While home prices statewide increased through the first five months of 2015, the median price of a single-family home in Duxbury, Massachusetts declined 8.8 percent during the same period, according to data compiled by the Massachusetts Association of Realtors.
The median price of a single-family home was $520,000 through May compared to $570,000 during the same five-month period in 2014. The median price decreased 18.4 percent in May to $506,000 compared to $620,000 in May 2014.
Single-family home sales through May declined 44.1 percent to 38 from 68 homes sold during the same five-month period in 2014. Home sales also decreased in May to 13 homes sold compared to 22 sales in May 2014. Pending sales – homes under agreement that have yet to close – increased in May to 37 from 26 pending sales in May 2014, a 42.3 percent increase. Through May pending sales declined 11.5 percent to 92.
Bucking the statewide trend, Duxbury saw an increase in the months supply of inventory for single-family homes in May. While many cities and towns in Eastern Massachusetts have less then three months of inventory, and some have less than one month supply of inventory, Duxbury had 7.4 months supply of inventory in May. Months supply of inventory increased 35.8 percent in May. There were 107 single-family homes available in May. It's arguably a buyer's market in Duxbury.
New listings declined 15.4 percent to 44 from 52 new listings in May 2014. Through May new listings declined 12.2 percent to 159 from 182 during the first five months of 2014.
The average number of days on the market increased 73.1 percent in May and nearly 18 percent through May of 2015.
Home buyers paid on average 95 percent of the original list price in May and 93.8 percent of the original list price from January through May.
There were six condominiums sold in May and 11 sold during the first five months of 2015. There were nine pending sales in May.
The median price of a condo in Duxbury was $337,500 in May and $385,000 through May. Home buyers paid on average 98.3 percent of the original list price in May.