Westborough Massachusetts Real Estate Market March 2015
Do you want to see what has gone on in the Westborough Real Estate market for March, 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 guide to Westborough Mass, to learn why Westborough is a popular choice with home buyers, including information on town history, schools, demographics and more.
Real Estate Activity For March 2015 vs March 2014
In March of 2015 there were 7 homes that closed within the month for Westborough MA Real Estate. This is an decrease of 1 unit, as there were 8 homes that closed in March of 2014.
The average list price for the homes that closed in March of 2014 was $431,063
The average list price for the homes that closed in March of 2015 was $443,357
The average sale price for the homes that closed in March of 2014 was $414,838
The average sale price for the homes that closed in March of 2015 was $431,961
The average market time for the homes that closed in March of 2014 was 99 days.
The average market time for the homes that closed in March of 2015 was 140 days.
Homes Under Contract For March 2015
4 homes went under agreement in the month of March. The average list price of the homes that went under agreement was $488,350. The average time on the market for these homes were 18 days. With only 4 homes going under contract, March was a very disappointing 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 March 2015 Homes For Sale Inventory Levels
The are currently 26 homes on the market. The average list price of these homes is $842,750. The average days on the market is 90. Inventory increased from last month when their were 17 homes for sale. This is the first month in a while that inventory has gone up. There are an absurdly low amount of homes available for purchase.
Westborough MA Real Estate Market Analysis
Current real estate analysis
Inventory right now is at incredibly low levels. This has been holding back the typical number of sales we are accustomed to seeing. With only twenty six homes for sale, there is slim pickens for a buyer looking for a place to call home. Inventory has been hovering around the lowest levels in the twenty eight years I have been selling real estate in Westborough.
The is going to change rapidly over the next few months. As we head into the spring market more sellers are going to be listing their homes for sale. While there is a much needed influx of homes there is going to be enough buyer demand that sellers will be in the drivers seat.
More than likely homes are going to be selling very quickly and in some pockets there will be bidding wars with homes selling over the asking price. We are already starting to see some of this.
The month of March was average with seven sales. This was down slightly from last year when there were eight sales. Pending sales were disappointing with only 4 homes going under contract.
2014 sales vs 2013 Sales
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.
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