Westborough Massachusetts Real Estate Market July 2013
See what has gone on in the Westborough Real Estate market for July 2013 along with year over year comparisons. Learn why buying real estate in Westborough is a popular choice of many home buyers relocating into the Metrowest area.
Westborough MA Real Estate Activity For July 2013 vs July 2012
In July of 2013 there were 26 homes that closed within the month for Westborough MA Real Estate. This is an decrease of 3 units, as there were 23 homes that closed in July of 2012.
The Average list price for the homes that closed in July of 2012 was $468,426
The Average list price for the homes that closed in July of 2013 was $516,150
The Average sale price for the homes that closed in July of 2012 was $458,803
The Average sale price for the homes that closed in July of 2013 was $505,143
The Average Market time for the homes that closed in July of 2012 was 103 days.
The Average Market time for the homes that closed in July of 2013 was 72 days.
Homes Under Contract For July 2013
8 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $531,513. The average time on the market for these homes were 86 days. With only 8 homes going under contract, this was a down month for pending sales. Homes are selling as fast as they hit the market right now with such low inventory, however not enough properties have been entering the market. The amount of homes going pending would more than likely be even higher if there were more homes at certain price points.
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 July 2013 Homes For Sale Inventory Levels
The are currently 64 homes on the market. The average list price of these homes is $584,167. The average days on the market is 127.
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.
Current home inventory levels started to drop towards the latter half of last year and have remained very low throughout the first part of the year. As we move into August and out of the Spring selling season not much has changed. Inventory levels have continued to hover around 55-65 homes for sale. The amount of homes for sale stayed just about the same as last month with only one more home for sale. The amount of buyer’s have certainly kept pace with the existing inventory. In fact there have been less homes sold this year to date than last due to the fact that not nearly as many people have put their homes up for sale. This has caused home values to increase 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 July was excellent with 26 closed sales. This was a slightly higher number of homes that sold in the same time frame as last year. Westborough real estate market is however trailing some of the other local towns that have housing shortages as well which is pretty unusual.
Year to date there have been 78 home sales. At this same point in time last year there were 99 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.