Westborough Massachusetts Real Estate Market February 2015
Do you want to see what has gone on in the Westborough Real Estate market for February, along with year over year comparisons? Take a look below for complete details on the Westborough Real Estate market. While you are here make sure you see the Real estate agents 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 February 2015 vs February 2014
In February of 2015 there were 2 homes that closed within the month for Westborough MA Real Estate. This is an decrease of 2 units, as there were 4 homes that closed in February of 2014.
The average list price for the homes that closed in February of 2014 was $468,725
The average list price for the homes that closed in February of 2015 was $323,500
The average sale price for the homes that closed in February of 2014 was $457,125
The average sale price for the homes that closed in February of 2015 was $302,500
The average market time for the homes that closed in February of 2014 was 91 days.
The average market time for the homes that closed in February of 2015 was 106 days.
Homes Under Contract For February 2015
5 homes went under agreement in the month of February. The average list price of the homes that went under agreement was $520,740. The average time on the market for these homes were 100 days. With only 5 homes going under contract, February was a pretty slow month for pending sales activity.
January 2012 – 2014 Final Year Real Estate Market Statistics For Westborough Massachusetts
For the period of January to December of 2014 there were 176 properties sold.
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 in 2014 the average list price was $487,079 the average sale price was $469,039 the average market time was 85 days.
For the period of January to December in 2013 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 2012 the average list price was $448,406 the average sale price was $431,969, and the average market time was 124 days.
Current February 2015 Homes For Sale Inventory Levels
The are currently 17 homes on the market. The average list price of these homes is $742,842. The average days on the market is 158. Inventory decreased again from last month when their were 20 homes for sale. This is the third consecutive month there has been a drop in inventory. Much of the reduction has been people taking their homes off the market for the winter.
Westborough MA Real Estate Market Analysis
Current real estate analysis
The real estate market in Westborough was steady throughout much of this past year. Sales were strong and in fact beat the figures from last year. Homes priced properly moved at a quick pace. Westborough continues to be one of the destination towns from buyers in the Metrowest area.
Inventory right now is so low it is unbelievable! With only fourteen homes for sale, it is the fewest amount of properties available I have seen in the twenty eight years I have been selling real estate in Westborough.
In the next few months this is going to lead to two things – bidding wars and homes selling for over asking price. Buyers are going to be in a tough spot as soon as the activity picks up a bit which it will. Sellers are going to be in the drivers seat as they have been for the last two spring selling seasons.
The month of February was extremely slow with only two sales. This was down from last year when there were four sales. Pending sales were also stagnant with only 5 homes going under contract. Folks this is going to change really quickly in the coming months. Brace for it!
Year to date sales vs last year
Westborough finished 2014 with 176 sales. This is an increase from 2013 when there were 168 sales. Westborough is one of the few towns in the area that finished the year with more sales than last.
The above Westborough Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.