Northbridge Massachusetts Real Estate Report January 2014
Want to see what has gone on in the Northbridge Real Estate market for the month of January along with year over year comparisons? Take a look at our reporting of the Northbridge MA market. While you are here take a look at the Realtors guide to Northbridge MA Real Estate where you will find out why Northbridge is a popular choice for home buyers including information on town history, schools, demographics and more.
Northbridge Real Estate Activity For January 2014 vs January 2013
In January of 2014 there were 4 homes that closed within the month for Northbridge MA Real Estate. This is an decrease of 2 units, as there were 6 homes that closed in January of 2013.
The average list price for the homes that closed in January of 2013 was $352,033
The average list price for the homes that closed in January of 2014 was $312,175
The average sale price for the homes that closed in January of 2013 was $344,25
The average sale price for the homes that closed in January of 2014 was $315,063
The average market time for the homes that closed in January of 2013 was 120 days.
The average market time for the homes that closed in January of 2014 was 150 days.
Homes Under Contract For January 2014
6 homes went under agreement in the month of January. The average list price of the homes that went under agreement was $328,433. The average time on the market for these homes were 149 days. January was a slower month for real estate activity as is often the case for this time of the year.
January 2011 – 2013 Final Year Real Estate Market Statistics For Northbridge Massachusetts
For the period of January to December of 2012 there were 144 properties sold.
For the period of January to December of 2012 there were 120 properties sold.
For the period of January to December 2011 there were 89 properties sold.
For the period of January to December in 2012 the average list price was $320,958 the average sale price was $316,448 the average market time was 127 days.
For the period of January to December in 2011 the average list price was $299,841 the average sale price was $286,407 and the average market time was 127 days.
For the period of January to December in 2011 the average list price was $270,662 the average sale price was $260,852 and the average time on the market was 169 days.
Current December 2013 Home For Sale Inventory Levels
The are currently 57 homes on the market in Northbridge MA. The average list price of these homes is $354,886. The average days on the market is 180. Inventory dropped from last month which broke the string of months that inventory had been increasing. For most of the year inventory was dropping from month to month except for the last couple of months. There was a decrease of seven homes for sale from last month.
Northbridge MA Real Estate Market Analysis
In 2013 the Northbridge Real Estate market was much better than in previous years. Not only was there a fairly sizable jump in the amount of homes that were sold but market values also jumped as well. On statistical anomaly was the fact that the average days on market stayed exactly the same as the previous year. Most of the surrounding communities saw a decrease in the average days on the market.
The lower end of the Northbridge market was much stronger than the upper end which was the biggest contributing factor to the days on market remaining higher.
One of the biggest driving forces in the market improving was the low inventory of homes for sale. Throughout most of last year there were far fewer homes for sale than in years past. Supply and demand is always one of the biggest factors in determining home values.
The lower inventory levels are having a positive effect on both the time it is taking for homes to go under contract, as well as the firming of market values.
The Spring was especially strong, with the Summer months also showing strong sales. The latter half of the Fall and Winter were not as strong. This is not all that unusual from a historical perspective.
Moving forward to the first half of 2014, I can envision the market favoring sellers much the way it did last year with low inventory in place. It may not be quite as vibrant as last year but should be steady. Interest rates are higher and so are home values. This could taper the enthusiasm a bit.
For 2013 Northbridge finished the year with 144 home sales. In 2012 there were 120 sales. Northbridge had a decent year in terms of an increase year over year of home sales.
The above Northbridge Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Northbridge Massachusetts homes for sale.