Hopkinton MA Real Estate Market Report March 2013

Hopkinton Massachusetts Real Estate Market March 2013

Hopkinton MA Real Estate

 

 

 

 

 

 

Hopkinton MA Real Estate Activity For March 2013 vs March 2012

In March of 2012 there were 9 homes that closed within the month for Hopkinton MA Real Estate. This is the same amount of units, as there were 9 homes that closed March of 2012.

The Average list price for the homes that closed for March of 2012 was $489,489

The Average list price for the homes that closed for March of 2013 was $569,289

The Average sale price for the homes that closed for March of 2012 was $476,845

The Average sale price for the homes that closed for March of 2013 was $552,489

The Average Market time for the homes that closed for March of 2012 was 82 days.

The Average Market time for the homes that closed for March of 2013 was 129 days.

Homes Under Contract For March 2013

17 homes went under agreement in Hopkinton Massachusetts in the month of March. The average list price of the homes that went under agreement was $588,945. The average time on the market for these homes were 57 days. The number of homes going under contract was very strong for the March time frame. Additionally there is a very limited number of homes currently on the market. The real estate market however, has remained strong for this time of the year.

January 2010 – 2012 Final Year Real Estate Market Statistics For Hopkinton MA

In Hopkinton MA for the period of January to December of 2012 there were 203 properties sold.

In Hopkinton MA for the period of January to December of 2011 there were 147 properties sold.

In Hopkinton MA for the period of January to December 2010 there were 141 properties sold.

In Hopkinton MA 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.

In Hopkinton MA 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.

In Hopkinton MA 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 March Homes For Sale Inventory Levels

The are currently 51 homes on the market which is the same as last month. The average list price of these homes is $757,944. The average days on the market is 212. Current inventory is incredibly low at the moment. Average days on the market is being somewhat inflated 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 at the lowest they have been for as long as I can remember with 51 homes for sale. There were also 51 homes for sale last month as well. Inventory has remained low even though we are entering a time of year where typically more homes for sale enter the market. The inventory however, is exceptionally low compared to the norm. Closed sales at the end of 2012 were pretty decent and properties going under contract have kept pace with new homes hitting the market.

Lower inventory is always a good sign for those considering to sell their home. In fact over the last month it has become common place to see multiple offers and homes selling over asking price. There is no question it looks like the real estate market may have finally bottomed out and in certain pockets we are seeing price appreciation.

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 26 closed sales which is two 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.

To learn more about Hopkinton Massachusetts see the Hopkinton community guide.

Search Hopkinton MA Homes For Sale here.

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