Northbridge Massachusetts Real Estate Report May 2013
Northbridge Real Estate Activity For May 2013 vs May 2012
In May of 2013 there were 12 homes that closed within the month for Northbridge MA Real Estate. This is an increase of 5 units, as there were 7 homes that closed in May of 2012.
The average list price for the homes that closed in May of 2012 was $304,617
The average list price for the homes that closed in May of 2013 was $372,242
The average sale price for the homes that closed in May of 2012 was $290,143
The average sale price for the homes that closed in May of 2013 was $371,659
The average market time for the homes that closed in May of 2012 was 131 days.
The average market time for the homes that closed in May of 2013 was 159 days.
Homes Under Contract For May 2013
21 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $257,834. The average time on the market for these homes were 161 days. May was a ver good month for homes going under contract. May is traditionally one of the peak months in the busiest selling season of the year.
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 May 2013 Home For Sale Inventory Levels
The are currently 58 homes on the market in Northbridge MA. The average list price of these homes is $390,685. The average days on the market is 258.
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 June. While inventory levels are done in many towns, Northbridge has seen a large drop. 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 continued into May and does not look like it will change anytime soon.
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 54 home sales. In 2012 at this same point in time last year there were 27 sales. At this point in time there are already double the sales as there were at the same time last year! While most town are experiencing an increase in the market value of homes, most of the area towns have not seen a rise in the number of homes sold due to the lack of inventory. In some price points of the market, homes are selling very quickly. There have also been a few properties that have received multiple offers the first week with homes going over asking price.
To learn more about Northbridge Massachusetts see the Northbridge real estate guide.
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.