Framingham Massachusetts Real Estate Report December 2014
Do you want to see what has gone on in the Framingham Real Estate market for December along with year over year comparisons? Take a look below for complete details on the Framingham Real Estate market. While you are here also take a look at the Real estate agents guide to Framingham Mass to learn why the town is a popular choice with home buyers, including information on town history, schools, demographics and more.
Framingham MA Real Estate Activity For December 2014 vs December 2013
In December of 2014 there were 50 homes that closed within the month for Framingham Real Estate. This is an increase of 4 units sold, as there were 46 homes that closed in December of 2013.
The average list price for the homes that closed in December of 2013 was $358,890
The average list price for the homes that closed in December of 2014 was $388,860
The average sale price for the homes that closed in December of 2013 was $345,798
The average sale price for the homes that closed in December of 2014 was $383,644
The average market time for the homes that closed in December of 2013 was 69 days.
The average market time for the homes that closed in December of 2014 was 47 days.
Homes Under Contract For December 2014
28 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $400,786. The average time on the market for these homes were 83 days. December was a decent month for homes going under agreement.
January 2012 – 2014 Final Year Real Estate Market Statistics For Framingham Massachusetts
For the period of January to December of 2014 there were 500+ properties sold.
For the period of January to December of 2013 there were 500+ properties sold.
For the period of January to December of 2012 there were 473 properties sold.
For the period of January to December in 2014 the average list price was $380,466 the average sale price was $373,815 the average market time was 60 days.
For the period of January to December in 2013 the average list price was $368,219 the average sale price was $362,717 the average market time was 63 days.
For the period of January to December in 2012 the average list price was $338,711 the average sale price was $329,877 and the average market time was 99 days.
Current December 2014 Home For Sale Inventory Levels
The are currently 50 homes on the market in Framingham Massachusetts. The average list price of these homes is $541,220 The average days on the market is 167. Inventory levels dropped again last month by an incredible amount. While not as great a drop as the previous month, 22 homes came off the market. A fair amount amount of these homes are people who are taking their properties off the market for the winter and will re-try again in the spring.
Framingham MA Real Estate Market Analysis
Real Estate Re-cap for 2013
The Framingham Real Estate market for 2013 was nothing like in years past. In 2013 Framingham saw a complete turnaround with the market shifting from a buyers market to a full fledged sellers market. Not since 2005 did we see such a real estate frenzy especially in the early stages of 2013 through the Spring time.
The market was characterized by homes going under agreement very quickly. This was especially true if homes were priced under the $450,000 price point. Any way you want to measure the market 2013 was better than in years past. There were far more homes sold in 2013 in quite a long time. In fact it should be noted in the stats above where it says 500+ that there is not an exact figure because the multiple listing service does not track higher than 500 homes sold. That right there should tell you something. The other really note worthy statistic is the fact that the average days on the market was done by more than a month from 2012. Home took a much quicker time to sell. The average price for a home also increased.
What drove the market was the fact that inventory remained tight throughout the year. 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. Framingham was certainly one of the top performing towns in the entire Metrowest area this past year.
In 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 2012 there were 473 sales. There were more than 100 more sales in 2013!.
Analysis of current 2014 Framingham market.
Inventory had been trending upwards over the course of the end of the third quarter and into the 4th but took a dramatic turn downward over the last couple of months. This is attributable to lots of sellers taking their homes off the market for the winter and not an uptick in sales. Many of these homes taken off the market will appear again in the Spring.
Sales for the year mirrored very closely to what we saw in 2013. Overall the market was excellent. With inventory dropping as low as it has sellers are going to be in prime position once the spring market takes hold. I do not remember the last time inventory of homes for sale was so low in Framingham!
December was a very good month for closed sales. 50 properties closing in December is great as this time of year tends to be slower.
The amount of homes going under contract in December was not quite as good with 28.
Closed homes this year vs last
Framingham ended the year with over 500 sales. This was the case last year as well. The multiple listing service stops tracking the exact amount once the 500 sale mark is reached so I do not have the exact amount for each year.
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 Massachusetts homes for sale.