Southborough Massachusetts Real Estate Report September 2014
Do you want to see what has gone on in the Southborough Real Estate market for September 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 real estate found in Southborough MA 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 September 2014 vs September 2013
In September of 2014 there was 4 homes that closed within the month for Southborough MA Real Estate. This is an decrease of 2 units, as there was 6 homes that closed in August of 2013.
The average list price for the homes that closed in September of 2013 was $651,433
The average list price for the homes that closed in September of 2014 was $709,550
The average sale price for the homes that closed in September of 2013 was $625,500
The average sale price for the homes that closed in September of 2014 was $660,265
The average market time for the homes that closed in September of 2013 was 63 days.
The average market time for the homes that closed in September of 2014 was 172 days.
Homes Under Contract For September 2014
6 homes went under agreement in the month of September. The average list price of the homes that went under agreement was $523,950. The average time on the market for these homes were 24 days. September was a slow month for homes 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 September 2014 Home For Sale Inventory Levels
The are currently 56 homes for sale in Southborough MA. The average list price of these homes is $818,255. The average days on the market is 101. Inventory of homes for sale in Southborough in September increased by six homes for sale. Inventory has stayed in a fairly tight range over most of the year but the last couple months inventory has increased.
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 October the amount of homes for sale had been bouncing around in the forty’s for a good portion of the year. The amount of homes for sale however has increased now for two consecutive months and now stands at 56 which is a fairly large increase. By historical standards this is still pretty low and not enough to change the balance of supply and demand.
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 such a large margin. This is due in large part by a lack of homes coming on the market not some underlying problem with the town.
Southborough is considered one of the blue chip communities in the Metrowest area so it is funny to see sales off by so much. Southborough remains a very popular destination town for buyers but hard to get into in the lower end of the market.
September was another very slow month with only 4 homes that sold. This was similar to last year when there were only 6 sales as well.
Pending sales were also off with a meager 6 homes going under contract.
Sales statistics last year vs this year
Year to date there have been 72 sales. At the same point in time last year there were 95.
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 Southboro homes for sale.