Northbridge Massachusetts Real Estate Report July 2013
Learn what is going on in the Northbridge Real Estate market for July 2013 and why buyers are choosing Real Estate in Northbridge including data on schools, town history, demographics and more.
Northbridge Real Estate Activity For July 2013 vs July 2012
In July of 2013 there were 14 homes that closed within the month for Northbridge MA Real Estate. This is an decrease of 4 units, as there were 18 homes that closed in July of 2012.
The average list price for the homes that closed in July of 2012 was $285,118
The average list price for the homes that closed in July of 2013 was $332,543
The average sale price for the homes that closed in July of 2012 was $277,228
The average sale price for the homes that closed in July of 2013 was $320,860
The average market time for the homes that closed in July of 2012 was 91 days.
The average market time for the homes that closed in July of 2013 was 92 days.
Homes Under Contract For July 2013
12 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $282,242. The average time on the market for these homes were 96 days. July was a decent month for homes going under contract. July is traditionally a point in the year where we start to see the market slow a bit from the pace of the Spring market.
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 July 2013 Home For Sale Inventory Levels
The are currently 56 homes on the market in Northbridge MA. The average list price of these homes is $392,053. The average days on the market is 274.
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.
Current home inventory levels have been decreasing since the fall of 2012 and have continued to drop as we head into August. There are now only 56 homes for sale in town. While inventory levels are down in many towns, Northbridge has seen a large drop from the lofty levels they were at last year. 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.
The latter half of 2012 was when The Northbridge Real Estate market really started to firm, coinciding with the continued drop is housing stock. This trend has been the case throughout the Spring market. It does appear however at this time that the market activity has dropped somewhat ans we are now looking at a more normal market with homes not selling as fast as they hit the market.
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.
So far in 2013 there have been 85 home sales. In 2012 at this same point in time last year there were 54 sales. Northbridge is absolutely crushing it right now in their sales volume when compared to last year. At this point in time there is a marked improvement when compared to sales volume at the same time last year.
While most of the area towns are experiencing an increase in the market value of homes, most have not seen a rise in the number of homes sold due to the lack of inventory. Throughout the Spring in the price points where inventory was low, homes were selling exceptionally quick. There have also been a few properties that have received multiple offers the first week with homes going over asking price. The market is certainly different this year than last. There are signs now of the market cooling and headed back to what would be considered more normal.
The above Northbridge Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
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