Westborough Massachusetts Real Estate Market April 2014
Do you want to see what has gone on in the Westborough Real Estate market for April, along with year over year comparisons? Take a look below for complete details on the Westborough Real Estate market. While you are here take a look at the real estate guide to Westborough Massachusetts to learn why Westborough is a popular choice with home buyers, including information on town history, schools, demographics and more.
Real Estate Activity For April 2014 vs April 2013
In April of 2014 there were 8 homes that closed within the month for Westborough MA Real Estate. This is a decrease in the amount of units, as there were11 homes that closed in April of 2013.
The Average list price for the homes that closed in April of 2013 was $476,353
The Average list price for the homes that closed in April of 2014 was $577,525
The Average sale price for the homes that closed in April of 2013 was $466,582
The Average sale price for the homes that closed in April of 2014 was $566,100
The Average Market time for the homes that closed in April of 2013 was 94 days.
The Average Market time for the homes that closed in April of 2014 was 118 days.
Homes Under Contract For April 2014
19 homes went under agreement in the month of April. The average list price of the homes that went under agreement was $497,955. The average time on the market for these homes were 33 days. With 19 homes going under contract, April was an exceptional month for homes getting accepted offers. The trend should continue as we enter the best selling season.
January 2011 – 2013 Final Year Real Estate Market Statistics For Westborough Massachusetts
For the period of January to December of 2013 there were 168 properties sold.
For the period of January to December of 2012 there were 154 properties sold.
For the period of January to December 2011 there were 140 properties sold.
For the period of January to December in 2012 the average list price was $463,787 the average sale price was $456,715 the average market time was 85 days.
For the period of January to December in 2011 the average list price was $448,406 the average sale price was $431,969, and the average market time was 124 days.
For the period of January to December in 2011 the average list price was $469,826 the average sale price was $452,803 and the average time on the market was 101 days.
Current April 2014 Homes For Sale Inventory Levels
The are currently 37 homes on the market. The average list price of these homes is $675,095. The average days on the market is 79. Inventory decreased from last month with two less homes for sale. Inventory had bumped up a bit a couple of months ago. 37 homes for sale, however is still a very low inventory for Westborough.
Westborough MA Real Estate Market Analysis
Analysis of the 2013 real estate market
In 2013 the Westborough Real Estate market was completely different than in years past. Like many of the surrounding local communities Westborough saw a complete turnaround in the real estate market. The market shifted from a buyers market to a full fledged sellers market!
The market actually changed around this time last year when inventory had decreased significantly from the levels of years past. There was however pent up buyer demand which spurred home value. In was the perfect environment to see the market swing back to a sellers market. There were record low interest rates, buyer demand and little housing available.
When the Spring market hit last year there was a buying frenzy. As soon as a property hit the market it would be gone in under a couple of weeks if it was priced correctly. Often times sellers were fielding multiple offers on their property and eventually selling for over asking price. Not since 2005 had we seen a market this robust.
As we progressed further into the year the market become more balanced. Home were selling at a steady pace but nothing like the Spring. For the year Westborough ended the year with a pretty significant uptick in market values. Home were also selling much faster and closer to asking prices.
For 2013 Westborough ended the year with 168 sales. Last year there were 154 sales.
2014 real estate analysis
As we move into April the market is once again picking up steam as it typically does at this time of year. Inventory remains incredibly low which is supporting housing values. The Spring is shaping up to once again favor home sellers. Inventory of homes for sale has been hanging around 35 -40 homes for sale which is just mind boggling!
The market right now looks very similar to last year when values were on the rise due to low inventory and a steady demand from buyers. Other than slightly higher interest rates the environment remains the same.
The month of April was average with 8 closed sales. The amount of closed sales for April was a few less homes for sale than it this same time last year when there were 11.
Year to date sales vs last year
The amount of sales this year compared to last is very similar. Year to date there have been 31 sales. At this same time in 2o13 there were 29.
The above Westboro Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Westborough MA Properties For Sale.