Westborough Massachusetts Real Estate Market May 2015
Do you want to see what has gone on in the Westborough Real Estate market for May, along with year over year comparisons? Take a look below for complete details on the Westborough Real Estate scene. 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 May 2015 vs May 2014
In May of 2015 there were 12 homes that closed within the month for Westborough MA Real Estate. This is a decrease of 12 units, as there were 24 homes that closed in May of 2014.
The average list price for the homes that closed in May of 2014 was $502,721
The average list price for the homes that closed in May of 2015 was $551,858
The average sale price for the homes that closed in May of 2014 was $493,413
The average sale price for the homes that closed in May of 2015 was $546,542
The average market time for the homes that closed in May of 2014 was 63 days.
The average market time for the homes that closed in May of 2015 was 54 days.
Homes Under Contract For May 2015
18 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $532,772. The average time on the market for these homes were 69 days. With 18 homes going under contract, May was an terrific 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 May 2015 Homes For Sale Inventory Levels
The are currently 62 homes on the market. The average list price of these homes is $666,918. The average days on the market is 60. Inventory increased again from last month with an addition of 12 more homes to the market! This is the third consecutive month inventory has gone up. This is not all that unexpected given we are in the prime selling season.
Westborough MA Real Estate Market Analysis
Current real estate analysis
Inventory of homes has increased substantially over the last three months. This is typical for the Spring selling season. It has been a dramatic increase as we were hovering at decade lows for home available to purchase. Numerous sellers pushed off listing their homes due to the terrible winter we went through. Additional inventory should hit the market but probably not at the same pace we have seen over the last few months.
In certain pockets of the market where inventory is low, sellers are still in the drivers seat. Generally homes in the 300,000 to $600,000 price points move very quickly if priced appropriately.
The month of May was average with twelve sales. This was down by a substantial margin from last year when sales were double at twenty four. Pending sales however were strong with 18 properties going under contract. The next few months of the year should be excellent for sales. Buyers locating a home they like should be prepared to move quickly as there will be competition.
Year to date there have been 39 sales. At this same point in time last year there were 55 sales.
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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