Monterey, MA

The market in ZIP 01245 is currently categorized as Very Weak. Significant year-over-year price growth is observed alongside elevated inventory and a declining pending ratio, indicating a substantial shift in market dynamics. New listing activity has ceased entirely in the most recent month.

The median listing price has increased by 69.8% over the past year, reaching $1,350,000, despite a 10.0% decrease in the most recent month. Active listings have risen by 71.4% year-over-year to 12 units. New listings are at zero, representing a 100.0% decline from the previous year. Median days on market have more than doubled year-over-year, increasing by 115.8% to 82 days. The share of price-reduced listings is currently 22.2%, matching the figure from the prior year. The pending ratio stands at 0.17, a decline of 11.9% from the previous year.

With a very low pending ratio of 0.17 and a substantial year-over-year increase in median days on market (up 115.8%), the pace of transactions has slowed considerably. Elevated active listing inventory, combined with the complete absence of new listings in the most recent period, indicates significant inventory pressure for sellers. Buyers are likely to encounter more opportunities for price discipline, given the extended marketing periods and the weakening pending ratio.

The average listing price of $1,647,091 exceeds the median listing price of $1,350,000, indicating a notable contribution from higher-priced properties. While the median price per square foot is $501, the overall market dynamics suggest that properties at the upper end of the price spectrum may experience longer market times and greater pressure on pricing discipline.