Framingham Massachusetts Real Estate Report October 2013
See what has gone on in the Framingham Real Estate market for October 2013 along with year over year comparisons. Learn why buying realty in Framingham MA is a popular choice of many home buyers relocating into the Metrowest area.
Framingham MA Real Estate Activity For October 2013 vs October 2012
In October of 2013 there were 42 homes that closed within the month for Framingham Real Estate. This is an increase of 8 units, as there were 34 homes that closed in October of 2012. The amount of closed sales in October was outstanding, especially for October which is usually a slower time of year for home sales.
The average list price for the homes that closed in October of 2012 was $332,971
The average list price for the homes that closed in October of 2013 was $361,808
The average sale price for the homes that closed in October of 2012 was $322,858
The average sale price for the homes that closed in October of 2013 was $357,832
The average market time for the homes that closed in October of 2012 was 60 days.
The average market time for the homes that closed in October of 2013 was 46 days.
Homes Under Contract For October 2013
35 homes went under agreement in the month of October. The average list price of the homes that went under agreement was $396,488. The average time on the market for these homes were 38 days. October was also an exceptional month for homes going under agreement as well.
January 2010 – 2012 Final Year Real Estate Market Statistics For Framingham Massachusetts
For the period of January to December of 2012 there were 473 properties sold.
For the period of January to December of 2011 there were 394 properties sold.
For the period of January to December 2010 there were 429 properties sold.
For the period of January to December in 2012 the average list price was $338,711 the average sale price was $329,877 the average market time was 94 days.
For the period of January to December in 2011 the average list price was $333,048 the average sale price was $320,743 and the average market time was 99 days.
For the period of January to December in 2010 the average list price was $331,512 the average sale price was $322,233 and the average time on the market was 93 days.
Current October 2013 Home For Sale Inventory Levels
The are currently 100 homes on the market in Framingham Massachusetts. The average list price of these homes is $437,034. The average days on the market is 109. Inventory levels remained exactly the same from September.
Framingham MA Real Estate Market Analysis
In 2012 the Framingham Real Estate market had a substantial increase in the amount of homes sold as compared to 2011. This was one of the top performing towns in the entire Metrowest area! Homes priced properly generally moved on average in a 3-4 month time period. Real Estate values firmed quite a bit especially in the lower end of the market. This was especially true as we moved toward the latter part of the year as home inventory continued to drop. Home is the in the upper end of the market (over 500k) took a little longer to sell than those under this price point.
The average days on market was substantially similar to the previous two years although a little better in 2012. The lower end of the market (under 400k) remained strong with values holding firmer than in the upper ends of the market. Overall the Framingham MA Real Estate market has been fairly consistent over the last three year.
The Framingham real estate market was exceptional in 2012 especially when compared to some of the other local area towns. For 2012 the total number of sales was 473! In 2011 there were only 394 sales. This is about a 16% increase which is absolutely fantastic! There were not many towns that showed such an increase in sales volume. Framingham had a very good year! The market in 2013 has completely changed to a seller’s market.
Current home inventory levels remained the same from last month which is usual to see. As we head into November, inventory has continued to remain at ultra low levels which has made it a very competitive environment for buyers. Sales have been exceptionally strong in Framingham this year. Framingham has seen one of the highest increases in the amount of homes sold in all of Metrowest.
It is common to see a decrease in activity through the end of Summer and Fall but Framingham has been one of the few towns where that has not been the case. In many of the other local towns you can see a noticeable slow down. Framingham has bucked the trend! Homes this month sold as fast as they hit the market in most price points. Lower home inventory levels are always great for those considering to sell their home, as supply and demand is always a factor with Real Estate values.
October was no different statistically than the rest of the year in Framingham. There were 42 closed properties for October which is a very health figure for closed home sales. October sales figures are not usually that strong but Framingham has been consistently good with no slow down in sight. The amount of homes going under contract in October was also exceptionally strong with 35.
So far this year there have been over 500 home sales. In fact the multiple listing service does not show the amount of sales when it goes over 500 which is disappointing because I can’t show the exact amount! At this same point in time last year there were 402 sales. There are more than 100 more sales so far this year!
The above Framingham Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Framingham MA homes for sale.