Southborough Massachusetts Real Estate Report April 2014
Do you want to see what has gone on in the Southborough Real Estate market for April along with year over year comparisons? Take a look below for complete details on the Southborough Real Estate market. While you are here take a look at the Real Estate guide to Southborough Massachusetts to learn why Southborough is a popular choice with home buyers, including information on town history, schools, demographics and more.
Southborough MA Real Estate Activity For April 2014 vs April 2013
In April of 2014 there was 9 homes that closed within the month for Southborough MA Real Estate. This is an increase of 1 unit, as there was 8 homes that closed in April of 2013.
The average list price for the homes that closed in April of 2013 was $684,113
The average list price for the homes that closed in April of 2014 was $646,956
The average sale price for the homes that closed in April of 2013 was $653,475
The average sale price for the homes that closed in April of 2014 was $641,172
The average market time for the homes that closed in April of 2013 was 220 days.
The average market time for the homes that closed in March of 2014 was 111 days.
Homes Under Contract For April 2014
4 homes went under agreement in the month of April. The average list price of the homes that went under agreement was $559,250. The average time on the market for these homes were 48 days. April was a lackluster month for homes going under contract with only 4.
January 2011 – 2013 Final Year Real Estate Market Statistics For Southborough Massachusetts
In Southborough MA for the period of January to December of 2012 there were 119 properties sold.
In Southborough MA for the period of January to December of 2012 there were 116 properties sold.
In Southborough MA for the period of January to December 2011 there were 105 properties sold.
In Southborough MA for the period of January to December in 2012 the average list price was $634,407 the average sale price was $626,155 the average market time was 113 days.
In Southborough MA for the period of January to December in 2011 the average list price was $548,546 the average sale price was $527,170 and the average market time was 127 days.
In Southborough 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 time on the market was 142 days.
Current April 2014 Home For Sale Inventory Levels
The are currently 44 homes for sale in Southborough MA. The average list price of these homes is $932,718. The average days on the market is 92. Inventory of homes for sale in Southborough in April rose from last month with nine additional homes being added to the inventory. This is still an incredibly low number of homes for sale.
Southborough MA Real Estate Market Analysis
The 2013 real estate market
In 2013 the Southborough Real Estate market only had a slight increase in the amount of homes sold as compared to 2012 but that does not begin to describe the difference in the market. 2013 was a year that will be remembered for the fact that it was the first year in a very long time that we actually saw appreciation in home values for a very long time. Through out the first half of 2013 the market was absolutely sizzling with homes selling in an incredibly short period of time. There were in fact a number of occasions where homes would be selling in the first week, sometimes over asking prices with multiple bids. The real estate market was nothing like we had seen since 2005.
The change is the market was due to a few factors including pent up demand combined with low inventory of homes for sale with record low interest rates. In simple terms it was all about supply and demand.
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.
in 2013 there were 119 homes sold. In 2012 Southborough had 116 sales.
The 2014 real estate market
As we head into May the amount of homes for sale remains historically very low. With only 44 homes for sale entering the heart of the Spring market this favors sellers.
Expectations are that there should be more homes becoming available over the next couple of months. Market dynamics are not all that different than when they were last Spring when we saw the first appreciation in real estate values in 8 years. With low inventory and decent buyer demand there could be further appreciation. Homeowners should be in the drivers seat once again this Spring. Buyers will have to jump when they see a home they like.
April was an average month for closed home sales. There were nine homes that closed which is one more than April of last year.
Only four homes however went under contract in April which is below average.
Sales statistics last year vs this year
Year to date there have been 19 sales. At the same point in time last year there were 27.
The above Southborough Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Southborough homes for sale.