Charlton, MA

The ZIP code is currently experiencing Very Competitive market conditions. A high pending ratio, significantly elevated year-over-year, indicates robust buyer demand, despite a slight recent moderation in the median listing price. Inventory remains constrained, suggesting sustained pressure on available homes.

The median listing price, at $635,000, shows a marginal month-over-month decrease of 0.4%, yet retains a strong year-over-year gain of 14.4%. Active listings have declined by 7.7% year-over-year, while new listings have remained stable over the past year. Median days on market have extended by 24.1% year-over-year to 54 days. However, the pending ratio stands at 1.21, reflecting a significant year-over-year increase of 109.3%, indicating strong absorption of available properties. The share of price-reduced listings is 23.2%, a decrease of 4.4% year-over-year.

The substantial pending ratio of 1.21, coupled with a year-over-year increase of 109.3%, points to accelerated transaction paces and significant inventory pressure. The consistent year-over-year growth in median listing price, despite a recent fractional decline, underscores a market where purchasers are exhibiting less negotiating leverage. The increase in median days on market and the non-zero price reduction share suggest some discipline may be re-emerging, but the overall momentum remains firmly with rapid sales and competitive bidding.

The average listing price of $634,985 closely aligns with the median listing price of $635,000, suggesting a relatively uniform distribution of listing values without significant outliers skewing the average. The median price per square foot is $280, reflecting an increase of 7.6% over the past year.