Southborough Massachusetts Real Estate Report June 2013
See what has gone on in the Southborough Real Estate market for the past month along with year over year comparisons. Learn why buying real estate in Southborough is as popular as ever including information on town history, schools, demographics and more
Southborough MA Real Estate Activity For June 2013 vs June 2012
In June of 2013 there were 12 homes that closed within the month for Southborough MA Real Estate. This is an decrease of 4 units, as there was 16 homes that closed in June of 2012.
The average list price for the homes that closed in June of 2012 was $606,281
The average list price for the homes that closed in June of 2013 was $442,258
The average sale price for the homes that closed in June of 2012 was $588,281
The average sale price for the homes that closed in June of 2013 was $437,242
The average market time for the homes that closed in June of 2012 was 89 days.
The average market time for the homes that closed in June of 2013 was 69 days.
Homes Under Contract For June 2013
10 homes went under agreement in the month of June. The average list price of the homes that went under agreement was $716,260. The average time on the market for these homes were 15 days. June was a below average month for homes going under contract, however homes sold as fast as they hit the market.
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 June 2013 Home For Sale Inventory Levels
The are currently 37 homes on the market in Southborough MA. The average list price of these homes is $782,416. The average days on the market is 72.
Southboro MA Real Estate Market Analysis
In 2012 the Southborough 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 past 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.
2013 has been a completely different story so far. Inventory levels started to drop in the latter half of last year and have remained very low as we enter July. Inventory levels remained the same as last month with thirty seven homes for sale. Inventory levels have not been this low in many years!! 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 was an extremely competitive Spring for home buyers looking to move into Southborough and will more than likely remain that way through the Summer months. There have been many homes hitting the market that have received multiple offers with selling prices going over asking.
June was a below average month for closed home sales. There were twelve homes that closed which is four fewer homes than June of last year. There is no question sales would have been even better if there were additional Southborough homes for sale. With inventory levels remaining tight the amount of sales down have been down in a number of area towns. In certain price points homes are selling as quickly as they are coming on the market. The real estate market certainly favors seller’s who are realistic in their home pricing at the moment. The market is a far cry from what it was last year! There were 10 homes that went under contract in June was lower than expected, again due to the constraints of low inventory.
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 56 homes that have sold year to date. At this same point in time last year there were 50 home 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 Massachusetts homes for sale.