Westborough Massachusetts Real Estate Market December 2013
Want to know what has gone on in the Westborough Real Estate market for December 2013 along with year over year comparisons? How about also learning why buying realty in Westborough MA is a popular choice of many home buyers relocating into the Metrowest area? Take a look below for the Westborough Real Estate knowledge that covers both monthly stats and year over year results.
Westborough MA Real Estate Activity For December 2013 vs December 2012
In December of 2013 there were 11 homes that closed within the month for Westborough MA Real Estate. This is an increase of 2 units, as there were 9 homes that closed in December of 2012.
The Average list price for the homes that closed in December of 2012 was $484,922
The Average list price for the homes that closed in December of 2013 was $479,300
The Average sale price for the homes that closed in December of 2012 was $465,156
The Average sale price for the homes that closed in December of 2013 was $479,264
The Average Market time for the homes that closed in December of 2012 was 127 days.
The Average Market time for the homes that closed in December of 2013 was 90 days.
Homes Under Contract For December 2013
2 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $421,250. The average time on the market for these homes were 10 days. With only 2 homes going under contract, this would be considered a dismal month for pending sales, even though we are in a slower time of the year for real estate sales.
January 2010 – 2012 Final Year Real Estate Market Statistics For Westboro Massachusetts
For the period of January to December of 2012 there were 154 properties sold.
For the period of January to December of 2011 there were 140 properties sold.
For the period of January to December 2010 there were 149 properties sold.
For the period of January to December in 2012 the average list price was $448,406 the average sale price was $431,969 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 market time was 101 days.
For the period of January to December in 2010 the average list price was $476,256 the average sale price was $453,802 and the average time on the market was 120 days.
Current December 2013 Homes For Sale Inventory Levels
The are currently 21 homes on the market. The average list price of these homes is $692,895. The average days on the market is 117. Inventory once again dropped from last month with thirteen less homes for sale. Available homes for sale are now at the lowest I have seen in my twenty seven years in the business covering Westborough Real Estate.
Westboro MA Real Estate Market Analysis
In 2012 the Westboro Real Estate market had an increase in the amount of homes sold as compared to 2011 although by a much smaller margin than some of the other towns in the immediate area. This is kind of surprising as Westborough is generally ahead of the curve comparably speaking. Homes priced properly generally moved in a reasonable amount of time but the average days on market were up slightly from the previous year. There was still a downward trend in Real Estate values through out the year but the weakness occurred mostly in the upper end of the market (over 600k). The lower end of the market (under 400k) remained strong with values holding firmer than the more expensive homes in town.
Total Westborough real estate sales for 2012 were better than they were in 2011. In 2012 there were a total of 154 closings. In 2011 there were 140 sales. This is about a 10 percent increase over last year. Interestingly enough this was on the lower end of total sales increases when compared to other surrounding towns.
As we move into January inventory levels are at record lows. For most of the year there were 55 to 65 homes for sale, however the amount of properties that have gone under agreement has been steady while not much new property has become available. This has lead to a state of incredibly low inventory with only 21 homes for sale!
The amount of buyer’s have been greater than the amount of homes entering the market. The lack of housing stock is one of the major contributing factors for home prices to have risen across the board in all price points.
Lower inventory is always a good sign for those considering to sell their home as supply and demand is always a factor with Real Estate values. The month of December was pretty decent with 11 closed sales. The amount of closed sales in December is typically one of the lower volume months in the year. With eleven sales Westborough did slightly better than December of last year when there were 9 sales.
For 2013 Westborough ended the year with 167 sales. Last year there were 154 sales.
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 Homes For Sale.