Framingham Massachusetts Real Estate Report May 2013
Framingham MA Real Estate Activity For May 2013 vs May 2012
In May of 2013 there were 64 homes that closed within the month for Framingham Real Estate. This is an increase of 26 units, as there were 38 homes that closed in May of 2012. The amount of closed sales in May was absolutely exceptional for this time of year.
The average list price for the homes that closed in May of 2012 was $357,924
The average list price for the homes that closed in May of 2013 was $347,892
The average sale price for the homes that closed in May of 2012 was $352,117
The average sale price for the homes that closed in May of 2013 was $344,246
The average market time for the homes that closed in May of 2012 was 122 days.
The average market time for the homes that closed in May of 2013 was 65 days.
Homes Under Contract For May 2013
101 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $372,635. The average time on the market for these homes were 48 days. May was an exceptional 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 May 2013 Home For Sale Inventory Levels
The are currently 100 homes on the market in Framingham Massachusetts. The average list price of these homes is $485,758. The average days on the market is 99. Inventory levels are down substantially over the last last month and are at the lowest levels they have been at in a decade!
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 dropped substantially over the last month as we are in traditionally what would be considered the best time of the year to sell a home. As we head into June, inventory is so low it has made it a very competitive environment for buyers. Sales have been very strong over the last few months with the market increasing in sales volume as we head deeper into Spring. Usually what happens during this time frame is an increase in inventory. The market however has been so strong that homes are selling as fast as they come on for sale. 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.
May was an incredible month for closed home sales! There were 64 closed properties which is a stunning amount of sales for May. While May is traditionally a time when you start to the amount of closed properties ramp up, sixty four would be considered beyond great. The amount of homes going under contract in May was absolutely mind boggling with 101!
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! All signs point to a market that may have hit bottom.
So far there have been 186 home sales to date this year. At this same point in time last year there were 161 sales.
For additional information on Framingham Massachusetts see the Framingham real estate guide.
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.