Monroe Bridge, MA

The Monroe Bridge market is currently Cooling, characterized by a significant year-over-year decline in median listing price and median price per square foot. Inventory has increased substantially over the past year, contributing to a more balanced environment, though pending activity remains limited.

The median listing price has observed a notable year-over-year decrease of 30.2% to $450,000, accompanied by a 44.4% year-over-year reduction in median price per square foot to $239. Active listings have risen sharply, showing a 300.0% increase over the past year, resulting in 4 active listings. New listings were zero in the most recent month. Median days on market improved by 38.1% year-over-year to 120 days. The pending ratio stands at 0.25, with 1 pending listing, indicating a relatively low level of immediate buyer demand compared to available inventory. No price reductions were observed in the current period.

With a pending ratio of 0.25 and a substantial year-over-year increase in active listings, buyers currently face less urgency and have more options. The significant year-over-year price declines suggest sellers are exercising greater price discipline in a market with increased inventory pressure. The extended median days on market, despite its year-over-year improvement, also points to a slower pace of transactions.

The average listing price of $468,500 is only marginally above the median listing price of $450,000, indicating a relatively narrow price distribution. The median price per square foot is $239, reflecting the overall price contraction in the market over the past year.