Despite a dramatic rise in real estate prices statewide in 2020, the median price of a single-family home in Ashland, Massachusetts declined last year, according to data compiled by the Massachusetts Association of Realtors.
The median house price fell 2.9 percent to $488,000 from $502,500 in 2019. Statewide, median home prices jumped 11.4 percent in 2020 to $460,000 from $413,000 in 2019. Despite the overall decline in median prices, Ashland homebuyers paid, on average, 102.3 percent of the original list price in 2020.
Single-family home prices fell 15.1 percent to $515,000 in December from $606,500 in December 2019. There were 17 single-family sales, an 88.9 percent jump from only nine houses sold in December 2019. In December, homebuyers often paid at or above the listing price, spending, on average, 103.2 percent of the original list price in December 2020.
The median price of a single-family home in Ashland was $465,000 in 2018, $440,000 in 2017, and $368,000 10 years ago in 2011. The 2008 financial crisis hit the Ashland real estate market hard. The median house price in 2009 was $329,900, a 21.6 percent decline from $420,600 in 2008.
[Related: Acton, MA Home Prices, Sales Mixed in 2020]
At the end of December 2020, homebuyers only had six homes to choose from in Ashland, two less than December 2019. There was less than one month of inventory in December, a 28.6 percent decline from December 2019. About six months of inventory is considered a balanced market between home buyers and home sellers.
The median condo price in December fell 3.8 percent to $385,000 from $400,000 in December 2019. In December, condominiums sold for 102.3 percent of the original listing price.
Condo sales in 2020 dropped 5.1 percent to 131 units closed. The number of condos sold in December declined by two to 11. Only three condominiums were available in Ashland on December 31, 2020, down 82.4 percent from December 2019. Just 0.3 months of inventory remained on the market, an 80 percent decline from 1.5 months in December 2019.