Southborough Massachusetts Real Estate Report July 2014
Do you want to see what has gone on in the Southborough Real Estate market for July along with year over year comparisons? Take a look below for complete details on the Southborough Real Estate market. While you are here take a look at what’s to love about Southborough real estate to learn why the town is a popular choice with home buyers, including information on town history, schools, demographics and more.
Southborough MA Real Estate Activity For July 2014 vs July 2013
In July of 2014 there was 17 homes that closed within the month for Southborough MA Real Estate. This is an decrease of 1 unit, as there was 18 homes that closed in July of 2013.
The average list price for the homes that closed in July of 2013 was $759,890
The average list price for the homes that closed in July of 2014 was $553,788
The average sale price for the homes that closed in July of 2013 was $749,105
The average sale price for the homes that closed in July of 2014 was $545,782
The average market time for the homes that closed in July of 2013 was 45 days.
The average market time for the homes that closed in July of 2014 was 48 days.
Homes Under Contract For July 2014
3 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $711,567. The average time on the market for these homes were 172 days. July was a very slow month for home going to contract.
January 2011 – 2013 Final Year Real Estate Market Statistics For Southborough Massachusetts
In Southborough MA for the period of January to December of 2012 there were 119 properties sold.
In Southborough MA for the period of January to December of 2012 there were 116 properties sold.
In Southborough MA for the period of January to December 2011 there were 105 properties sold.
In Southborough MA for the period of January to December in 2012 the average list price was $634,407 the average sale price was $626,155 the average market time was 113 days.
In Southborough MA for the period of January to December in 2011 the average list price was $548,546 the average sale price was $527,170 and the average market time was 127 days.
In Southborough MA for the period of January to December in 2011 the average list price was $562,879 the average sale price was $540,857 and the average time on the market was 142 days.
Current July 2014 Home For Sale Inventory Levels
The are currently 43 homes for sale in Southborough MA. The average list price of these homes is $875,823. The average days on the market is 120. Inventory of homes for sale in Southborough in July went down by four homes for sale. Inventory has stayed in a fairly tight range over the last couple of months.
Southborough MA Real Estate Market Analysis
The 2013 real estate market
In 2013 the Southborough Real Estate market only had a slight increase in the amount of homes sold as compared to 2012 but that does not begin to describe the difference in the market. 2013 was a year that will be remembered for the fact that it was the first year in a very long time that we actually saw appreciation in home values for a very long time. Through out the first half of 2013 the market was absolutely sizzling with homes selling in an incredibly short period of time. There were in fact a number of occasions where homes would be selling in the first week, sometimes over asking prices with multiple bids. The real estate market was nothing like we had seen since 2005.
The change is the market was due to a few factors including pent up demand combined with low inventory of homes for sale with record low interest rates. In simple terms it was all about supply and demand.
Lower home inventory is always a good sign for those considering to sell their home as supply and demand plays a big factor with Real Estate values.
in 2013 there were 119 homes sold. In 2012 Southborough had 116 sales.
The 2014 real estate market
As we head into August the amount of homes for sale has been bouncing around in the forty’s. This is still considered historically low and why the market still favors sellers.
Sales have remained down by quite a bit when compared to last year. Southborough is one of the few towns where sales are off by this much. The biggest reason for this has been the lack of homes coming on the market for sale. Southborough remains a very popular destination town for buyers. In some price points buyers do need to act quickly as there is not much inventory available.
July was a very strong month for closed home sales with seventeen. This was similar to last year when July was also strong coming in at eighteen sales.
Pending sales however were not so rosy with only 3 homes going under agreement.
Sales statistics last year vs this year
Year to date there have been 57 sales. At the same point in time last year there were 7.
The above Southborough Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Southborough homes for sale.