Deerfield, MA

The Deerfield market is currently experiencing a cooling trend, characterized by declining pricing metrics and a high proportion of price reductions. Limited transaction volume and extended time on market contribute to a less active environment.

The median listing price has seen a notable year-over-year decline of 20.0%, with a more modest 2.0% decrease in the most recent month. Similarly, the median price per square foot is down 25.1% over the past year. While active listings remain stable year-over-year at 3 units, the median days on market has substantially increased by 150.0% annually, indicating properties are taking significantly longer to sell. The absence of new listings and a high price-reduced share of 100.0% further reflect reduced demand.

The current market dynamics suggest that buyers have a greater degree of negotiating leverage, primarily due to the extended median days on market and the universal price-reduced share of 100.0%. This environment implies that properties are not selling at their initial list prices, and sellers are demonstrating price discipline to attract offers. The low pending ratio of 0.33 indicates limited immediate transaction pressure, allowing buyers more time for due diligence.

The average listing price of $586,600 significantly exceeds the median listing price of $479,900, suggesting a notable premium commanded by properties at the higher end of the market. However, the overall declining price trends, including a 6.0% year-over-year decrease in the average listing price, indicate that even the upper tier is subject to the broader market cooling.