Framingham Massachusetts Real Estate Report December 2013
Want to see what has gone on in the Framingham Real Estate market for December 2013 along with year over year comparisons? Do you also want to discover why so many people consider buying realty in Framingham MA a popular choice when relocating into the Metrowest area? Take a look at all you need to know about the Framingham Real Estate market below.
Framingham MA Real Estate Activity For December 2013 vs December 2012
In December of 2013 there were 47 homes that closed within the month for Framingham Real Estate. This is an increase of 7 units, as there were 40 homes that closed in December of 2012. The amount of closed sales in December was outstanding, especially for this time of year which is usually much slower for home sales.
The average list price for the homes that closed in December of 2012 was $345,394
The average list price for the homes that closed in December of 2013 was $357,635
The average sale price for the homes that closed in December of 2012 was $337,188
The average sale price for the homes that closed in December of 2013 was $344,445
The average market time for the homes that closed in December of 2012 was 108 days.
The average market time for the homes that closed in December of 2013 was 69 days.
Homes Under Contract For December 2013
15 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $319,253. The average time on the market for these homes were 41 days. December was an average month for homes going under agreement which is to be expected give the fact that December is traditionally one of the slowest months of the year.
January 2010 – 2012 Final Year Real Estate Market Statistics For Framingham Massachusetts
For the period of January to December of 2012 there were 473 properties sold.
For the period of January to December of 2011 there were 394 properties sold.
For the period of January to December 2010 there were 429 properties sold.
For the period of January to December in 2012 the average list price was $338,711 the average sale price was $329,877 the average market time was 94 days.
For the period of January to December in 2011 the average list price was $333,048 the average sale price was $320,743 and the average market time was 99 days.
For the period of January to December in 2010 the average list price was $331,512 the average sale price was $322,233 and the average time on the market was 93 days.
Current December 2013 Home For Sale Inventory Levels
The are currently 70 homes on the market in Framingham Massachusetts. The average list price of these homes is $475,224. The average days on the market is 109. Inventory levels dropped by a pretty decent clip over the last month with fourteen less homes for sale.
Framingham MA Real Estate Market Analysis
In 2012 the Framingham Real Estate market had a substantial increase in the amount of homes sold as compared to 2011. This was one of the top performing towns in the entire Metrowest area! Homes priced properly generally moved on average in a 3-4 month time period. Real Estate values firmed quite a bit especially in the lower end of the market. This was especially true as we moved toward the latter part of the year as home inventory continued to drop. Home is the in the upper end of the market (over 500k) took a little longer to sell than those under this price point.
The average days on market was substantially similar to the previous two years although a little better in 2012. The lower end of the market (under 400k) remained strong with values holding firmer than in the upper ends of the market. Overall the Framingham MA Real Estate market has been fairly consistent over the last three year.
The Framingham real estate market was exceptional in 2012 especially when compared to some of the other local area towns. For 2012 the total number of sales was 473! In 2011 there were only 394 sales. This is about a 16% increase which is absolutely fantastic! There were not many towns that showed such an increase in sales volume. Framingham had a very good year! The market in 2013 has completely changed to a seller’s market.
Current home inventory levels dropped again from last month with a delta of fourteen less homes for sale! As we head into January, inventory has now shrunken to the lowest level in decades. In my twenty seven years in the business I do not ever remember inventory being this low. Sales have been exceptionally strong in Framingham this year. Framingham has seen one of the highest increases in the amount of homes sold in all of Metrowest.
Seeing a slow down in market activity of the latter few months of the year is not all that uncommon. Framingham however has completely bucked the trend and has remained strong through the beginning stages of the Winter. In many of the other local towns you can see a noticeable slow down. Homes this month sold as fast as they hit the market in most price points. Lower home inventory levels are always great for those considering to sell their home, as supply and demand is always a factor with Real Estate values.
December just as strong as the rest of the year when it comes to closed sales. There were 47 properties that closed in December which is a very strong figure for this time of year. The amount of homes going under contract in December was not quite as good with fifteen. All indications look like the Spring market will be similar to last year when homes were selling almost instantly.
So 2013 in Framingham there were over 500 home sales. In fact the multiple listing service does not show the amount of sales when it goes over 500 which is disappointing because I can’t show the exact amount! For 2102 there were 473 sales. There are more than 100 more sales so far this year which is absolutely incredible!
The above Framingham Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Framingham MA homes for sale.