The Cohasset MA Real Estate Market Report for July 2023

Cohasset real estate market report

Cohasset real estate [sports] fans, today we will be examining the correlation between several key real estate metrics that are of utmost importance to both buyers and sellers in the Cohasset real estate market. By analyzing this data, I  hope to provide valuable insights that will keep you engaged and interested in the current state of the Cohasset MA real estate market.

Months of Supply

Firstly, let’s take a look at the Months Supply of Inventory, which currently stands at 2.87. This metric represents the number of months it would take to sell all the available homes if no new properties were added to the market. With a relatively low supply of inventory, it indicates that the market is favoring sellers. This scarcity of available homes may lead to increased competition among buyers, resulting in higher sale prices.

Moving on to the 12-month Change in Months of Inventory, we observe a significant increase of 42.08%. This percentage indicates the change in the supply of homes over the past year. A positive change suggests that the inventory of homes has grown, providing buyers with more options to choose from. However, this increase may also result in a more balanced market, reducing the advantage that sellers previously enjoyed.

Median Days on the Market

As we dive deeper into the data, we find that the Median Days Homes are On the Market is just 16. This metric represents the average number of days a property remains listed before it is sold. With such a short duration, it is evident that homes are selling quickly in this market. This information is crucial for both buyers and sellers, as it provides insight into the level of competition and the need for swift decision-making.
cohasset ma real estate market report

List to Sales Price Ratio

Next, let us examine the List to Sold Price Ratio, which

currently stands at 100.9%. This percentage represents the ratio of the final sale price to the original listing price. A value greater than 100% indicates that homes are selling above their initial asking price. This data suggests that buyers may need to be prepared to offer competitive bids to secure their desired property. Conversely, sellers can expect to receive a favorable return on their investment.

Median Sales Price

Lastly, the Median Sold Price for homes in this market is $1,575,000. This figure represents the middle point of all sold properties, indicating the market’s overall price range. This data is valuable for both buyers and sellers, as it provides them with a benchmark to compare their desired price or offer against. Sellers can use this information to set a competitive listing price, while buyers can assess if the market aligns with their budget.

In conclusion, we have analyzed several key real estate metrics that are instrumental in understanding the current market dynamics. The Months Supply of Inventory, the 12-Month Change in Months of Inventory, the Median Days Homes are On the Market, the List to Sold Price Percentage, and the Median Sold Price all provide valuable insights for both buyers and sellers. By being aware of these metrics, individuals can make informed decisions and navigate the real estate market with confidence.

Other blogs of interest:

A Guide to Pricing Your Home to Sell in Cohasset

The Benefits of Working with a Local Realtor in Cohasset

Reasons not to work with a top agent