New Salem, MA

The residential real estate market in ZIP 01355 is currently classified as Very Weak. The median listing price has increased 6.0% over the past year, despite a 1.5% month-over-month decline. Active listings have risen sharply by 200.0% year-over-year, while the pending ratio stands at 0.17.

Over the past year, the median listing price in ZIP 01355 has increased by 6.0%, although the most recent month saw a 1.5% decrease. Median days on market have extended by 20.4% year-over-year to 53 days, indicating a slower pace of transactions. Active listings have seen a substantial 200.0% increase over the past year, reflecting an expanded inventory. There were no new listings reported in the most recent month, and the share of price-reduced properties remained at 0.0% year-over-year. The pending ratio is currently 0.17, with only one pending listing against six active listings, suggesting limited transactional velocity.

The current dynamics indicate limited negotiating leverage for sellers, given the significant year-over-year increase in active listings and a low pending ratio of 0.17. The extended median days on market further suggests a slower pace of buyer commitment. Buyers may find themselves with more time and opportunity for price discipline, as inventory pressure has demonstrably eased over the past year.

The average listing price of $534,800 is 9.7% higher than the median listing price of $487,450, indicating a segment of properties listed at higher price points. The median price per square foot is $271, reflecting the prevailing value per unit area in the market.