February 10th, 2023 5:33 PM by Christopher Terry
Inventory, or should I say lack of inventory continues to plague the single-family housing market in Fall River MA. Last year there were 27 new homes listed in January, this year 25, both years being well below the normal inventory levels. The median list price in January 2022 was $399,900, this year it was $429,900, up a little over 7% with days on market doubling to 60 days.
The median list price for pending sales was $374,000, in line with last January’s numbers, however the year over year days to an offer doubled to 38 days.
The number of units closed in January was down 26.7%, with a median sales price of $380,000, up just 1.9% from the previous January with days on market being just 23 days. What is interesting to note that the list price to sells price ratio that was 100% in January 2022 has dropped to 96.7% in January 2023.
Of course, all real estate is local, and this data is for all of Fall River, so let me know if you want to know more about what is happening in your neighborhood and if you like these updates, please like, and subscribe so you can stay in the know.
I’m Christopher Terry with EZ Home Search Real Estate and RememberYes, you can buy.Yes, you can sell.Yes, I can help.
*All information referenced shows median data from MLS PIN area market reports.