Westborough Massachusetts Real Estate Market May 2013
Westborough MA Real Estate Activity For May 2013 vs May 2012
In May of 2013 there were 11 homes that closed within the month for Westborough MA Real Estate. This is an decrease of 2 units, as there were 13 homes that closed in May of 2012.
The Average list price for the homes that closed in May of 2012 was $454,531
The Average list price for the homes that closed in May of 2013 was $465,209
The Average sale price for the homes that closed in May of 2012 was $438,855
The Average sale price for the homes that closed in May of 2013 was $4454,073
The Average Market time for the homes that closed in May of 2012 was 115 days.
The Average Market time for the homes that closed in May of 2013 was 94 days.
Homes Under Contract For May 2013
34 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $485,905. The average time on the market for these homes were 77 days. With 34 homes going under contract, this was an exceptional month for pending sales. Homes are selling as fast as they hit the market right now with such low inventory. The amount of homes going under contract would more than likely be even higher if there were more homes entering the market.
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 May 2013 Homes For Sale Inventory Levels
The are currently 52 homes on the market. The average list price of these homes is $507,478. The average days on the market is 102.
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 Westboro 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 June nothing has changed and in fact inventory has dropped even further. The amount of homes for sale dropped from last month by eight homes. 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 there are so few homes 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 May was below average with only eleven closed sales. This was a slightly lower amount of homes that sold in the same time frame as last year. Again this is primarily due to the fact that there are so few homes for sale and the Westborough real estate market having slowed down at all. The market right now is super hot with homes selling as fast as they are listed for sale.
Year to date there have been 40 home sales. At this same point in time last year there were 50 sales.
To learn more about Westborough Massachusetts see the Westborough community guide.
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 Westboro MA Homes For Sale.