $618,412. Homes have been on the market for an average of 120 days.
Forty nine homes are under agreement. The least expensive home pending is 2174 Washington Street, which was on the market for $239,900. The most expensive home pending is 32 Praying Indian Way, which was listed for $1,325,000. The average living area of pending homes is 2,227 square feet. The average list price of pending homes is $496,072. The average list price per square foot is $228. The average days on the market is 119. It took 90 days for those homes on the market to get an accepted offer.
There were 114 homes sold in the past six months in Holliston. The least expensive house sale was 66 Lakeshore Drive, which sold for $147,900. The most expensive home sold was Lot 15 Deer Run, which sold for $1,300,000. The average living area of sold Holliston homes was 2,346 square feet. The average list price was $487,054. The average sale price was $484,556. Homes were on the market for approximately 44 days before an offer was accepted. The average list price was $216 per square foot.
When comparing the same time period one year ago, 104 homes had sold. That reflects an increase of 9 percent in the number of Holliston homes sold. Prices have decreased 10 percent since the same time period one year ago. Last year the average sale price was $532,516 compared to $484,556 this February through August. That is a 10 percent decrease in the sale price.
Some houses are still receiving multiple offers on homes, while others are taking a little more time to sell. One thing is for certain - the real estate market is always changing! Whether you are looking to sell your Holliston home or need assistance purchasing a home, we are here to help you navigate these exciting times in real estate. For a no-obligation market analysis, please call Miah at 508-446-4469 or Barbara at 508-277-6675. Our email addresses are firstname.lastname@example.org or email@example.com