Hopkinton Massachusetts Real Estate Market October 2013
See what has gone on in the Hopkinton Real Estate market for the month of October along with year over year comparisons. Learn why buying realty in Hopkinton MA is a popular choice of many home buyers relocating into the Metrowest area.
Real Estate Activity For October 2013 vs October 2012
In October of 2013 there were 16 homes that closed within the month for Hopkinton MA Real Estate. This is a decrease of 1 units, as there were 17 homes that closed October of 2012.
The Average list price for the homes that closed for October of 2012 was $527,365
The Average list price for the homes that closed for October of 2013 was $518,260
The Average sale price for the homes that closed for October of 2012 was $512,509
The Average sale price for the homes that closed for October of 2013 was $516,622
The Average Market time for the homes that closed for October of 2012 was 98 days.
The Average Market time for the homes that closed for October of 2013 was 68 days.
Homes Under Contract For October 2013
9 homes went under agreement in Hopkinton Massachusetts in the month of October. The average list price of the homes that went under agreement was $477,122. The average time on the market for these homes were 102 days. The number of homes going under contract for October was not bad for this time of year where the number of sales tends to decrease. Real Estate activity has slowed as we have gone into a time of year where traditionally that is the case.
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 October Homes For Sale Inventory Levels
The are currently 54 homes on the market which is a slight decrease from last month when there were two more homes for sale. The average list price of these homes is $702,367. The average days on the market is 191. Current inventory remains incredibly low in Hopkinton. 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.
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.
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. Inventory rose briefly for a period of time in July and August but has come down again as there are now fifty four homes for sale. Homes for sale in Hopkinton have been going under contract very quickly throughout most of this year. While the Spring market this year was absolutely insane, 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 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 and August was not as crazy as the Spring market, when almost every home put up for sale was selling almost as quickly as the sign was put in the yard! It will be interesting to see what transpires over the course of the Winter market. I suspect it will remain slower as it traditionally does and then explode like it did last Spring.
So far year to date there have been 159 closed sales which is nineteen 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.
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