Framingham Massachusetts Real Estate Report November 2013
Want to see what has gone on in the Framingham Real Estate market for November 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 November 2013 vs November 2012
In November of 2013 there were 39 homes that closed within the month for Framingham Real Estate. This is an increase of 8 units, as there were 31 homes that closed in November of 2012. The amount of closed sales in November 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 November of 2012 was $326,777
The average list price for the homes that closed in November of 2013 was $369,441
The average sale price for the homes that closed in November of 2012 was $318,682
The average sale price for the homes that closed in November of 2013 was $364,850
The average market time for the homes that closed in November of 2012 was 90 days.
The average market time for the homes that closed in November of 2013 was 53 days.
Homes Under Contract For November 2013
25 homes went under agreement in the month of November. The average list price of the homes that went under agreement was $376890. The average time on the market for these homes were 56 days. November was also an exceptional month for homes going under agreement as well.
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 November 2013 Home For Sale Inventory Levels
The are currently 84 homes on the market in Framingham Massachusetts. The average list price of these homes is $462,837. The average days on the market is 109. Inventory levels dropped by a pretty decent clip over the last month.
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 sixteen less homes for sale! As we head into December, inventory has continued to remain at ultra low levels which has made it a very competitive environment for buyers. 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.
It is common to see a decrease in activityonce we get into the latter part of the year that has not been the case in Framingham where they have completely bucked the trend. 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.
November was no different statistically than the rest of the year in Framingham. There were 39 closed properties for November which is a very strong figure for closed home sales. The amount of sales for this time of year don’t tend to be this strong but Framingham has has an amazing year. The amount of homes going under contract in November was decent as well with twenty five.
So far this year there have been 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! At this same point in time last year there were 433 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.