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April 6, 2020

Northbridge, MA Home Sales and Real Estate Market Report (April 2020)

April

The Northbridge Mass Homes For Sale Market Report and Statistics

Northbridge, where there are still some inexpensive homes, is still moving up.  If you get out into the Worcester burbs, where there is affordability, prices continue to move, as inventories really dry up.  Inventories have dried up 75% from 2011, which all in all is kinda amazing. 

Can’t see the chart? You can find it Here .

We see here also that transaction volume is down. Mildly, but down.  Still, the drop in inventories rules the day for the HSI. 

What should potential home buyers do in Northbridge ?

Reconize things are moving quickly, and homes in good condition are selling very fast.  Bidwars are common in Northbridge.

Find Your Next Home or Check out the Competition!

What should future home sellers do in Northbridge ?

For home sellers, the high prices of this cycle are on the table.  They might continue to move up - or not.  Things aren't crazy in Northbridge, but they are the best they have been in a decade. 

Northbridge Homes For Sale and Sold Market Statistics - MLS Data

  • The Northbridge “Home Seller Index” (HSI): 230 Last Report:179
  • There are 22 homes currently listed as For Sale by Home Sellers.
  • In Northbridge there have been 107 houses sold in the last 6 months, and 64 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 41 days for the last 6 months of SOLD homes In Northbridge.
  • Homes for sale have been looking for buyers for an average of 101 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 186 (vs.189 in the last report)
  • Current home sellers are looking for $ 203 /sq foot
  • There was an Average Sold Price of $381,539 .
  • Northbridge , MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Top Reads at Heisler & Mattson Properties

Posted in Northbridge MA
April 4, 2020

Northborough, MA Home Sales and Real Estate Market Report (April 2020)

April

The Northborough Mass Homes For Sale Market Report and Statistics

OK!  With the Natick chart behind us, we can start looking at the impact to the west.  Northborough, however, is pretty much in agreement with Natick.  Prices are down, and sellers are moving down also. 

Can’t see the chart? You can find it Here .

When we look at the detail data, its the drop in activity.  The HSI has dropped significantly, and part of it is that the market is a bit - just a little - more crowded, with homes sitting a little longer.  But the reason they are sitting is fewer buyers, or at least fewer motivated buyers.  This first quarter was really active, so these drops are a little surprising, even to me.  But they are there, and the data is the data.

What should potential home buyers do in Northborough ?

Obviously, if prices were to continue to fall, the play here is to wait it out for a bit.  But it's not obvious anything here is a definitive trend.  This could be the market returning to a more seasonal, less upward trending phase - or it could be the start of a pullback.  Neither is for sure with the data we have now. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Northborough ?

Prices are still good, but you can no longer just put a sign in the ground and get it to sell.  Buyers are getting pickier, and the prices of last year aren't here right now.

Northborough Homes For Sale and Sold Market Statistics - MLS Data

  • The Northborough “Home Seller Index” (HSI): 152 Last Report:137
  • There are 30 homes currently listed as For Sale by Home Sellers.
  • In Northborough there have been 87 houses sold in the last 6 months, and 44 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 61 days for the last 6 months of SOLD homes In Northborough.
  • Homes for sale have been looking for buyers for an average of 85 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 207 (vs. 225 in the last report)
  • Current home sellers are looking for $ 228 /sq foot
  • There was an Average Sold Price of $ $693,383 .
  • Northborough , MA, has 2 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Top Reads at Heisler & Mattson Properties

Posted in Northborough, MA
April 3, 2020

Natick, MA Home Sales and Real Estate Market Report (April 2020)

April

The Natick Mass Homes For Sale Market Report and Statistics

The all important Natick report.  There's some good information here, let's get to the price chart.

Even though inventories remain tight, prices have stablizied - in fact, they have retreated some.  Sellers are following the market down.  This is despite lower interest rates last year, which should have pushed prices, and tightening inventories. This certainly indicates that the run is over in Natick, at least for now.  

Can’t see the chart? You can find it Here .

The HSI looks good, as inventories remain tight.  But the transaction volume is falling, and that suggests that demand is weakening.  

What should potential home buyers do in Natick?

Recognize that the demand in this market is thinning.  Bidding wars are dying out. For underpriced homes, there will still be plenty of buyers and demand, but buyers are getting pickier and rational about housing. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Natick?

It may be that after COVID, we get a good buying bump.  But the peak for prices may have already passed, and more downward pressure is equally likely.  A surprising bump in foreclosures may be an indicator of price issues in Natick.

Natick Homes For Sale and Sold Market Statistics - MLS Data

  • The Natick “Home Seller Index” (HSI):  264 Last Report:176
  • There are 36 homes currently listed as For Sale by Home Sellers.
  • In Natick there have been 205 houses sold in the last 6 months, and 132 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 37 days for the last 6 months of SOLD homes In Natick.
  • Homes for sale have been looking for buyers for an average of 66 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 317 (vs. 321 in the last report)
  • Current home sellers are looking for $ 322 /sq foot
  • There was an Average Sold Price of $ 711,666 .
  • Natick, MA, has 2 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Top Reads at Heisler & Mattson Properties

Posted in Natick, MA
April 1, 2020

Millis, MA Home Sales and Real Estate Market Report (April 2020)

April

The Millis Mass Homes For Sale Market Report and Statistics

Millis has an unusual pricing trend.  The asking homes are selling for less, on average, than the homes that were just sold.  Why would this be?  Well, if homes that needed work weren't selling, and homes that were in move-in condition were, you'd see a trend like this.  Of course, it could just be that Millis is a small town and a few houses are messing up the data. 

Can’t see the chart? You can find it Here .

The HSI is still strong, so the problem isn't demand.  Homes are still selling quickly, and prices remain under pressure.

What should potential home buyers do in Millis?

Home buyers in Millis should be aware that it is a very small market, so certain houses will go very quickly.  It is good to have a secondary town if you are looking in Millis.

Find Your Next Home or Check out the Competition!

What should future home sellers do in Millis?

Home sellers will see homes selling at record prices, and strong demand at their open houses.  However, the data suggests that if you home needs substantial work, you may not attract strong bids - or any bids at all.

Millis Homes For Sale and Sold Market Statistics - MLS Data

  • The Millis “Home Seller Index” (HSI): 240 Last Report: 186
  • There are 14 homes currently listed as For Sale by Home Sellers.
  • In Millis there have been 60 houses sold in the last 6 months, and 35 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 31 days for the last 6 months of SOLD homes In Millis.
  • Homes for sale have been looking for buyers for an average of 37 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $244 (vs. $245 in the last report)
  • Current home sellers are looking for $ 233 /sq foot
  • There was an Average Sold Price of $491,357 .
  • Millis, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Top Reads at Heisler & Mattson Properties

Posted in Millis, MA
March 31, 2020

Medfield MA Home Sales and Real Estate Market Report (April 2020)

March

The Medfield Mass Homes For Sale Market Report and Statistics

I think this chart in Medfield is an excellent indicator of what I've been seeing anecdotally.  The last two years we've seen a marked decrease in enthusiam.  There's still enough buyers to push quick sales of homes, but where we would get 7 offers, then we would get 4, then two, and now just one or two.  The lack of intense competition - and the buyer's disregard for homes prices "too high" or outside of market parameters, gives you charts that look like this.

Note that the Sellers are the ones who have made the big moves here to come down to the market levels.  They buyers haven't budged, because they don't have to. 

Can’t see the chart? You can find it Here .

Along with that, we've seen a decrease in the HSO, from a peak of 220 to 170.  Still good!  Still enough to keep the market moving with such limited inventory.  But not enough transactions or sales to move the market up with the frenzied pace which has been many places the last few years.  

What should potential home buyers do in Medfield ?

Recognize the market is *rational*.  If you don't do your homework, you are likely to overpay.  It's not as competitive as you might think.  

Find Your Next Home or Check out the Competition!

What should future home sellers do in Medfield ?

It is still a good time to sell.  HOwever, if you over reach, you're likely to have a much longer sales cycle.  Fortuantely, most agents have enough data to price your home accurately, but if your home needs a lot of work,you may not get what you hope. Buyers are cutting back paid prices on homes that need renovations. 

Medfield Homes For Sale and Sold Market Statistics - MLS Data

  • The Medfield “Home Seller Index” (HSI): 170 Last Report:148 
  • There are 30 homes currently listed as For Sale by Home Sellers.
  • In Medfield there have been 87 houses sold in the last 6 months, and 49 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 46 days for the last 6 months of SOLD homes In Medfield .
  • Homes for sale have been looking for buyers for an average of 62 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $280 (vs. $285 in the last report)
  • Current home sellers are looking for $ 290 /sq foot
  • There was an Average Sold Price of $701,583 .
  • Medfield , MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Top Reads at Heisler & Mattson Properties

Posted in Medfield, MA
March 30, 2020

How will Real Estate and Home Sales be Affected by the COVID (Coronavirus) Shutdowns?

How will Real Estate and Home Sales be Affected by the COVID (Coronavirus)  Shutdowns?

Although the world of real estate isn't the most important (not by a long shot) impact area from the coronavirus, I thought I would capture the things I am seeing and the trends that are developing here, as its really the one I am most qualitifed to write about. 

Impact of COVID on Sellers

 We've already seen a significant - but not yet dramatic  - effect on listings.  Obviously, April/May/June are usually the peak of the seasonal activity in real estate, so this is coming at the big part of the year.  Home sellers have worries on a couple of fronts:  Will buyers not buy during this period?  Will sick people come inside my house?  Where do I go during showings? Each of these are hard to answer.  The easier answers are that Open Houses, for obvious reasons, are no longer happening across the vast expanse of real estate.  Some agents are trying to test out "virtual Open Houses" where the agents live stream a showing of the house - but that doesn't seem to me like it would be all that effective.  I've done that a few times, and it's really not the same.  You can't really trust the listing agent to show you what you need to see. Eventually your're going to need to see the house.

And agents, so far, are listing new properties and letting private showings - with small groups, typically 3 people - see the houses one at a time.  While not ideal, it is a reasonable precaution at this time.  Obviously, sellers are still counting on agents and buyers who don't feel well to self quarantine - someone who is clearly not feeling well shouldn't be out looking at houses - but there is still the chance asmptomatic folks could transfer the virus to the home owner if they aren't careful.  It is hard to quantify how serious this risk is, however.  Things get quite a bit easier if the home is vacant - with noone living in the property, that would really reduce the risk of transmission. Still, however, wipes for door knobs and handwashing would be important pre-cautions, and they would be hard to enforce. 

Impact of COVID on Buyers

I know some buyers are putting things on hold.  Some are just trying to do strict quarantine.  Some are optimistic the market (and prices) will turn in their favor (so far, not so much). In both cases they are putting things on hold.  If more buyers put things on hold then sellers, that will bring prices down, perhaps.  If more sellers put things on hold than buyers, then prices will go up.  With mortgage rates at amazing levels for buyers, housing has gotten cheaper, and buyers willing to deal with the risks of house looking may benefit. 

 

Impact of COVID on Closings

Currently, real estate closings are considered an essential service, so there should be minimal impact here, unless the various attorney offices have numerous and prolonged employee abcenses that affect the amount of work they can do. Things are evolving fast, and most deals are including COVD addendums that indemnify both parties from COVID related delays. 

 

Impact of COVID on Smoke Inspections

As of last week, the Massachusetts Govenenor, Charlie Baker, has issued an executive order that absolves sellers of getting smoke and CO certificates in the current environment.  This is likely to protect first responders, as much as anything.  Currently, buyers are expected to get the certificates and get re-imbursed by the sellers for the expense.  There are a lot of nuances to this, depending on whether you are a home seller or home buyer, and its gonig to cost some folks a lot of money depending on the type of deal they agree to.  Be careful, as this is truly new ground. 

 

Impact of COVID on Mortgages

Mortgages and lending, like closings, have been considered an essential service in Mass, and although many lenders are telling some employees to stay home, by and large a lot of the lending isn't affected. 

Conclusions

Ultimately, what happens to real estate prices will be sorted out by whether the decrease in buyers is greater than the decrease in sellers or vice versa.  For sure, there will be a decrease in transaction volume.  Longer term, it is unclear how big the 'rebound" in home sales might be, and until we know about when that is, it will be hard to predict.  It is probably a good working assumption that a fair amount of activity will be lost.  Whether that is 10% or 50% it is just too soon to tell. For good news updates on COVID 19, please check my running log here.

March 29, 2020

COVID -19 Good News Compilation

COVID Good News Compilation

Hello!  I've been getting a lot of questions (haven't we all) about COVID.  While the vast, vast, majority of the news published and printed and broadcasted is truly awful, (and a lot of that is justified), I've found it very difficult to find positive news on things that could change the tenor and response to the outbreak.  They are out there, but they are hard to find.  The negative news there is plenty of, so I won't be compiling those stories here. 

What do I mean, the tenor and response to the outbreak? Well the first thing to understand is that typically - in times of crisis - governments tend to limit and focus the amount of information disseminated.  This is done very specifically in times to control behavior.  Obviously, with the government (both Federal and State levels) understanding that there are (and will be) significant and terrible outcomes as COVID spreads, they have focused much on messaging to the public the basic, (if extreme feeling) and necessary social behavior changes (social distancing, staying at home, shutting down business, canceling public gatherings.) Note that many people - who were quickly villified on TV news - didn't at first get the severity of what is a very serious situation- and that media raced to castigate and shame these focus, in an effort to get us to understand what was necessary.  In order to keep the pressure on, media tends to focus on the main message, but there are some great things happening - truly inspiring, hopeful things - that have the potential to alter the direction of this crisis and bring it to a much quicker - and possibly less impactful - end.  THAT is what this compilation focuses on. Please understand that I have used (and will use) the word POTENTIAL.  The articles mentioned here are "green shoots" of grass, in an otherwise barren landscape.  Many of these articles are devoid of the detail that is necessary to understand them in context, so I have tried to summarize them in my own way.   Note, I am not a doctor or epidemiologist, so you can take these articles and read them yourself to determine their value. 

A note about the hopeful information

I am sticking to credible news sources, where the information is published in several sources.  Generally, the optimistic information is in one of a few areas.  First is Testing - which is critical to understand the scope of the virus and controlling its spread. Second is front line therapies - drugs that have the most potential to save lives quickly.  Obviously, a vaccine is a front-line therapy, but we don't have one and one may not be coming for a year. Still, articles that track the efficiacy and trials of the COVID Vaccine will be here.  Third is success stories.  There are not many of these in the US yet, if any, but there are some in other countires, notably China, and they are very hopeful about the impact and duration of the trials we now face.  I'll be updating these as we go, so bookmark the page if you want to follow along.

Stay Strong. 

 

Matt Heisler

COVID TESTING POSTITIVE DEVELOPMENTS

ABBOT LABS RAPID TEST (#1)

ABBOT LABS RAPID TEST (#2)

ABBOT LABS Rapid TEST (#3)

Why it's important

The Abbot Labs Rapid test allows for COVID testing in 15 mintues or less.  More importantly, the testing equipment is already in hundreds of hospitals, and I expect they will sell quite a few more machines.  This has an opportunity to dramatically increase the amount of testing that can be done daily, using a quick test.  It could easily, as the numbers suggest, double the testing capacity in the US, and perhaps even more than that.  It has the potential to test 50,000 people a day as soon as the first week of April, and while that testing will be spread out, could be a enormous increase over time. In fact, this one piece of news could completely solve the test bottleneck in a month or less.

What we don't know

Well, there's a lot we don't know.  We don't know where these machines are (if there is like 1 in NY, that would be bad, for example).  We don't know how fast abbot can make the machines.  We don't know the error rate on the test.  We don't know how quickly hospitals can staff up people to do 50,000 tests (or 100,000 tests) a day.  These test solve one problem, but what they do is likely move the bottleneck further down the line.  And we just don't know where that bottleneck will show up yet. 

COVID FRONT LINE TREATMENT POSTITIVE DEVELOPMENTS

Currently, there are no (zero) approved front line treatments for COVID, other than providing ventilators for those whose lungs are damaged and can no longer function adequately.   It should be obvious, but if we can get the number of people who require ventilators down, reduce the length of hospital stays, reduce the number of hospital stays, and/ or reduce the number of mortalties to that of H1N1 (swine flu), we will still have a crisis, but a far more manageable one. (H1N1 mortality was about .02%, or .0002. COVID is estimated at 2%, or .02, but many say that is too high and we won't know without more testing).  Key developments in front line treatments can have enormous impacts - if we can find them fast enough and disseminate them quickly enough.

Nitric Oxide as a front line treatment for coronaviruses (SARS and maybe COVID)

Why it's important

This is a very promising article on how the nitric Oxide - and perhaps viagra - might allow the lungs to increase function and airflow and hit the corona virus where it hurts.  Currently being investigated, but has the opportunity to become a front line treatment for first responders and those who are sick *very* quickly.  Previous studies showed promised against the last corona virus, SARS.   

What we don't know

We don't know the right dosing amounts or whether the therapeutic value will work with the most vulnerable, or how large the theraputic value will be.  The article goes in to large detail about the gaps in information we have. 

 

 

Plasma Anitbody Treatments

Why it's important

With a vaccine off in the distance, it would be a gamechanger if we can either protect the sickest patients or protect those who must be exposed - like nurses and doctors and other responders.  It should be remembered that 98% (and likely much higher) of all people exposed survive, and their blood has antiobides that "recognize" the virus.  They are now immune (as far as we know, but it is likely), and their antibodies can be transfered (via infusions) to healthy people who very likely either won't get sick, or won't get as sick.  

What we don't know

Lots! We don't know how effective such a treatment will be.  Will it protect 50% of the people who get the treatment and have them get 50% less sick?  Or 90% of the people who get the treatment get 20% less sick? Efficacy aside, we also don't know how quickly the antibodies can be gathered and infused to people.  Can we do 100 a day?  1000? 10,000?  Can the blood from one individual work for 100 people? So the scope of how widely this can be dissemintaed is the real question here. 

Obviously, if 90% of the people get 50% less sick, that would be HUGE.  Such an impact could halve the mortality rate, or even reduce it more than that. If 10% of the people get 10% less sick, than it probably won't have much of an impact.  However, there is reason to be hopeful: These treatments have had very good efficacy historically.

Anitbody Testing

Why it's important

Note that there are two types of tests that are important for COVID.  The first is testing for the VIRUS.  Then there is testing to see if you've already had the virus, by testing antibodies.  This article is about the second.  It is hugely important!  Those who have already been exposed probably can't get sick again - or give it to others directly.  Knowing who is exposed means you need to quarantine fewer people.  The quickest way back to normal will probably follow along the expansion of antibody testing, so any news in this area is worth watching.  

What we don't know

We don't know how accurate the test is, how fast it can be rolled out, and how many tests can be done a day.  All of those are TBD.

DYSON VENTILATORS

Why it's important

The current estimates show that we are going to be short of ventilators.  Anything that can be manufactured quickly (and cheaply) and is effective will dramatically increase the health care systems capacity to take care of the sick. 

What we don't know

We don't know if these ventilators are effective and if hospitals will use them.  We do know that he is hopeful they will be available in early April. If he can make 15,000 in two weeks, he can probably make 60,000 in another month. 

Chloroquine

Chloroquine #2

Why it's important

Choloquine is a drug that is used to treat malaria, and is used for some other purposes. It is already FDA approved, and a generic with multiple manufaturers, so if it is an effective treatment, it can quickly be manufactured and dispersed to protect those at risk who have contracted the virus.  Again, if 90% of the people on the drug get 80% less sick, it is a total game changer. 

What we don't know

We don't know if it will be effective.  Clinical trials are underway.  This could be a huge, huge, development, or a much more modest one.  The early France data is much to small for any definitive conclusions, but it is hopeful.

Low Cost Ventilators

MIT recently open sourced a low cost ventilaotr that manufactures could adopt. 

Why it's important

The current estimates show that we are going to be short of ventilators.  Anything that can be manufactured quickly (and cheaply) and is effective will dramatically increase the health care systems capacity to take care of the sick. 

What we don't know

We don't know if these ventilators are safe, if anyone will manufacture them, and if hospitals will use them.  All of that is TBD. The article is pretty clear that this is probably a "if you have no other choice" option. 

MASK STERILIZATION

Why it's important

Hospitals are using a huge number of masks in order to protect staff.  Previously, hospital protocol was to dispose of the masks, which meant that you needed new masks - but there wasn't enough manufacturing.  Now there is a process where the masks can be cleaned and reused, which will greatly reduce the manufacturing requirements, and greatly increase the number of responders who have safe equipment. 

What we don't know

We don't know how quickly these sterlizers can be disseminated, and how many masks can be cleaned.  The numbers are promising though.  

BCG Vaccine may offer partial Protection against COVID

BCG VAccine #2 - 10X protection

Why it's important

Some countries in Asia (and around the world) have mandatory TB vaccination.  Preliminary data suggests that those with the BCG vaccine offers protection to COVID, as the mortality rates in those countries seems to be better.  Notably, South Korea.  Several studies are underway. We do know that the USA doesn't have mandatory vaccination for TB, which is not good. The good news here especially is that if there IS a link, the vaccination could be widely disseminated as fast as they could make it, and there are manufactures for this vaccine, so that could happen relatively quickly (months, not years).  The latest articles suggest that the BCG vaccine offers 10X the protection against the virus.  That would be an enormous finding, and it is worth noting that this is a relatively easy study to do, as somone has already put together the BCG evidence.

What we don't know

The current data is still too small to draw definitive conclusions, but more studies are underway.  Also, there are many trials going on to see if you can measure effectiveness against certain populations (particularly the elderly).  We don't know exactly how long it would take to get millions (and likely tens of millions) doses just to protect the "at-risk" population.

 

COVID PROGRESS AND SUCCESS STORIES

4/6 -New Cases, New Admissions, and Deaths all down in NY

Syracuse has an excellent web page showing the current trends for NY.  It is worth noting that new admissions has fallen by 67%.  This may be temporary, or it may be significant, but it is certainly encouraging.  

Case Trends in Hard Hit Countries

The New York Times has a good graphic that show logarithmic rates of new cases.  Skipping over the math, what you want is to see the trendlines flattening out.  This happened in China, to the point where they have few cases to report each day.  You'll see on the graph that Italy, the US, and France have just started to flatten out.  Hopefully, as social distancing and lockdowns enter their thrid weeks, we'll see significant flattening this week. 

COVID Death Rate Less than Earlier estimates

The updated study says the death rate from Covid is about half what the current estimates are, as more accurate asymptomatic carriers are included in the data.  .66% as opposed to 1.6%.  The flu fatality rate is .1%, making COVID about 6x more deadly.  (But again, this is good news, as the expected mortality rate is cut in half with this study.)

Posted in For Realtors
March 29, 2020

Real Estate Condo Sales for Ashland, MA (Mar, 2020)

Condos For Sale in Ashland Market Report

Ashland condos kinda tell an interesting story, but you wouldn't see it from this graph.  This graph shows a slightly increasing market, with not much of interest behind it. 

Can’t see the chart? You can find it Here .

This chart, however, is a little different.

This chart shows that demand for condos is sky high.  Prices should be rising much faster.  Why aren't they?

Well - that's not really a data question.  The data doesn't have the answer.  But the answer I would give is that Ashland condos have reached "max affordability".  The ability for prices to go up is dependant on the consumer to make more money - they are pegged to income increases.  Consumers are already "maxing out" and don't have the ability to pay any more - or they would. 

What should active condo buyers do in Ashland?

Recognize that the market is very competitive.  COVID aside, where we really don't have any current data, there are way too many buyers lookign for condos  - and the prices may not prove to be rational if there is a pull back.  Caution is warranted. 

What should potential condo sellers do in Ashland?

Sell!  Top prices in Ashland means now is your time to cash out.  If you're a landlord, this is a great time for a 1031-exchange, where you can max out here and get into a property that has a much better cash on return profile. 

 

Top Reads at Heisler & Mattson Properties

 

Ashland Recent Condos For Sale and Sold Market Statistics - Raw MLS Data

  • Ashland’s “Condo Seller Index” (CSI): 361 Last Report:232
  • There are 10 homes listed as For Sale.
  • There have been 89 houses sold in the last 6 months, and 47 homes sold in the last 3 months in Ashland .
  • The Average number of Days on Market was 31 days for just SOLD homes.
  • There is an Average Market Time of 111 days of the Ashland homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged 235  (vs. 228 )
  • Current sellers are looking for 259 $/sq foot
  • There was an Average Sold Price of $ 432,000 for sold homes.
  • Ashland, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

 

*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary, and is designed to offer town-by-town information, instead of large scale trends. (That means you won’t find it anywhere else. Take that, Case-Schilling!).

Nov. 11, 2019

Milford, MA Home Sales and Real Estate Market Report (Nov, 2019)

 

Nov

The Milford Homes For Sale Market Report

I'm still seeing some leveling out in Milford.  Asking prices are the same as paid prices, but inventories are up. 

Can’t see the chart? You can find it Here .

Now, you could argue that inventories aren't really elevated very much, given where they were in 2010/2011. And you'd be right.  So the market is still positive.  But the trend lines show every indication that price pressures are abating.  Might this reverse in spring?  It could.  Too soon to tell.

What should potential home buyers do in Milford?

With elevated inventories, it's a little easier to find what you want.  Not easy - but not as hard.  With prices flattening, there are fewer bid wars also.  A good time to take advantage of some market softness  - that could be temporary.  

Find Your Next Home or Check out the Competition!

What should future home sellers do in Milford?

Home sellers will still benefit from record prices.  Just be aware, the home buyer is more focused on condition, so you'll need to have your property looking its best to take advantage of that demand. 

Milford Homes For Sale and Sold Market Statistics - MLS Data

  • The Milford “Home Seller Index” (HSI):272 Last Report:238
  • There are 41 homes currently listed as For Sale by Home Sellers.
  • In Milford there have been 184 houses sold in the last 6 months, and 107 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 23 days for the last 6 months of SOLD homes In Milford .
  • Homes for sale have been looking for buyers for an average of 71 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 199 (vs. 190 in the last report)
  • Current home sellers are looking for $ 199 /sq foot
  • There was an Average Sold Price of $ $379,496 .
  • Milford, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

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Posted in Milford, MA
Oct. 22, 2019

Fall Clean Up Check List

That chill in the air means Fall is here!  While most of us want to be outside to enjoy the crisp air and the lovely colors from nature, there are some things to do before Big Bad Winter comes a-knocking.  

September

Check Your Furnace

  • If you have oil heat, and many of you do, make sure to get that burner serviced before we have the first real cold snap.  Most heating companies are plenty bored in August, and that's a good time to book them.  They don't just check your furnace out, but they change the oil  filters and make sure it's operating efficiently.  The filters are super important for the rare case when you run out of oil, so keeping them fresh is a great idea.
  • Even if you have gas heat, make sure you're getting your heat exchanger looked at from time to time.  While they require less maintenance, that doesn't mean "no" maintenance. When they go, it could create an unsafe condition.  

Fix any cracks in your driveway

The freeze/thaw cycle of the fall and winter can really speed up driveway deterioration.  Keep yours from needing to be replaced with inexpensive patching products that keep the water out of those cracks. 

Check walkways, railings, stairs 

While we're outside, check those walkways and railings before it gets slippery.  Railings aren't just for looks! 

Drain Your Sprinkler System

Sprinkler repairs can get pricey, so it's good to get this one done early.  There's usually plenty of rain in the fall, so you probably don't need it till next spring. 

October

Prune Plants

Many trees and shrubs respond best to pruning in the fall.  Remember to keep them away from the house, to prevent insects, critters and even moisture from building up.  Also, keep them away from direct vent heating and your A/C condenser. 

Fertilize your lawn

This is the best time to feed your lawn!  A good feeding will ensure a quick start to the spring and help keep out weeds all next year.  

Check for drafts and make exterior repairs

With that first cool air, it's a good time to check for places where air (or critters) can find there way in. Seal them up to keep your heat in, and the animals out.  

Change your filters and check your smoke alarms

This is a good time to remember to check your smoke alarms and change any water filters you have in the house.  And if you have forced hot air, remember to change your air filters also.  Buy a good quality filter to catch as many particles and have your system be efficient.  A dirty filter cost you money!

November

Shut off exterior faucets and store hoses

Everyone can do this one!  That first frost can sneak up on you, don't let it ruin your hoses.  The proper way to shut off your exterior faucets is from inside - and then open the faucet up on the outside.  This is no fun in December, so do it while the sun is shining!

Test winter equipment

Yes, your snowblower should be checked to make sure the carburetor is working well and that you have gas and oil for it.  Don't let the first snowstorm be your first test! 

Bring your outdoor furniture in

Time to find a place in the basement for the outdoor furniture! 

Clean gutters and downspouts

OK, so the best time to do this is right around Thanksgiving.  Usually, by Thanksgiving, all the leaves are down, so you won't need to do this twice.  And, it's usually still above freezing.  Hurry up though!  They'll freeze solid in December, so you want to time this one right! 

Clean and Stow Your Mower

With the leaves down, the lawn will be done for the year.  If you just changed the oil in your snowblower, might as well get the same shirt dirty. 

Stock up on winter supplies

If you are fond of fires, make sure your firewood is ready to go.  Make sure you have plenty of Salt for the slippery spots.  Not sure what kind of salt to get?  That's OK, I have more information here.