Westborough MA Real Estate Market Report November 2013

Westborough Massachusetts Real Estate Market November 2013

Want to know what has gone on in the Westborough Real Estate market for November 2013 along with year over year comparisons? How about also learning why buying realty in Westborough MA is a popular choice of many home buyers relocating into the Metrowest area? Take a look below for the Westborough Real Estate knowledge you are looking for.

Westboro MA Real Estate

 

 

 

 

 

Westborough MA Real Estate Activity For November 2013 vs November 2012

In November of 2013 there were 13 homes that closed within the month for Westborough MA Real Estate. This is an increase of 6 units, as there were 7 homes that closed in November of 2012.

The Average list price for the homes that closed in November of 2012 was $358,208

The Average list price for the homes that closed in November of 2013 was $379,531

The Average sale price for the homes that closed in November of 2012 was $346,594

The Average sale price for the homes that closed in November of 2013 was $372,859

The Average Market time for the homes that closed in November of 2012 was 179 days.

The Average Market time for the homes that closed in November of 2013 was 78 days.

Homes Under Contract For November 2013

7 homes went under agreement in the month of November. The average list price of the homes that went under agreement was $492,043. The average time on the market for these homes were 96 days. With 7 homes going under contract, this would be considered an average month for pending sales, especially given the fact we are in a slower time of the year for real estate sales. Homes in the lower half of the market are still selling incredibly quickly and at a brisk pace.

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 November 2013 Homes For Sale Inventory Levels

The are currently 34 homes on the market. The average list price of these homes is $630,747. The average days on the market is 93. Inventory once again dropped from last month with ten less homes for sale. Available homes for sale is now at the low point for the entire year!

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 entire year. As we move into December the market has remained very consistent. Inventory levels for a good part of the year were around 55 to 65 homes for sale. This past few months however have led to an even further decline in the amount of homes for sale. We now have only 34 homes for sale which is just incredible.

The amount of buyer’s have been greater than the amount of homes entering the market. The lack of housing stock is one of the major contributing factors for home prices to have risen 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 November was pretty decent with 13 closed sales. Sales in November are usually lower due to seasonality trends.  With thirteen sales Westborough nearly doubled the amount from last year at this time.

Year to date there have been 155 home sales. At this same point in time last year there were 145 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.

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