Heath, MA

The local market exhibits signs of acceleration driven by a constrained supply environment and an elevated pending ratio. While median listing prices have seen a recent increase month-over-month, the year-over-year trend remains negative. Days on market have lengthened considerably, suggesting that buyer demand, while present, may be discerning.

Active listings have halved over the past year, reflecting significant inventory pressure. New listings are currently absent, further exacerbating the supply shortage. Despite this contraction in available homes, the median listing price shows a 1.6% increase from the prior month, although it remains down by 14.1% over the past year. The median price per square foot has also declined 7.4% year-over-year. Median days on market have surged by 79.7% over the past year, indicating a slower absorption rate for available inventory.

The elevated pending ratio of 0.67, representing a 50.0% increase year-over-year, suggests a notable increase in properties moving under contract relative to active listings. This creates upward pressure on pricing and limits buyer optionality. However, the significantly extended median days on market implies that buyers are exercising greater price discipline, preventing rampant appreciation despite low inventory. Negotiations may reflect a balance between strong buyer intent and an emphasis on valuation.

The average listing price mirrors the median listing price at $321,950, with a negative 4.5% year-over-year change, indicating no significant divergence between the general market and potential higher-end offerings within this limited sample. The median price per square foot stands at $180, reflecting overall market pricing for residential space.