Monson, MA

The ZIP code currently exhibits accelerated market conditions, characterized by strong demand indicated by a high pending ratio, despite modest listing price appreciation and a decline in new inventory.

The median listing price has shown a modest year-over-year increase of 3.3%, while the average listing price increased by 2.9%. Active listings have seen a significant year-over-year increase of 16.7%, reaching 21 units. However, new listings have sharply contracted by 75.0% over the past year, with only 4 units entering the market. Median days on market increased by 10.8% year-over-year to 41 days. The pending ratio stands at 0.62, representing a substantial year-over-year increase of 45.2%, with 13 pending listings. The share of price-reduced listings decreased by 9.8% over the past year to 22.6%. The median price per square foot experienced a slight year-over-year decline of 1.0% to $219.

The substantial year-over-year increase in the pending ratio, alongside a notable decline in new listings, suggests a market with increasing demand pressure. While active listings have increased, the significant reduction in new inventory may limit future choices. This environment favors properties that are well-positioned and priced appropriately, leading to a faster pace of transaction activity. Negotiating leverage shifts towards sellers due to inventory pressure and sustained buyer interest.

The average listing price of $531,350 is notably higher than the median listing price of $474,950, indicating that higher-priced properties exert an upward pull on the average. The median price per square foot is $219.