Northbridge Massachusetts Real Estate Report December 2013
Want to learn what is going on in the Northbridge Real Estate market for December 2013 and why buyers are choosing realty in Northbridge including data on schools, town history, demographics and more? See all you need to know about Northbridge Real Estate here.
Northbridge Real Estate Activity For December 2013 vs December 2012
In December of 2013 there were 5 homes that closed within the month for Northbridge MA Real Estate. This is an decrease of 9 units, as there were 14 homes that closed in December of 2012.
The average list price for the homes that closed in December of 2012 was $312,807
The average list price for the homes that closed in December of 2013 was $359,040
The average sale price for the homes that closed in December of 2012 was $308,416
The average sale price for the homes that closed in December of 2013 was $348,600
The average market time for the homes that closed in December of 2012 was 115 days.
The average market time for the homes that closed in December of 2013 was 148 days.
Homes Under Contract For December 2013
4 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $360,950. The average time on the market for these homes were 248 days. December was a very weak month for real estate activity when compared to previous months. This is not all that unusual as December is traditionally one of the slowest months of year for Real Estate sales.
January 2010 – 2012 Final Year Real Estate Market Statistics For Northbridge Massachusetts
For the period of January to December of 2012 there were 120 properties sold.
For the period of January to December of 2011 there were 89 properties sold.
For the period of January to December 2010 there were 90 properties sold.
For the period of January to December in 2012 the average list price was $299,841 the average sale price was $286,407 the average market time was 127 days.
For the period of January to December in 2011 the average list price was $270,662 the average sale price was $260,852 and the average market time was 169 days.
For the period of January to December in 2010 the average list price was $292,115 the average sale price was $281,847 and the average time on the market was 120 days.
Current December 2013 Home For Sale Inventory Levels
The are currently 64 homes on the market in Northbridge MA. The average list price of these homes is $351,180. The average days on the market is 155. Inventory increased again from last month which is now the third month in a row homes for sale have increased. For most of the year inventory was dropping from month to month. There was an increase of nine homes for sale from last month. This is an unusual trend as most of the surrounding communities have ever stayed around the same or dropped.
Northbridge MA Real Estate Market Analysis
In 2012 the Northbridge Real Estate market had a decent increase in the amount of homes sold as compared to 2011. In fact there was over a 20 percent jump in the amount of sales. Homes took a bit longer to sell in Northbridge compared to some of the other surrounding area towns going East. There was still a downward trend in Real Estate values through out the year the first half of the year but the weakness occurred mostly in the upper end of the market (over 400k). The average days on market decreased substantially from the previous year. Homes under 300k tended to move a lot quicker than higher priced property.
For 2012 there were 120 real estate sales. For 2011 there were only 89 sales. This obviously a very healthy gain in sales volume for the year. All signs point to the fact we may be near a market bottom.
Current home inventory levels have remained low since the fall of 2012 and have remained that way for much of the year as we head into December. Currently there are 75 homes for sale in town. While inventory levels have been down in many towns in the area, Northbridge experienced one of the largest drops year over year. Inventory over the last few months however has started to climb which bears watching. This has not been the pattern in other town where inventory has still been dropping.
Lower inventory is a good sign for those considering to sell their home as supply and demand is always a factor with Real Estate values. The lower inventory levels are having a positive effect on both the time it is taking for homes to go under contract, as well as the firming of market values.
Throughout most of the year Northbridge saw improvement in real estate values like many other local communities. Appreciation was not as healthy as some other towns but improvement none the less. The Spring was especially strong, with the Summer months also showing strong sales. The latter half of the Fall and Winter have not been as strong. This is not all that unusual from a historical perspective.
Moving forward to the first half of 2014 I see the market as favoring sellers with low inventory in place. It may not be quite as vibrant as last year but should be steady.
For 2013 Northbridge finished the year with 143 home sales. In 2012 there were 120 sales. Northbridge had a decent year in terms of an increase year over year of home sales.
The above Northbridge Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Northbridge Massachusetts homes for sale.