Northbridge Massachusetts Real Estate Report March 2013
Northbridge Real Estate Activity For March 2013 vs March 2012
In March of 2013 there were 11 homes that closed within the month for Northbridge MA Real Estate. This is an increase of 2 units, as there were 9 homes that closed in March of 2012.
The Average list price for the homes that closed in March of 2012 was $310,350
The Average list price for the homes that closed in March of 2013 was $337,927
The Average sale price for the homes that closed in March of 2012 was $298,414
The Average sale price for the homes that closed in March of 2013 was $330,436
The Average Market time for the homes that closed in March of 2012 was 159 days.
The Average Market time for the homes that closed in March of 2013 was 191 days.
Homes Under Contract For March 2013
13 homes went under agreement in the month of March. The average list price of the homes that went under agreement was $319,762. The average time on the market for these homes were 111 days. March was another very good month for homes going under contract. March is traditionally the start of the Spring selling season. With thirteen sales, Northbridge is off to a good start.
January 2010 – 2012 Final Year Real Estate Market Statistics For Northbridge Massachusetts
In Northbridge MA for the period of January to December of 2012 there were 120 properties sold.
In Northbridge MA for the period of January to December of 2011 there were 89 properties sold.
In Northbridge MA for the period of January to December 2010 there were 90 properties sold.
In Northbridge MA 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.
In Northbridge MA 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.
In Northbridge MA 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 March 2013 Home For Sale Inventory Levels
The are currently 63 homes on the market in Northbridge MA. The average list price of these homes is $361,582. The average days on the market is 279.
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 low since the end of 2012 and have remained that way into the first quarter of 2013. In fact inventory levels are down across the board in all area towns. 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 second half of 2012 was when The Northbridge Real Estate market started to firm somewhat and has continued into March of this year. Home sales were lagging for the better part of last year but the volume of sales improved quite a bit over the last few months of the year.
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 27 home sales. In 2012 at this same point in time last year there were 14 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 MA homes for sale.