Southborough Massachusetts Real Estate Report August 2014
Do you want to see what has gone on in the Southborough Real Estate market for August 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 real estate found in Southborough MA to learn why the town is a popular choice with home buyers, including information on town history, schools, demographics and more.
Southborough MA Real Estate Activity For August 2014 vs August 2013
In August of 2014 there was 10 homes that closed within the month for Southborough MA Real Estate. This is an decrease of 2 units, as there was 12 homes that closed in August of 2013.
The average list price for the homes that closed in August of 2013 was $624,875
The average list price for the homes that closed in August of 2014 was $561,810
The average sale price for the homes that closed in August of 2013 was $603,708
The average sale price for the homes that closed in August of 2014 was $550,740
The average market time for the homes that closed in August of 2013 was 47 days.
The average market time for the homes that closed in August of 2014 was 45 days.
Homes Under Contract For August 2014
5 homes went under agreement in the month of August. The average list price of the homes that went under agreement was $648,920. The average time on the market for these homes were 77 days. August was a slow month for homes going to contract.
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 July 2014 Home For Sale Inventory Levels
The are currently 50 homes for sale in Southborough MA. The average list price of these homes is $822,290. The average days on the market is 12w. Inventory of homes for sale in Southborough in August increased by seven homes for sale. Inventory has stayed in a fairly tight range over the last few month. This is the largest increase in a while.
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 September the amount of homes for sale had been bouncing around in the forty’s. There are now 50 homes for sale. This is still considered historically low and why the market still favors sellers.
Sales have remained down by quite a bit when compared to last year. Southborough is one of the few towns where sales are off by such a large margin. The biggest reason for this has been the lack of homes coming on the market for sale.
Southborough is considered one of the blue chip communities in the Metrowest area so it is funny to see sales off by so much. Southborough remains a very popular destination town for buyers. In some price points buyers do need to act quickly as there is not much inventory available.
August was an average month for closed home sales with ten. This was not all that different from last year when there was twelve sales.
Pending sales were also not that strong with only 5 homes going under contract.
Sales statistics last year vs this year
Year to date there have been 67 sales. At the same point in time last year there were 89.
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.