Westborough Massachusetts Real Estate Market September 2013
See what has gone on in the Westborough Real Estate market for September 2013 along with year over year comparisons. Learn why buying real estate in Westborough MA is a popular choice of many home buyers relocating into the Metrowest area.
Westborough MA Real Estate Activity For September 2013 vs September 2012
In September of 2013 there were 22 homes that closed within the month for Westborough MA Real Estate. This is an increase of 12 units, as there were 10 homes that closed in September of 2012.
The Average list price for the homes that closed in September of 2012 was $446,280
The Average list price for the homes that closed in September of 2013 was $439,582
The Average sale price for the homes that closed in September of 2012 was $431,150
The Average sale price for the homes that closed in September of 2013 was $424,450
The Average Market time for the homes that closed in September of 2012 was 119 days.
The Average Market time for the homes that closed in September of 2013 was 110days.
Homes Under Contract For September 2013
6 homes went under agreement in the month of September. The average list price of the homes that went under agreement was $558,933. The average time on the market for these homes were 80 days. With 6 homes going under contract, this was a much slower month for pending sales. Homes in the lower half of the market are selling as fast as they hit the market right now with such low inventory. There are however not enough properties entering the market which has kept inventory consistently low. The amount of homes going pending more than likely would have been 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 September 2013 Homes For Sale Inventory Levels
The are currently 69 homes on the market. The average list price of these homes is $634,448. The average days on the market is 139.
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 October the market has remained very consistent. Inventory levels have hovered around 55-65 homes for sale although this month the inventory has dropped in the forties with only 48 homes for sale.
The amount of homes for sale dropped quite a bit from last month. 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 September was very good with 22 closed sales. This was a huge increase of the number of homes that sold in the same time frame as last year. The 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 125 home sales. At this same point in time last year there were 130 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.