Ludlow, MA

The housing market in ZIP Code 01056 is currently Very Competitive. While the median listing price shows a recent decline, significant year-over-year growth persists. A robust pending ratio indicates strong demand absorption, despite increases in both active and new listings.

The median listing price in ZIP Code 01056 settled at $471,175, representing a 12.7% month-over-month decrease but an 11.2% increase over the past year. Active listings have risen to 32, a 16.4% year-over-year increase, complemented by 28 new listings, up 16.7% from the prior year. Median days on market extended to 30, a substantial 130.8% increase over the past year. The share of price-reduced listings is 9.4%, showing an 8.0% contraction year-over-year. Pending listings stand at 34, yielding a pending ratio of 1.06, an 86.3% rise over the past year. The median price per square foot is $261, a 3.6% decrease from the prior year.

The high pending ratio of 1.06 suggests strong absorption of available inventory, indicating that properties are moving quickly from active to pending status. While active and new listings have increased, the rapid conversion to pending sales points to sustained buyer interest and competition. The extended median days on market, however, may signal that buyers are taking more time to consider offers, or that some properties are remaining on the market longer despite overall strong demand. The year-over-year growth in median listing price highlights prevailing price discipline, even with a recent month-over-month adjustment.

The average listing price of $527,271 significantly exceeds the median listing price of $471,175, indicating a notable presence of higher-priced properties within the market. Median price per square foot is $261, reflecting the market value efficiency on a size-adjusted basis for the overall market, though specific luxury segment metrics are unavailable.