Petersham, MA

The ZIP code currently presents a Stabilizing market condition. While the median listing price has shown significant year-over-year appreciation, this is accompanied by a notable increase in active listings and a high percentage of price reductions, suggesting a moderation in market velocity and price discipline.

The median listing price in the latest data increased 4.4% month-over-month and 49.8% year-over-year, reaching $767,500. Active listings have grown by 66.7% over the past year, with a total of 5 properties currently on the market. Median days on market extended by 62.2% year-over-year to 73 days, indicating a slower pace of transactions. A substantial 80.0% of listings have undergone price reductions, an increase of 30.0% compared to the prior year. The median price per square foot has seen a year-over-year decline of 16.1% to $250.

The extended median days on market and the high percentage of price-reduced listings indicate that buyers are exercising greater negotiation leverage. The increase in active listings suggests easing inventory pressure, allowing buyers more selection and time for due diligence. This combination points to a market environment where price discipline is becoming increasingly important for sellers.

The average listing price of $907,180 significantly exceeds the median listing price of $767,500, with a year-over-year increase of 60.2% for the average. This substantial spread suggests a segment of higher-priced properties disproportionately influencing the overall market valuation. With a median price per square foot of $250, the top-end of the market may be experiencing some pressure given the broader market dynamics.