Southborough Massachusetts Real Estate Report January 2014
Want to see what has gone on in the Southborough Real Estate market for January 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 Realtors guide to Southborough MA Real Estate 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 January 2014 vs January 2013
In January of 2014 there were 3 homes that closed within the month for Southborough MA Real Estate. This is an decrease of 2 units, as there was 5 homes that closed in January of 2013.
The average list price for the homes that closed in January of 2013 was $912,200
The average list price for the homes that closed in January of 2014 was $424,633
The average sale price for the homes that closed in January of 2013 was $860,420
The average sale price for the homes that closed in January of 2014 was $448,000
The average market time for the homes that closed in January of 2013 was 245 days.
The average market time for the homes that closed in January of 2014 was 10 days.
Homes Under Contract For January 2014
3 homes went under agreement in the month of Janaury. The average list price of the homes that went under agreement was $533,233. The average time on the market for these homes were 110 days. January was a slow month for homes going under contract, which is to be expected given this is a slower period of time for real estate sales. In addition available homes for sale is very low.
January 2011 – 2013 Final Year Real Estate Market Statistics For Southboro 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 January 2014 Home For Sale Inventory Levels
The are currently 29 homes on the market in Southborough MA. The average list price of these homes is $976,945. The average days on the market is 130. Inventory of homes for sale in Southborough has been holding steady around 30 homes for sale which is just stunning. Inventory has been hovering at the lowest levels I can remember in my twenty seven years in the business.
Southboro 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.
The 2014 real estate market
As we enter February the amount of homes for sale is not only at the lowest levels for the past year but also the last couple of decades.
At the moment there are only 29 homes for sale which is just incredible. Moving forward the market is shaping up to be very similar to what it was last year at this time. It looks like home buyers are going to be faced with stiff competition as homes enter the market in the coming months.
January was a slow month for closed home sales. There were three homes that closed which is two less homes than January of last year.
Only three homes went under contract in January which is obviously very little activity but it is indicative of this time of year combined with a lack of homes for sale.
in 2013 there were 119 homes sold. In 2012 Southborough had 116 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 SSouthborough MA homes for sale.