Hopkinton Massachusetts Real Estate Market May 2013
Hopkinton MA Real Estate Activity For May 2013 vs May 2012
In May of 2012 there were 14 homes that closed within the month for Hopkinton MA Real Estate. This is a decrease of 6 units, as there were 20 homes that closed May of 2012.
The Average list price for the homes that closed for May of 2012 was $610,605
The Average list price for the homes that closed for May of 2013 was $541,457
The Average sale price for the homes that closed for May of 2012 was $594,518
The Average sale price for the homes that closed for May of 2013 was $528,857
The Average Market time for the homes that closed for May of 2012 was 134 days.
The Average Market time for the homes that closed for May of 2013 was 89 days.
Homes Under Contract For May 2013
31 homes went under agreement in Hopkinton Massachusetts in the month of May. The average list price of the homes that went under agreement was $644,372. The average time on the market for these homes were 84 days. The number of homes going under contract was incredibly strong for May as the market continues to chug along. There remains a record low amount of homes currently on the 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 May Homes For Sale Inventory Levels
The are currently 43 homes on the market which is a substantial drop from last month. The average list price of these homes is $740,235. The average days on the market is 221. Current inventory is at the lowest point year to date. 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 but are now at the lowest level they have been in years. Inventory has remained low even though we are entering a time of year where typically more homes for sale enter the market. Homes for sale in Hopkinton are going under contract as quickly as they enter the market. In fact over the last month numerous homes have sold in under a week with multiple offers with sales prices over asking! The exceptionally low inventory is driving the market at the moment.
Lower inventory is always a good sign for those considering to sell their home. In fact over the last month it has become common place to see multiple offers and homes selling over asking price. There is no question it looks like the real estate market may have finally bottomed out and in certain pockets we are seeing price appreciation.
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 55 closed sales which is three 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.
To learn more about Hopkinton Massachusetts see the Hopkinton real estate guide.
Search Hopkinton MA Homes For Sale here.