Southboro Massachusetts Real Estate Report March 2013
Southboro MA Real Estate Activity For March 2013 vs March 2012
In March of 2013 there were 7 homes that closed within the month for Southborough MA Real Estate. This is a decrease of 1 unit, as there was 8 homes that closed in March of 2012.
The Average list price for the homes that closed in March of 2012 was $446,050
The Average list price for the homes that closed in March of 2013 was $521,357
The Average sale price for the homes that closed in March of 2012 was $430,225
The Average sale price for the homes that closed in March of 2013 was $496,429
The Average Market time for the homes that closed in March of 2012 was 174 days.
The Average Market time for the homes that closed in March of 2013 was 132 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 $454,425. The average time on the market for these homes were 192 days. March was an outstanding month for homes going under contract.
January 2010 – 2012 Final Year Real Estate Market Statistics For Southboro Massachusetts
In Southboro MA for the period of January to December of 2012 there were 116 properties sold.
In Southboro MA for the period of January to December of 2011 there were 105 properties sold.
In Southboro MA for the period of January to December 2010 there were 149 properties sold.
In Southboro MA for the period of January to December in 2012 the average list price was $548,546 the average sale price was $527,170 the average market time was 127 days.
In Southboro MA for the period of January to December in 2011 the average list price was $562,879 the average sale price was $540,857 and the average market time was 142 days.
In Southboro MA for the period of January to December in 2010 the average list price was $712,199 the average sale price was $660,382 and the average time on the market was 136 days.
Current March 2013 Home For Sale Inventory Levels
The are currently 46 homes on the market in Southborough MA. The average list price of these homes is $763,483. The average days on the market is 120.
Southboro MA Real Estate Market Analysis
In 2012 the Southboro Real Estate market had an increase in the amount of homes sold as compared to 2011. The increase was moderate however, in comparison to some of the other surrounding area towns like Hopkinton and Ashland, which saw greater gains in the number of homes sold year over year. Homes priced properly generally went under contract in under 90 days.
There was still a downward trend in Real Estate values in the first part of the year. Values however, really started to firm in the second and third quarters as home inventory levels dropped. The upper end of the market still showed weakness with a slight decline in values. The average days on dropped as compared to the previous year. The lower end of the market (under 500k) remained strong with values holding firmer than in the upper ends of the Southboro market.
Current home inventory levels remained the same as last month. Right now we are near the lowest levels they have been for as long as I can remember. Inventory has been low since the latter part of 2012 and has continued that way as we head into April. Lower home inventory is always a good sign for those considering to sell their home as supply and demand plays a big factor with Real Estate values. It should be a very competitive Spring for home buyers looking to move into Southborough.
March was a decent month for closed home sales. With seven homes closing that is about average for this time of the year. The amount of sales probably would have been even better if there were more homes for sale. Inventory levels being so low have kept the amount of sales down. Low inventory levels are having an impact on the amount of homes selling without question. Homes priced well right now are selling as quickly as they hit the market. There is no question we have moved out of a buyer’s market and into one that favors seller’s. There were 13 homes that went under contract in March which is a very healthy figure!
For the year ending 2012 there were 116 sales. In 2011 there were 105 sales. As you can see there was about a 10 percent increase year over year in the amount of home sales. While 10 percent is not bad, there were much healthier increases in other local Metrowest towns.
There have been 19 homes that have sold year to date. At this same point in time last year there were 12 home sales.
To learn more about Southboro Massachusetts see the Southboro community guide.
The above Southboro Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Southboro MA homes for sale.