Hopkinton Massachusetts Real Estate Market August 2013
See what has gone on in the Hopkinton Real Estate market for the month of August along with year over year comparisons. Learn why buying real estate in Hopkinton MA is a popular choice of many home buyers relocating into the Metrowest area.
Hopkinton MA Real Estate Activity For August 2013 vs August 2012
In August of 2012 there were 21 homes that closed within the month for Hopkinton MA Real Estate. This is a decrease of 5 units, as there were 26 homes that closed August of 2012.
The Average list price for the homes that closed for August of 2012 was $672,300
The Average list price for the homes that closed for August of 2013 was $646,976
The Average sale price for the homes that closed for August of 2012 was $657,469
The Average sale price for the homes that closed for August of 2013 was $625,019
The Average Market time for the homes that closed for August of 2012 was 81 days.
The Average Market time for the homes that closed for August of 2013 was 53 days.
Homes Under Contract For August 2013
14 homes went under agreement in Hopkinton Massachusetts in the month of August. The average list price of the homes that went under agreement was $510,621. The average time on the market for these homes were 64 days. The number of homes going under contract for August was a decent amount for this time of year. Real Estate activity has slowed quite a bit from the insanely busy pace of the Spring market.
January 2010 – 2012 Final Year Real Estate Market Statistics For Hopkinton MA
For the period of January to December of 2012 there were 203 properties sold.
For the period of January to December of 2011 there were 147 properties sold.
For the period of January to December 2010 there were 141 properties sold.
For the period of January to December in 2012 the average list price was $574,394, the average sale price was $559,617, the average market time was 104 days.
For the period of January to December in 2011 the average list price was $559,057, the average sale price was $544,990 and the average market time was 102 days.
For the period of January to December in 2010 the average list price was $558,825 the average sale price was $541,061 and the average time on the market was 107 days.
Current August Homes For Sale Inventory Levels
The are currently 54 homes on the market which is a pretty large drop from last month when inventory started to rise a bit. The average list price of these homes is $661,465. The average days on the market is 213. Current inventory remains incredibly low in Hopkinton. Average days on the market is being inflated quite a bit by new construction “to be built homes.”
Hopkinton MA Real Estate Market Analysis
In 2012 the Hopkinton Real Estate market was very different than the previous two years. There was a substantial gain in the number of homes sold. Sales volume was up about 20% over each of the prior two years. Homes priced properly went under contact in a 60-90 day window with the average time being around 4 months. The upper end of the market remained week with market value erosion still present. The lower end of the market (under 500k) was incredibly strong with values holding more steady and in some cases rising slightly.
Current home inventory levels have remained very low for many months starting around the Fall of last year and continuing through the Spring and Summer of 2013. Inventory rose briefly in the month of July but has dropped again to around the fifty five homes for sale. Homes for sale in Hopkinton have going under contract as quickly as they hit the market throughout most of this year. In fact over most of the Spring, numerous homes have sold in under a week with multiple offers and sales prices in many cases being over asking! Low home inventory combined with attractive interest has been the driving force behind a much different real estate market this year.
Lower inventory is always a good sign for those considering to sell their home. There is no question that this year the real estate market has taken a sudden turn for the better with market values increasing quite a bit. What will be interesting to see going forward is if it continues. The market in July and August was not as crazy as the Spring market where homes were selling almost as quickly as they were put up for sale. It will be interesting to see what transpires over the course of the Fall and Winter market.
Home sales in Hopkinton finished the year strong completely crushing the totals from last year. For 2012 there were 203 sales! In 2011 there were only 147. This is obviously a substantial difference in the amount of sales.
So far year to date there have been 126 closed sales which is fourteen less than last year at this time.
The above statistics are for single family homes only and do not include condominiums and multi family properties.
Search Hopkinton Massachusetts Homes For Sale here.