Holliston Real Estate: What’s the Deal?
As we look forward to 2017, we take an opportunity to look back on the last year in real estate. How did 2016 compare to years prior in terms of number of houses sold and median sales price? Is 2017 going to be a good time to be a buyer and/or a seller?
2016 was another strong performing year in the Holliston real estate market, and while it was not as strong as the previous year, this year shows some promising data for the future of the local market. The median sales price for single-family homes was down 13%, and the number sold was down by 10 units, or a 14% drop from last year.
2015, however, is a tough year to compete against! It was a standout year of the last decade, representing 42% growth over the previous year in terms of single-family homes sold, and a 16% rise in median sales price. New construction played a small role in that uptick; there were 23 new construction home sales in 2015, versus 16 in 2016.
Looking over the last ten years, the Holliston market has been steady, and not subject to wide pendulum swings in terms of price: the median home price in this time period is up only six percent, and the average sales price is separated by only $619. Incidentally, it is more relevant to look at median home values versus average, since median shows a more accurate view of the market since they are typically less affected by large deviations in the data. In 2016, only one home sold for less than $150k and only two homes sold for over $1 million.