Florence, MA

The Florence, MA housing market is currently Very Competitive. A pending ratio of 1.39, representing strong year-over-year growth, indicates substantial demand relative to available supply. While active and new listings have seen significant increases over the past year, median listing prices show a slight year-over-year decline, alongside a notable month-over-month surge.

Active listings have increased by 135.7% over the past year, with new listings up 140.0% in the same period, suggesting an influx of inventory. However, the pending ratio has risen by 125.1% year-over-year, indicating robust underlying demand. The median listing price demonstrates divergent trends, with a 51.9% increase month-over-month contrasting with a 1.1% decline over the past year. Median days on market increased by 52.8% year-over-year, while the share of price-reduced listings decreased by 2.4% over the past year.

The substantial pending ratio suggests that buyers are facing considerable competition, leading to a fast pace of transactions. Despite the increase in new listings, the strong demand is likely creating inventory pressure, limiting opportunities for price negotiation. The notable month-over-month price increase indicates that sellers are currently able to maintain price discipline.

The average listing price ($677,635) is closely aligned with the median listing price ($674,900), suggesting a relatively uniform market without a distinct luxury segment driving the average significantly higher. The median price per square foot is currently $324, experiencing a modest year-over-year decrease of 1.8%.