Orange, MA

The ZIP is currently Very Competitive, marked by a pending ratio above unity and declining inventory year-over-year. Despite these competitive indicators, median listing price and median price per square foot have experienced downward adjustments over the past year.

The market is exhibiting strong demand relative to supply, as evidenced by a pending ratio of 1.08, which has increased significantly by 96.6% year-over-year. Active listings have decreased by 29.4% over the past year, while new listings have fallen by 50.0% year-over-year, contributing to tighter inventory conditions. Median days on market increased by 21.8% year-over-year to 48 days. The median listing price has seen a modest month-over-month decrease of 0.6% and a more notable year-over-year decline of 2.3%. The median price per square foot is down 7.9% over the past year.

The pending ratio exceeding 1.0 suggests a rapid pace of transactions, with more properties under contract than actively available. This dynamic indicates significant inventory pressure, which generally favors sellers in terms of negotiating leverage. However, the year-over-year declines in median listing price and median price per square foot suggest that buyers may still achieve price discipline despite the competitive environment.

The average listing price of $367,543 is lower than the median listing price of $389,900, suggesting that higher-priced listings may be underperforming or represent a smaller share of current inventory. The median price per square foot stands at $213.