Northbridge Massachusetts Real Estate Report December 2014
Do you want to see what has gone on in the Northbridge Real Estate market for the month of December along with year over year comparisons? Take a look at our reporting of the Northbridge MA market. While you are here looking at the market data take a peek at the Real estate agents guide to Northbridge Mass, where you will find out why Northbridge is a popular choice for home buyers including information on town history, schools, demographics and more.
Northbridge Real Estate Activity For December 2014 vs December 2013
In December of 2014 there were 9 homes that closed within the month for Northbridge MA Real Estate. This is an increase of 3 units, as there were 6 homes that closed in December of 2013.
The average list price for the homes that closed in December of 2013 was $345,033
The average list price for the homes that closed in December of 2014 was $316,256
The average sale price for the homes that closed in December of 2013 was $335,500
The average sale price for the homes that closed in December of 2014 was $314,015
The average market time for the homes that closed in December of 2013 was 135 days.
The average market time for the homes that closed in December of 2014 was 125 days.
Homes Under Contract For December 2014
3 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $377,933. The average time on the market for these homes were 83 days. December was a very slow month for homes going under contract.
January 2012 – 2014 Final Year Real Estate Market Statistics For Northbridge Massachusetts
For the period of January to December of 2014 there were 129 properties sold.
For the period of January to December of 2013 there were 144 properties sold.
For the period of January to December of 2012 there were 120 properties sold.
For the period of January to December in 2014 the average list price was $320,197 the average sale price was $314,844 the average market time was 126 days.
For the period of January to December in 2013 the average list price was $320,958 the average sale price was $316,448 the average market time was 127 days.
For the period of January to December in 2012 the average list price was $299,841 the average sale price was $286,407 and the average market time was 127 days.
Current December 2014 Home For Sale Inventory Levels
The are currently 48 homes on the market in Northbridge MA. The average list price of these homes is $351,617. The average days on the market is 204. The amount of homes for sale stayed exactly the same from last month with seven less properties for sale.
Northbridge MA Real Estate Market Analysis
2013 Analysis of the Northbridge Real Estate Market.
In 2013 the Northbridge Real Estate market was much better than in previous years. Not only was there a fairly sizable jump in the amount of homes that were sold but market values also jumped as well. On statistical anomaly was the fact that the average days on market stayed exactly the same as the previous year. Most of the surrounding communities saw a decrease in the average days on the market.
The lower end of the Northbridge market was much stronger than the upper end which was the biggest contributing factor to the days on market remaining higher.
One of the biggest driving forces in the market improving was the low inventory of homes for sale. Throughout most of last year there were far fewer homes for sale than in years past. Supply and demand is always one of the biggest factors in determining home 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.
The Spring was especially strong, with the Summer months also showing strong sales. The latter half of the Fall and Winter were not as strong. This is not all that unusual from a historical perspective.
For 2013 Northbridge finished the year with 144 home sales.
Analysis of the 2014 Real Estate Market.
The market activity in December for sold properties was a little bit better than last year with nine sales vs six. Northbridge finished the year with fewer transactions than last year. Other than that the market was fairly similar to last. Northbridge is one of the few towns where there is a larger gap however in the amount of sales compared to last year vs other communities.
Inventory remained the same as last month although it has been trending lower over the last few months of the year. Inventory will be an important consideration to watch. The amount of homes for sale will have a definite relationship with how quickly homes sell and if there is any price appreciation.
The next few months will more than likely remain slower. We will probably not see a noticeable increase in activity until the Spring months arrive.
Year to date sales vs last year
There were 129 sales in Northbridge this year. This is down from last year when there were 144 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 Mass properties for sale.