Prices edge lower at Spruce Pond

2023 saw a surprisingly tepid performance for condo unit sale prices at the Spruce Pond Village Condos in Franklin, MA. The average sale price of condos at Spruce Pond ended the year at $509,553, off 0.9% from 2022’s all-time high.

Spruce Pond’s average sale price went on a tear in 2022, vaulting nearly 15 percent. The average annual sale price at the Spruce Pond Village Condos has risen just under 24% since 2020.

Longer-term view

The chart below shows how Spruce Pond’s average annual sale price has performed since 2004.

Units at Spruce Pond have enjoyed quite a run up in values since a 2012 low point during the Great Recession. Spruce Pond’s current average annual sale price stands 82% above the $280,300 low of 2012!

Sales volume rises

Six Spruce Pond units sold during the year, doubling the sales total of 2022.

One low sale skews sale price statistic

Of the six sales at Spruce Pond during 2023, one was so low that is drove down the annual average sale price.

59 Bayberry Common for $417,500, a huge discount off its original $500,000 asking price. The unit had its original kitchen and baths. Decor was dated and the heating and air conditioning systems were aged. The buyer paid cash.

If 59 Bayberry is removed from 2023’s sales, the average sale price of the remaining five units becomes $528,000, a 2.5% increase over 2022’s average sale price. Given the strong price performance in 2023 at other condo communities in Franklin, even a 2.5% gain at Spruce Pond is anemic.

Highest sales at Spruce Pond in 2023

Below are the two highest-priced Spruce Pond unit sales for 2023.

Both 57 Bayberry Common and 98 Highbank Road offered renovated kitchen and baths. The main difference between these two top sales at Spruce Pond for 2023 is that 57 Bayberry was an end unit with finished basement and a two-car garage, while 98 Highbank was a middle unit with a one-car garage and unfinished basement space.