Southborough Massachusetts Real Estate Report December 2014
Do you want to see what has gone on in the Southborough Real Estate market for November along with year over year comparisons? Take a look below for complete details on the Southborough Real Estate market. While you are here make sure you check out our detailed Real estate agents guide to Southborough Mass 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 December 2014 vs December 2013
In December of 2014 there was 26 homes that closed within the month for Southborough MA Real Estate. This is an increase of 17 units, as there was 9 homes that closed in December of 2013.
The average list price for the homes that closed in December of 2013 was $596,131
The average list price for the homes that closed in December of 2014 was $640,350
The average sale price for the homes that closed in December of 2013 was $582,867
The average sale price for the homes that closed in December of 2014 was $625,198
The average market time for the homes that closed in December of 2013 was 93 days.
The average market time for the homes that closed in December of 2014 was 78 days.
Homes Under Contract For December 2014
1 home went under agreement in the month of December. The average list price of the homes that went under agreement was $724,900. The average time on the market for these homes were 71 days. December was an incredibly slow month for homes going to contract.
January 2012 – 2014 Final Year Real Estate Market Statistics For Southborough Massachusetts
In Southborough MA for the period of January to December of 2014 there were 110 properties sold.
In Southborough MA for the period of January to December of 2013 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 in 2014 the average list price was $617,860 the average sale price was $603,014 the average market time was 79 days.
In Southborough MA for the period of January to December in 2013 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 2012 the average list price was $548,546 the average sale price was $527,170 and the average market time was 127 days.
Current December 2014 Home For Sale Inventory Levels
The are currently 26 homes for sale in Southborough MA. The average list price of these homes is $866,258. The average days on the market is 145. Inventory of homes for sale in Southborough in December decreased by a dramatic amount. As of last month there were 51 homes for sale. While some of the drop in inventory was due to sales a good portion was homeowners taking their homes off the market for the winter.
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.
The 2014 real estate market
As we head into January the amount of homes for sale has dropped considerably. It is clear that a number of people have taken their homes off the market for the slower winter season.
Sales for the year ended down from last year although not by a substantial margin. December was an incredible months for closed sales which closed the gap quite a bit. With 26 sales it was one of the best months of the year for closed transactions.
Moving forward sales will probably remain low for the next few months due to an incredibly low number of homes for sale. Unless more homes come on the market there will not be enough homes for buyers to purchase.
Home sellers are going to be set up well for the spring if the amount of homes for sale remains so low.
Southborough remains a very popular destination town for buyers but hard to get into in the lower end of the market.
Sales statistics last year vs this year
Southborough ended the year with 110 sales. This was done from last year when there were 119 sales.
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 Mass homes for sale.