Top 10 MA Depreciation
Worst Market Crash… Predictions in history. Okay, I don’t know about history. But they were pretty bad predictions for the 2023 housing market. But not all markets saw home prices rise in Massachusetts.
As a matter of fact, 50 out of the 252 housing markets saw home prices going down. And some of the names on the list may just surprise you!
In this video we are going to go over the top 10 markets for Single Family homes in Massachusetts that saw home prices GO DOWN in 2023. So how did we come about this data? We used the primary MLS in the state which is MLSPIN. We excluded any towns that had less than 30 sales in either 2022 or 2023 as that is not enough data for a complete analysis. And that is it. Now let’s get into the data!
Real quick. My name is Jeff Chubb and I am a retired investment banker turned real estate agent that has sold more than a 1,000 homes. If you have real estate questions, then I am here to help.
The 10th worst Single Family market in Massachusetts for 2023 was Merrimac, MA. Merrimac saw sales decline 30.8% to 36 units sold with an average sales price of $642,292. These are the Merrimac Homes For Sale. This sales price represented a 5.8% decrease in pricing from 2022’s average sale price of $681,874.
The 9th worst market in Massachusetts for 2023 was Southampton, Mass. Southampton saw the amount of home sales down a whopping 50.7% in 2023 as there were 34 homes sold compared to the 69 in 2022. The average sales price fell 5.9% to $466,918 which is compared to the $496,028 sales price in 2022.
The 8th biggest depreciating town in Massachusetts for 2023 was Carlisle. Carlisle had only two or 3.9% fewer home sales then in 2022 as it notched 50 single family homes sold. The average sales price would however fall 6.9% from $1.432 million in 2022 to $1.333 million in 2023. Curious about all the Carlisle Homes For Sale.
The 7th biggest loser in Massachusetts for 2023 was Cohasset, Mass. Cohasset saw a 34% decrease in sales to 59 units compared to the 90 units sold in 2022. Curious about what Cohasset Homes For Sale? The average sales price fell 7.1% from $1.74 million in 2022 to $1.617 million in 2023.
The 6th worst market in Massachusetts for 2023 was West Newbury. West Newbury saw a 7.7% decrease in sales with the 36 units sold in 2023 compared to the 39 in 2022. The average price however slipped 7.7% from $919,603 in 2022 to $848,974 in 2023. West Newbury is a beautiful town with a lot of West Newbury Homes For Sale.
The 5th worst market in the Bay State for 2023 was Newbury, Mass. Newbury sold 15.9% fewer homes with 53 closed in 2023 compared to the 63 in 2022. Prices in Newbury Homes For Sale were down 8.2% from $1.066 million in 2022 to $978,084 in 2023.
The 4th biggest loser in Massachusetts was West Boylston Homes For Sale which saw a 29.1% decrease in sales as they sold 39 units in 2023 compared to the 55 units in 2022. Meanwhile, prices were down 9.9% from $548,164 in 2022 to $494,154 in 2023.
And on to the top 3!
The third biggest loser in Massachusetts for 2023 was Dennis, Mass. Dennis had 31.4% fewer home sales with 142 homes sold in 2023 compared to the 207 in 2022. The 2023 average sales price for Dennis Homes For Sale was $733,429 compared to the 2022 sales price of $826,762. This means that home prices depreciated by 11.3% in 2023.
The second biggest loser in Massachusetts was Boxborough. Boxborough saw a 16.3% decrease in sales as 36 Single Family homes sold in 2023 compared to the 43 that sold in 2022. The average sales price would fall 12.4% to $902,388 from the $1.030 million in 2022. You can view all the Boxborough MA Homes For Sale.
And this leaves us with the biggest loser of 2023.
The town that saw the biggest levels of depreciation in the state of Massachusetts was the town of Lincoln. Sales wise, Lincoln held it’s own with 2022 as there were 42 homes sold in 2023 compared the 43 in 2022. But the average price did not fare so well… The average sales price in Lincoln was down 17.1% from $1.767 million in 2022 to $1.465 million in 2023. Take a look at all of the Lincoln MA Homes For Sale.
There were 200 markets in Massachusetts that saw housing prices go up… Be sure to catch our video of the top 10 appreciating towns in Massachusetts for 2023.
And let me know if you have any questions. You can drop me a line in the comment section below or I invite you to reach out to me as all my contact information is in the description below.
As always, I truly appreciate you keeping me in mind should you or anyone you know are thinking about buying or selling a home in 2024!
So until next time.