Westford, Massachusetts, and Acton, Massachusetts, neighboring communities northwest of Boston in Middlesex County, skilled double-digit declines in single-family gross sales and modest median value development in 2023.
The 2 cities’ condominium markets went in numerous instructions in 2023 year-over-year. Whereas each communities noticed a major gross sales drop, Acton’s median condominium value rose 31 p.c. In Westford, MA, the median condominium value decreased 5 p.c on a median of solely seven gross sales per 30 days.
Each cities have been experiencing a good actual property market on the finish of December. There have been solely about two weeks of single-family and condominium stock in Acton. Westford had about one month of single-family and condominium stock. About 5 to 6 months of stock is taken into account a balanced market between house consumers and sellers.
The next are extra particular information factors for the Acton and Westford actual property markets in December and 2023, in keeping with information compiled by the Massachusetts Affiliation of Realtors.
December 2023 Single-Household Residence Market Information
Acton Pending Gross sales: Jumped 83 p.c (from 6 to 11).
Westford Pending Gross sales: Elevated 67 p.c (from 6 to 10). [Pending sales include properties under contract but have yet to close.]
Acton Closed Gross sales: Gross sales decreased by 8 p.c (from 12 to 11).
Westford Closed Gross sales: Homes bought decreased by 17 p.c (from 12 to 10).
Acton Median Gross sales Value: Costs rose 7 p.c (from $775,000 to $830,000 in December 2023).
Westford Median Gross sales Value: Home costs in December dropped by 22 p.c (from $787,000 to $612,500).
Acton Stock of Houses for Sale: Single-family homes on the market grew 20 p.c (from 5 to six).
Westford Stock of Houses for Sale: Homes on the market dropped by 13 p.c (from 16 to 14).
Acton Months Provide of Stock: Elevated from 0.3 to 0.4.
Westford Months Provide of Stock: Climbed from 0.9 to 1.0.
Acton Cumulative Days on Market Till Sale: Decreased from 20 to 18 days in December 2023.
Westford Cumulative Days on Market Till Sale: Barely elevated from 51 to 52 days.
Acton Proportion of Authentic Checklist Value Obtained: Residence consumers paid 108 p.c of the unique checklist value for single-family houses in December 2023 from 102 p.c in December 2022, probably a results of such tight stock.
Westford Proportion of Authentic Checklist Value Obtained: Residence consumers paid 98 p.c of the unique checklist value from 96 p.c.
Acton New Listings: In December, the variety of new listings decreased by 57 p.c (from 7 to three).
Westford New Listings: New listings dropped 67 p.c (from 6 to 2).
2023 12 months-Over-12 months Single-Household Residence Market Information
Acton Closed Gross sales: Gross sales decreased by 17 p.c (from 202 in 2022 to 168 in 2023).
Westford Closed Gross sales: Gross sales dropped 20 p.c (from 217 to 174).
Acton Median Gross sales Value: Single-family costs elevated by 3 p.c (from $875,000 to $900,500).
Westford Median Gross sales Value: Costs have been up barely by 1 p.c (from $791,000 to $800,000).
Acton Cumulative Days on Market Till Sale: Days in the marketplace elevated from 18 to 22 days (+ 22 p.c).
Westford Cumulative Days on Market Till Sale: Rose from 25 to 27 days (+ 8 p.c).
Acton Proportion of Authentic Checklist Value Obtained: Residence consumers paid 106 p.c of the unique checklist value for single-family houses, down from 108 p.c in 2022.
Westford Proportion of Authentic Checklist Value Obtained: Decreased from 104 p.c in 2022 to 103 p.c in 2023.
Acton New Listings: New listings all year long fell 19 p.c (from 227 in 2022 to 183 in 2023).
Westford New Listings: New listings declined by 22 p.c (from 239 to 187).
2023 v. 2022: Condominium Gross sales and Median Value
The median value of a condominium in Acton jumped 31 p.c in 2023 to $445,000 from $340,000 in 2022. Gross sales fell 30 p.c to 84 models bought in comparison with 119 in 2022.
The median value of a Westford condominium fell 5 p.c to $534,500 in 2023 on mild quantity from $562,000 in 2022. Gross sales fell 35 p.c to 44 models closed in comparison with 68 in 2022.