Hopkinton Massachusetts Real Estate Market November 2014
Do you want to see what has happened in the Hopkinton Real Estate market for the month of November 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 November 2014 vs November 2013
In November of 2014 there were 7 homes that closed within the month for Hopkinton MA Real Estate. This is a decrease of 7 units, as there were 14 homes that closed November of 2013.
The average list price for the homes that closed for November of 2013 was $451,810
The average list price for the homes that closed for November of 2014 was $678,671
The average sale price for the homes that closed for November of 2013 was $446,727
The average sale price for the homes that closed for November of 2014 was $662,414
The average market time for the homes that closed for November of 2013 was 44 days.
The average market time for the homes that closed for November of 2014 was 53 days.
Homes Under Contract For November 2014
8 homes went under agreement in Hopkinton Massachusetts in the month of November. The average list price of the homes that went under agreement was $743,149. The average time on the market for these homes were 258 days. The number of homes going under contract for November was fair.
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 November Homes For Sale Inventory Levels
The are currently 55 homes on the market which is a decrease from last month when there were 65 homes for sale. The average list price of these homes is $732,085. The average days on the market is 194. 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 has been very strong with the number of sales bettering last year to this point. There have not been many lulls in the market activity until recently which is typical for this time of year. November was one of the worst performing months of the year so far with only 7 sales. During November of last year there were 14 sales. Over the last couple of months inventory levels have been fluctuating between 65 to 75 homes for sale. This month however there was a large drop in the number of homes for sale with ten less available.
As to be expected for this time of year showing activity has slowed quite a bit. This has been the case in a number of communities as the real estate market has taken a breather. Over the next couple of months the market will probably remain at the current pace of reduced sales figures.
Year to date sales data
Through November there have been 194 homes that have sold. At this point in time last year there were 178 sales so the Hopkinton market has continued to shine on a year over year basis.
The above statistics are for single family homes only and do not include condominiums and multi family properties.
Search Hopkinton Homes For Sale here.