Northbridge Massachusetts Real Estate Report October 2014
Do you want to see what has gone on in the Northbridge Real Estate market for the month of October 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 real estate in 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 October 2014 vs September 2013
In October of 2014 there were 12 homes that closed within the month for Northbridge MA Real Estate. This is the same amount of units, as there were 12 homes that closed in October of 2013.
The average list price for the homes that closed in October of 2013 was $331,517
The average list price for the homes that closed in October of 2014 was $329,832
The average sale price for the homes that closed in October of 2013 was $317,475
The average sale price for the homes that closed in October of 2014 was $324,575
The average market time for the homes that closed in October of 2013 was 148 days.
The average market time for the homes that closed in October of 2014 was 146 days.
Homes Under Contract For October 2014
10 homes went under agreement in the month of October. The average list price of the homes that went under agreement was $338,840. The average time on the market for these homes were 182 days. October was a fair month for homes going under contract.
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 October 2014 Home For Sale Inventory Levels
The are currently 55 homes on the market in Northbridge MA. The average list price of these homes is $352,955. The average days on the market is 159. The amount of homes for sale decreased from last month with three 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. 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.
The market activity in October for sold properties was identical to what it was last year with 12. The amount of sales activity this year vs last however is down considerably. Northbridge is one of the few local towns where there is such a big gap in market activity. Most towns sales have either mirrored last year pretty closely or are even ahead this year.
The one saving grace is that inventory has remained low. Over the next couple of months the market will more than likely have sales figures that are lower than the previous months. The holidays are typically the slowest time of year for real estate activity. We have already notice a change in the amount of showings.
The market still favors sellers as the supply of homes remains lower than historic norms. Homes in the lower ranges of the market are selling quicker than those is the middle to upper end of the market. Showing activity has trailed off significantly over the last few weeks so it will be interesting to see what the performance of the market stats will be like next month.
Year to date sales vs last year
There have been 108 sales year to date. At this same point in time last year there were 131 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.