Hopkinton Massachusetts Real Estate Market August 2014
Do you want to see what has happened in the Hopkinton Real Estate market for the month of August along with year over year comparisons? While you are looking over the Hopkinton Real Estate report make sure you also explore real estate found in Hopkinton MA. See why Hopkinton is a popular choice of many home buyers relocating into the Metrowest area! Take a look at the report to see what has transpired in Real Estate over the last month as well as year over year comparisons!
Real Estate Activity For August 2014 vs August 2013
In August of 2014 there were 23 homes that closed within the month for Hopkinton MA Real Estate. This is an increase of 1 unit, as there were 22 homes that closed August of 2013.
The average list price for the homes that closed for August of 2013 was $628,927
The average list price for the homes that closed for August of 2014 was $684,300
The average sale price for the homes that closed for August of 2013 was $616,700
The average sale price for the homes that closed for August of 2014 was $684,955
The average market time for the homes that closed for August of 2013 was 52 days.
The average market time for the homes that closed for August of 2014 was 46 days.
Homes Under Contract For August 2014
18 homes went under agreement in Hopkinton Massachusetts in the month of August. The average list price of the homes that went under agreement was $604,544. The average time on the market for these homes were 45 days. The number of homes going under contract for August was good. Activity in Hopkinton has remained steady.
January 2011 – 2013 Final Year Real Estate Market Statistics For Hopkinton MA
For the period of January to December of 2013 there were 185 properties sold.
For the period of January to December of 2012 there were 203 properties sold.
For the period of January to December 2011 there were 147 properties sold.
For the period of January to December in 2013 the average list price was $571,477, the average sale price was $562,153, the average market time was 78 days.
For the period of January to December in 2012 the average list price was $574,394, the average sale price was $559,617 and the average market time was 104 days.
For the period of January to December in 2011 the average list price was $559,057 the average sale price was $544,990 and the average time on the market was 102 days.
Current August Homes For Sale Inventory Levels
The are currently 65 homes on the market which is a decrease from last month when there were 71 homes for sale. The average list price of these homes is $771,372. The average days on the market is 185. The average list price for homes right now is not normal if you trace statistics back historically. This is due to the lower number of homes for sale.
Hopkinton MA Real Estate Market Analysis
Real Estate analysis for 2013
In 2013 the Hopkinton Real Estate market was extremely different. In fact not since the peak of the real estate market in 2005 have we seen such a different market. The first half of 2013 was reminiscent of years past when there were buyers fighting over homes. In fact in a number of cases homes that went on the market were sold in the first few days on the market. There were many occasions where there were multiple buyers bidding on the homes driving up the final sale price over asking.
The real estate market in 2013 essentially swung all the way from a buyers market to a full fledged sellers market. While there were less sales than the previous couple of years values were up and the amount of time it took to sell a home was down tremendously.
Current home inventory levels remained in a fairly tight range throughout the year which is a big reason why we saw the appreciation we did. Interest rates being at record lows and pent up buyer demand also played a role in the real estate turn around.
Homes for sale in Hopkinton throughout most of 2013 went under contract fairly quickly. While the Spring market this past year was blistering, the market has settled into what would be best described as more normal. Low home inventory combined with attractive interest rates has been the driving force behind a much of the improvement in the real estate market since last year and will more than likely be the similar this year. Lower inventory is always a good sign for those considering to sell their home.
The total number of homes sold in 2013 was 185 closed sales which was eighteen less than last year when there was 203.
Real Estate analysis for 2014
While the early part of the year started off slow, this is no longer the case as sales year to date have outperformed to the same point in time as last year. Sales and inventory for the most part have remained in balance with one another. Inventory had been starting to rise but was trimmed this month by 5 homes for sale. Inventory does bear watching however as it could impact the market months down the road in the slower selling season. Homes that are priced correctly are still moving at a brisk pace.
It would not be a surprise to see the market take a little bit of a breather as we enter a slower period of time for real estate sales. In fact, I expect volume to taper a bit moving forward.
Year to date sales data
Through August there have been 136 homes that have sold. At this point in time last year there were 127 sales so the Hopkinton market has performed better than last year in terms of the number of properties sold year to date.
The above statistics are for single family homes only and do not include condominiums and multi family properties.
Search Hopkinton Homes For Sale here.