Hopkinton Massachusetts Real Estate Market July 2013
See what has gone on in the Hopkinton Real Estate market for the past month along with year over year comparisons. Learn why buying real estate in Hopkinton is a popular choice of many home buyers relocating into the Metrowest area.
Hopkinton MA Real Estate Activity For July 2013 vs July 2012
In July of 2012 there were 20 homes that closed within the month for Hopkinton MA Real Estate. This is a decrease of 5 units, as there were 25 homes that closed July of 2012.
The Average list price for the homes that closed for July of 2012 was $632,344
The Average list price for the homes that closed for July of 2013 was $633,855
The Average sale price for the homes that closed for July of 2012 was $614,268
The Average sale price for the homes that closed for July of 2013 was $629,325
The Average Market time for the homes that closed for July of 2012 was 128 days.
The Average Market time for the homes that closed for July of 2013 was 35 days.
Homes Under Contract For July 2013
10 homes went under agreement in Hopkinton Massachusetts in the month of July. The average list price of the homes that went under agreement was $530,950. The average time on the market for these homes were 76 days. The number of homes going under contract was not nearly as good for July as the previous months. Real Estate activity has slowed considerably since the frantic pace of the Spring market.
January 2010 – 2012 Final Year Real Estate Market Statistics For Hopkinton MA
For the period of January to December of 2012 there were 203 properties sold.
For the period of January to December of 2011 there were 147 properties sold.
For the period of January to December 2010 there were 141 properties sold.
For the period of January to December in 2012 the average list price was $574,394, the average sale price was $559,617, 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 market time was 102 days.
For the period of January to December in 2010 the average list price was $558,825 the average sale price was $541,061 and the average time on the market was 107 days.
Current July Homes For Sale Inventory Levels
The are currently 61 homes on the market which is a pretty significant increase of fourteen homes from last month. The average list price of these homes is $671,251. The average days on the market is 174. Current inventory while jumping quite a bit from last month is still quite low on a historical perspective. Average days on the market is being inflated quite a bit by new construction “to be built homes.”
Hopkinton MA Real Estate Market Analysis
In 2012 the Hopkinton Real Estate market was very different than the previous two years. There was a substantial gain in the number of homes sold. Sales volume was up about 20% over each of the prior two years. Homes priced properly went under contact in a 60-90 day window with the average time being around 4 months. The upper end of the market remained week with market value erosion still present. The lower end of the market (under 500k) was incredibly strong with values holding more steady and in some cases rising slightly.
Current home inventory levels have remained very low for many months starting around the Fall of last year and continuing through the Spring and Summer of 2013. Inventory has started to rise a bit so it will be something to watch. Homes for sale in Hopkinton have going under contract as quickly as they hit the market throughout most of this year. In fact over most of the Spring, numerous homes have sold in under a week with multiple offers and sales prices in many cases being over asking! Low home inventory combined with attractive interest has been the driving force behind a much different real estate market this year.
Lower inventory is always a good sign for those considering to sell their home. There is no question that this year the real estate market has taken a sudden turn for the better with market values increasing quite a bit. What will be interesting to see going forward is if it continues. The market in July took somewhat of a breather from the frantic pace we experienced through much of the Spring.
Home sales in Hopkinton finished the year strong completely crushing the totals from last year. For 2012 there were 203 sales! In 2011 there were only 147. This is obviously a substantial difference in the amount of sales.
So far year to date there have been 104 closed sales which is ten less than last year at this time.
The above statistics are for single family homes only and do not include condominiums and multi family properties.
Search Hopkinton Massachusetts Homes For Sale here.