Northbridge Massachusetts Real Estate Report March 2014
Want to see what has gone on in the Northbridge Real Estate market for the month of March 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 Realtors guide to Northbridge MA 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 March 2014 vs March 2013
In March of 2014 there were 11 homes that closed within the month for Northbridge MA Real Estate. This is the same amount of units, as there were 11 homes that closed in March of 2013.
The average list price for the homes that closed in March of 2013 was $337,927
The average list price for the homes that closed in March of 2014 was $375,930
The average sale price for the homes that closed in March of 2013 was $330,436
The average sale price for the homes that closed in March of 2014 was $365,536
The average market time for the homes that closed in March of 2013 was 191 days.
The average market time for the homes that closed in March of 2014 was 133 days.
Homes Under Contract For March 2014
9 homes went under agreement in the month of March. The average list price of the homes that went under agreement was $323,100. The average time on the market for these homes were 81 days. March was a very decent month for real estate activity especially considering the time of year.
January 2011 – 2013 Final Year Real Estate Market Statistics For Northbridge Massachusetts
For the period of January to December of 2012 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 2011 there were 89 properties sold.
For the period of January to December in 2012 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 2011 the average list price was $299,841 the average sale price was $286,407 and 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 time on the market was 169 days.
Current March 2014 Home For Sale Inventory Levels
The are currently 58 homes on the market in Northbridge MA. The average list price of these homes is $344,083. The average days on the market is 149. Inventory rose from last month which is the first time it has done so in the last few months. There were seven additional homes 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. In 2012 there were 120 sales. Northbridge had a decent year in terms of an increase year over year of home sales.
Analysis of the 2014 Real Estate Market.
As we move into the Spring selling season, I see the market being very similar to what it was last year when it was a very vibrant market for sellers. There is still a very short supply of homes. This is going to make the home selling environment favor sellers. Buyers are going to need to be in a position to move quickly on something they find attractive. The market may not be quite as robust as last year as market values have gone up along with interest rates.
For March the market was right on par with what it did last year at this time with 11 sales. This mirror the amount of sales last March at this time.
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.