Hopkinton Massachusetts Real Estate Market December 2014
Do you want to see what has happened in the Hopkinton Real Estate market for the month of December along with year over year comparisons? Below you will see a comprehensive overview of the market in town for the past month, as well as year over year results. While you are checking out the Hopkinton Real Estate report have a look at a realtor guide to Hopkinton MA Real Estate . See why Hopkinton is a popular choice of many home buyers relocating into the Metrowest area!
Real Estate Activity For December 2014 vs December 2013
In December of 2014 there were 12 homes that closed within the month for Hopkinton MA Real Estate. This is an increase of 5 units, as there were 12 homes that closed December of 2013.
The average list price for the homes that closed for December of 2013 was $518,019
The average list price for the homes that closed for December of 2014 was $597,491
The average sale price for the homes that closed for December of 2013 was $510,663
The average sale price for the homes that closed for December of 2014 was $589,387
The average market time for the homes that closed for December of 2013 was 54 days.
The average market time for the homes that closed for December of 2014 was 127 days.
Homes Under Contract For December 2014
9 homes went under agreement in Hopkinton Massachusetts in the month of December. The average list price of the homes that went under agreement was $568,747. The average time on the market for these homes were 39 days. The number of homes going under contract for December was decent considering season.
January 2012 – 2014 Final Year Real Estate Market Statistics For Hopkinton MA
For the period of January to December 2014 there were 207 properties sold.
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 in 2014 the average list price was $608,243, the average sale price was $596,163, the average market time was 77 days.
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.
Current December Homes For Sale Inventory Levels
The are currently 56 homes on the market which is an increase from last month when there were 55 homes for sale. The average list price of these homes is $697,332. The average days on the market is 203. The average list price for homes right now is somewhat inflated due to the lack 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
The real estate market in Hopkinton this year was exceptional. It was one of the few tons in the area that ended the year with more sales than the previous year. There have not been many lulls in the market over the year until very recently which is very common for this time of year. December certainly was a decent month with 12 sales which was much better than November when there was only 7 sales. During December of last year there were only 7 sales so this was a good month compared to last year.
Over the last couple of months inventory levels have been fluctuating between 65 to 75 homes for sale. Inventory hardly flinched this month with only one more home for sale.
As to be expected for this time of year showing activity has slowed quite a bit. Over the next couple of months the market will probably remain at the current pace of reduced sales figures.
Year to date sales data
Hopkinton ended the year with 207 single family homes being sold. Last year there were 185 so Hopkinton had an exceptional year for real estate sales.
The above statistics are for single family homes only and do not include condominiums and multi family properties.
Search Hopkinton Homes For Sale here.
See what took place in the Hopkinton real estate market for November 2014.