Framingham Massachusetts Real Estate Report July 2013
See what has gone on in the Framingham Real Estate market for July 2013 along with year over year comparisons. Learn why buying real estate in Framingham is a popular choice of many home buyers relocating into the Metrowest area.
Framingham MA Real Estate Activity For July 2013 vs July 2012
In July of 2013 there were 71 homes that closed within the month for Framingham Real Estate. This is an increase of 23 units, as there were 48 homes that closed in July of 2012. The amount of closed sales in July was exceptionally strong for this time of year.
The average list price for the homes that closed in July of 2012 was $350,656
The average list price for the homes that closed in July of 2013 was $394,920
The average sale price for the homes that closed in July of 2012 was $343,694
The average sale price for the homes that closed in July of 2013 was $390,176
The average market time for the homes that closed in July of 2012 was 84 days.
The average market time for the homes that closed in July of 2013 was 36 days.
Homes Under Contract For July 2013
45 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $356,578. The average time on the market for these homes were 49 days. July was a good month for homes going under contract.
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 July 2013 Home For Sale Inventory Levels
The are currently 114 homes on the market in Framingham Massachusetts. The average list price of these homes is $454,421. The average days on the market is 91. Inventory levels increased ever so slightly from last month and are still incredibly low!
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 years.
Current home inventory levels increased slightly over the last month as we head out of the Spring and early Summer market which is always the best time of year to sell property. As we head into August, inventory continues to remain very low which has made it a very competitive environment for buyers. Sales have been exceptionally Strong in Framingham this year with the amount of homes sold significantly higher than last year at this time.
Usually during the Summer months we tend to see a decrease in activity. In some of the surrounding towns this has happened already. Not so in Framingham! 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.
July was an absolutely stunning month for closed home sales! There were 71 closed properties for July which is just amazing. July typically has a fair amount of closed sales but 71 is mind boggling. The amount of homes going under contract in July was also strong with 45.
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.
So far there have been 326 home sales to date this year. At this same point in time last year there were 275 sales.
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.