Williamstown, MA

The Williamstown market currently registers as Very Weak, characterized by significant year-over-year declines in new listings and the pending ratio, alongside notable price reductions. While the median listing price has increased year-over-year, other indicators point to decelerating demand.

The market is experiencing a significant contraction in new supply, with new listings down 50.0% year-over-year. Active listings have also decreased by 10.8% over the past year. Despite a 21.7% year-over-year increase in the median listing price, the median price per square foot has declined by 7.9% year-over-year, suggesting a shift in pricing dynamics. The pending ratio has fallen by 17.6% year-over-year to 0.12, reflecting reduced transactional velocity. Days on market remain relatively stable with a slight 1.3% year-over-year decrease to 76 days, yet the share of price-reduced listings has climbed significantly by 13.8% over the past year to 28.6%.

Reduced transactional velocity, as indicated by the declining pending ratio, coupled with a rising share of price reductions, suggests that buyers have increased leverage. The significant year-over-year decrease in new listings, while typically supportive of prices, is here overshadowed by weakening demand signals. This environment points to a need for greater price discipline from sellers and slower absorption rates.

The average listing price of $758,935 significantly exceeds the median listing price of $639,000, indicating a segment of higher-priced properties in the market. This spread highlights the presence of luxury inventory. The median price per square foot is $314, which, while down 7.9% year-over-year, still represents a premium for top-tier properties within this segment.