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July 9, 2017

Real Estate Sales for Worcester, MA - Home Sales and Real Estate Market Report (2017)

 

July

The Worcester Homes For Sale Market Report

Sometimes, things aren't complicated.  The prices paid chart - and rising optimism of sellers - is clear to see in Central Mass biggest market. 

Can’t see the chart? You can find it Here .

To me, this chart is unabashedly positive.  Let's look at the details:
This chart as well, shows nothing but optimism.  With demand strong in Worcester, and transactions near a high and inventory (homes for sale) at a low, that puts pressure on each and every market in the surrounding area.  This is good news for home sellers across metrowest and central mass, and tells buyers to pounce on any weakness that they see in the markets.  It argues things are headed higher.

What should potential home buyers do in Worcester?

There are options!  It's a big city, and there are always options.  It remains a town where "looking harder" is a good option.  There's little need to overpay, as there will always be another property.  However, the good stuff is moving quickly, and prices continue to move up.  Things will be more expensive next spring.  

Find Your Next Home or Check out the Competition!

What should future home sellers do in Worcester?

Home sellers will see good traffic and the best prices in a decade.  It doesn't look like we're done though - things could keep moving up, and this chart is positive enough where I think that might be the case. 

Worcester Homes For Sale and Sold Market Statistics - MLS Data

  • The Worcester “Home Seller Index” (HSI): 186 Last Report:185
  • There are 196  homes actively listed as For Sale for Home Buyers.
  • In Worcester there have been 856 houses sold in the last 6 months, and 631 homes sold in the last 3 months.
  • The Average number of Days on Market was 39 days for recently SOLD homes In Worcester.
  • Homes for sale have been sitting for an average of 77 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 147 (vs. 142 in the last report)
  • Current home sellers are looking for $ 155 /sq foot
  • There was an Average Sold Price of $229,150 .
  • Worcester, MA, has 13 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 9 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Worcester, MA
July 7, 2017

Real Estate Sales for Westborough, MA - Home Sales and Real Estate Market Report (2017)

 

July

The Westborough Homes For Sale Market Report

Here we have another chart that shows buyers have remained disciplined in the face of low inventory.  Sale prices in Westborough have actually fallen from their peak.  I'm not going to make a mountain out of a mole hill though - they are still way up from where they were last year at this time.  It just provides more evidence that there is a debate out their in the marketplace - is this a consolidation until a push higher?  Or is the top in and there's no where to go for this cycle?

Can’t see the chart? You can find it Here .

Part of the answer will be found in the detail data.  Rising inventories will put a cap on prices.  While they are up off the lows, they still remain very tight, and it's a difficult market for buyers in almost all towns. 

What should potential home buyers do in Westborough?

Home buyers should be aware that they don't have to pay "premium" prices in many cases.  Other buyers are holding back - so you can too.  There is more competition in the entry level market, but the luxury market is softening noticeably. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Westborough?

It's still a great market for home sellers, and while a fast sale and competitive bids aren't a guarantee, if your home is well positioned, you'll get some of the best prices in a decade.  Things could get competitive soon - so watch the market carefully at this juncture.

Westborough Homes For Sale and Sold Market Statistics - MLS Data

    • The Westborough “Home Seller Index” (HSI): 130 Last Report:170
    • There are 40 homes actively listed as For Sale for Home Buyers.
    • In Westborough there have been 104 houses sold in the last 6 months, and 81 homes sold in the last 3 months.
Will Buyers go to the beach and wait for more options? Or will sellers head to the coast while the buyers snap up best available?
  • The Average number of Days on Market was 29 days for recently SOLD homes In Westborough.
  • Homes for sale have been sitting for an average of 133 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 227 (vs. 234 in the last report)
  • Current home sellers are looking for $ 234 /sq foot
  • There was an Average Sold Price of $584,170 .
  • Westborough, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 1 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Westborough, MA
July 5, 2017

Real Estate Sales for Sutton, MA - Home Sales and Real Estate Market Report (2017)

July

The Sutton Homes For Sale Market Report

What is going on with sellers in Sutton?  It's a small data set, but a number of them seem to be asking for the moon and the starts for asking prices.  Meanwhile, the buyers are retrenching.  This is not a good set up for most sellers.  Let's look at the details in the second chart. 

Can’t see the chart? You can find it Here .

OK, inventory (the number of homes for sale) is up a bit, but that's not a huge concern.  HSI hasn't moved much, and the transactions are a bit light, but within the range of the last 3 years.  Nope, I don't get it.  Not sure why some sellers are so high - doesn't make a lot of sense. 

What should potential home buyers do in Sutton?

Home Buyers should be wary - there are some seriously crazy prices out there.  Not all sellers will be out of touch, but some certainly are.  Do your research and check recent sales to know you're in the right price.

Find Your Next Home or Check out the Competition!

What should future home sellers do in Sutton?

Well, let's start with don't look at what sellers are asking - look at what they are getting!  Sellers are reaching too high in more than a couple of cases, and they are likely to be waiting a long time for a buyer (or an appraiser!) who is thinking what they are thinking.  

Sutton Homes For Sale and Sold Market Statistics - MLS Data

  • The Sutton “Home Seller Index” (HSI): 158 Last Report:145 
  • There are 31 homes actively listed as For Sale for Home Buyers.
  • In Sutton there have been 71 houses sold in the last 6 months, and 53 homes sold in the last 3 months.
  • The Average number of Days on Market was 46 days for recently SOLD homes In Sutton.
  • Homes for sale have been sitting for an average of 85 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $169 ( $168 vs. in the last report)
  • Current home sellers are looking for $225 /sq foot
  • There was an Average Sold Price of $351,748.
  • Sutton, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Sutton, MA
July 3, 2017

Real Estate Sales for Sudbury, MA - Home Sales and Real Estate Market Report (2017)

July

The Sudbury Homes For Sale Market Report

OK!  This is a really cool price chart.  Look how in the last report, the buyers and sellers were far apart.  Home Sellers wanted steep increases over what fall prices were, and buyers had pulled back a bit.  The spring, however, changes everyone's motivation.  Sellers came down, and buyers came up, and as a result there was a flurry of transactions.   However, it's not all flowers and chocolate.  Let's look at the underlying data to see why. 

Can’t see the chart? You can find it Here .

The first think I notice is that the number of homes for sale is up SHARPLY.  In the last four years, we've only seen this amount of homes twice - in July of 15 and July of 2013.  Maybe July is a bad month for Sudbury!  But it's up.  Also, the number of transactions didn't climb to 200 - which has been a pretty consistent peak. What I don't see are a lot of price pressures - so I'd expect prices to pull back this fall in Sudbury.

 

What should potential home buyers do in Sudbury?

You can probably drive a hard bargain on some homes.  The average home has been on the market for 6 months- and those sellers are motivated and looking for deals to get done.  If your target home is sitting, push for concessions. 

 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Sudbury?

Home sellers should see the market isn't quite as empty as it was.  Don't get careless and assume that your house will sell even if you don't do the little things.  The market looks price sensitive to me, and picky.  Do the work, and price it right.

Sudbury Homes For Sale and Sold Market Statistics - MLS Data

  • The Sudbury “Home Seller Index” (HSI): 161 Last Report: 158
  • There are 80 homes actively listed as For Sale for Home Buyers.
  • In Sudbury there have been 169 houses sold in the last 6 months, and 126  homes sold in the last 3 months.
  • The Average number of Days on Market was 39 days for recently SOLD homes In Sudbury.
  • Homes for sale have been sitting for an average of 141 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $267 (vs. $151 in the last report)
  • Current home sellers are looking for $ 265 /sq foot
  • There was an Average Sold Price of $791,621 .
  • Sudbury, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Sudbury, MA
July 1, 2017

Real Estate Sales for Upton, MA - Home Sales and Real Estate Market Report (2017)

June

The Upton Homes For Sale Market Report

Upton prices are softening - which is certainly a surprise - especially since we're not really seeing large increases in either inventory (homes for sale) or the length of time that homes are sitting on the market. In fact, on balance, the HSI has gone up a little bit, which makes the pull back even more interesting. 

 

Can’t see the chart? You can find it Here .

In the chart above, you can see inventory remains tight, and transaction picked up seasonally, and remain where they've been in this cycle. 

What should potential home buyers do in Upton?

Upton remains a great place to get deals, perhaps now so more than even before.  It's hard not to argue that there's an opportunity here for  buyers in Upton, in a market where there are few opportunities. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Upton?

Home sellers should recognizer that buyers are being more choosy in Upton, so if you want your home to move quickly and for top dollar, it needs to be ready to go. 

Upton Homes For Sale and Sold Market Statistics - MLS Data

  • The Upton “Home Seller Index” (HSI): 143 Last Report:134
  • There are 27 homes actively listed as For Sale for Home Buyers.Prices are no longer rising in Upton - start of a new trend?
  • In Upton there have been 74 houses sold in the last 6 months, and 56 homes sold in the last 3 months.
  • The Average number of Days on Market was 51 days for recently SOLD homes In Upton.
  • Homes for sale have been sitting for an average of 76 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $190 ($199 vs. in the last report)
  • Current home sellers are looking for $ X /sq foot
  • There was an Average Sold Price of $472,479 .
  • Upton, MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 1 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Upton, Ma
June 22, 2017

Real Estate Sales for Southboro, MA - Home Sales and Real Estate Market Report (2017)

June

The Southboro Homes For Sale Market Report

I thought Southborough might be due for a price pick up this spring, but so far, it hasn't happened.  Prices remain below where they were last spring. 

Can’t see the chart? You can find it Here .

Other metrics are more positive.  Inventory (homes for sale) remains at the tightest levels, and the HSI is rising.  Still below 200, but rising.  If transactions keep outpacing sales, things could get hot.  

Not that Southborough is hurting, but it's getting into some price sensitivity.  

What should potential home buyers do in Southboro ?

It's a stretch to say that there's no price pressures. There are, especially under 800K.  But there aren't a lot of crazy bid wars either - there's just not enough demand at most price levels. 

Search for Your Next Home or Check out the Competition!

What should future home sellers do in Southboro ?

Be careful of overreach!  Buyers have remained disciplined in Southborough, and remain so.  Homes priced beyond the market don't sell, they sit till the price is corrected. 

Southboro Homes For Sale and Sold Market Statistics - MLS Data

  • The Southboro “Home Seller Index” (HSI):170  Last Report:146
  • There are 32 homes actively listed as For Sale for Home Buyers.
  • In Southboro there have been 91 houses sold in the last 6 months, and 75 homes sold in the last 3 months.
  • The Average number of Days on Market was 51 days for recently SOLD homes In Southboro.
  • Homes for sale have been sitting for an average of 101 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $220 (vs. 220 in the last report)
  • Current home sellers are looking for $ 231 /sq foot
  • There was an Average Sold Price of $585,696.
  • Southboro , MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Southborough, MA
June 20, 2017

Real Estate Sales for Shrewsbury, MA - Home Sales and Real Estate Market Report (2017)

June

The Shrewsbury Homes For Sale Market Report

I though I might see a big buildup in home inventory in Shrewsbury - that's what it feels like - but no, they've just sorta reverted to more tight levels, as opposed to crazy tight.  As a result, prices have continued to grind higher.  Sellers are just sorta riding the edge. 

Can’t see the chart? You can find it Here .

When we look at the detail data, we see the drop in the HSI, back down to where it was last year, but still above where's it's been much of this recovery.  Demand continues to outpace supply, consistently. 

What should potential home buyers do in Shrewsbury?

I see some signs that things are loosening up - but don't kid yourself, there's still a lot of buyers.  Neighborhood homes are under the most pressure, so just be careful to know what you value and don't shoot the moon for a home full of issues. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Shrewsbury?

Things are still easy for home sellers.  Although there's more than a few that are having trouble selling, mostly because they are either badly marketed, or just are at prices that won't work. Don't be that guy!  Having your house on the market for 6 months is no fun - and there's no need for that in Shrewsbury.

Shrewsbury Homes For Sale and Sold Market Statistics - MLS Data

  • The Shrewsbury “Home Seller Index” (HSI):187  Last Report:223
  • There are 76 homes actively listed as For Sale for Home Buyers.
  • In Shrewsbury there have been 235 houses sold in the last 6 months, and 171 homes sold in the last 3 months.
  • The Average number of Days on Market was 40 days for recently SOLD homes In Shrewsbury.
  • Homes for sale have been sitting for an average of 113 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $210 (vs. $209 in the last report)
  • Current home sellers are looking for $ 219 /sq foot
  • There was an Average Sold Price of $449,596 .
  • Shrewsbury, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Shrewsbury MA
June 18, 2017

Real Estate Sales for Northbridge, MA - Home Sales and Real Estate Market Report (2017)

June

The Northbridge Homes For Sale Market Report

After what seems a very long, slow trend, the homes for sale in Northbridge is now in line with many of the other towns in the area.  They had a new construction surplus to blow through, and as of this report, still have quite a bit - a little less than half the listing are new construction.  There is no doubt, however, that things have improved - the average time on market has fallen from 300 days to just 80 - a remarkable improvement over the last 4 years. This will put pressure on prices, but until the new construction starts to move higher, prices could still stay where they are at. Also worth noting is that bank impacted inventory is at the lowest level since we started watching.  Let's see.

Can’t see the chart? You can find it Here .

OK, here what we see is that buyers are still paying prices that they were paying in 2015.  Interestingly, though, sellers have moved asking prices sharply higher.  We usually see sellers narrow that gap, but the optimism is notable - sellers feel the market is tight, and are asking higher prices to see if the buyers will pay them.  The guess here is that they will - Northbridge is still a good value-  and buyers are starting to look further west for value.

What should potential home buyers do in Northbridge?

There are still new construction choices in Northbridge - but watch the value.  Current prices are rich valuations over what recently has been purchased. Builders look to be doing the majority of the price raising.

Find Your Next Home or Check out the Competition!

What should future home sellers do in Northbridge?

Home sellers not competing directly with new construction will see quick sales for desirable properties.  You can reach for price a bit -but not too much - as the buyers aren't yet chasing the sellers. 

Northbridge Homes For Sale and Sold Market Statistics - MLS Data

  • The Northbridge “Home Seller Index” (HSI): 181 Last Report:182
  • There are 35 homes actively listed as For Sale for Home Buyers.
  • In Northbridge there have been 118 houses sold in the last 6 months, and 86 homes sold in the last 3 months.
  • The Average number of Days on Market was 50 days for recently SOLD homes In Northbridge.
  • Homes for sale have been sitting for an average of 84 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $166 (vs. $158 in the last report)
  • Current home sellers are looking for $ 189 /sq foot
  • There was an Average Sold Price of $339,462 .
  • Northbridge, MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Northbridge MA
June 4, 2017

Real Estate Sales for Northborough, MA - Home Sales and Real Estate Market Report (2017)

June

The Northborough Homes For Sale Market Report

Northborough home sellers are enjoying a market moving up, with quick sales and lots of interest.  It hasn't gone unnoticed either - as home sellers are pushing prices up sharply and asking for more.   Home buyers are still seeing bargains, and they are pushing up the prices. 

Can’t see the chart? You can find it Here .

Not much confusion when we look at the details.  Transactions are near a peak, and inventory is near the lows.  HSI remains near it's recent peak over 200. 

What should potential home buyers do in Northborough ?

Home buyers should move quickly - prices still have room to run, as Northborough has been a laggard in this cycle. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Northborough ?

Home sellers should recognize that while the market is good, you'll still need to get your home in the best light to create outsized attention.  You can't just put  a sign on your lawn and get top dollar.

Northborough Homes For Sale and Sold Market Statistics - MLS Data

  • The Northborough “Home Seller Index” (HSI):202  Last Report:211
  • There are 30 homes actively listed as For Sale for Home Buyers.
  • In Northborough there have been 117 houses sold in the last 6 months, and 80 homes sold in the last 3 months.
  • The Average number of Days on Market was 45 days for recently SOLD homes In Northborough.
  • Homes for sale have been sitting for an average of 74 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged 212 (vs. 205 in the last report)
  • Current home sellers are looking for $ 229 /sq foot
  • There was an Average Sold Price of $439,410 .
  • Northborough , MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 1 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Northborough, MA
June 2, 2017

Real Estate Sales for Natick, MA - Home Sales and Real Estate Market Report (2017)

 

June

The Natick Homes For Sale Market Report

What's interesting about this report is that the HSI is still very high (see chart below), at 255.  It has remained between 250 and up for over a year - but prices paid have flattened out.  The market remains good if you're under 700K, but with the average listing price near 900K, there are a few homes that just aren't selling. If you've been following Natick in this space, it's been the energizer bunny, it keeps on going and going.

But now, it has stalled. 

 

Can’t see the chart? You can find it Here .

Looking closer at the the data, we see the transactions are down, but not sharply, and remain elevated.  Inventories remain tight, about where they wre last year. 

What should potential home buyers do in Natick ?

Home buyers should be wary of setting new price levels.  That hasn't been the case.  Things in lower prices ranges are moving quickly, but there are lots of choices above 1M. 

Find Your Next Home or Check out the Competition!

What should future home sellers do in Natick ?

Home sellers still have a great market.  But it does look like there could be no more room to run, for a while anyway.  If you were looking for a time to get out - now could be that time. 

Natick Homes For Sale and Sold Market Statistics - MLS Data

  • The Natick “Home Seller Index” (HSI): 255 Last Report: 309
  • There are 44 homes actively listed as For Sale for Home Buyers.
  • In Natick there have been 211 houses sold in the last 6 months, and 140 homes sold in the last 3 months.
  • The Average number of Days on Market was 30 days for recently SOLD homes In Natick.
  • Homes for sale have been sitting for an average of 82 days homes For Sale (currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $293 (vs. 293 in the last report)
  • Current home sellers are looking for $298 /sq foot
  • There was an Average Sold Price of $627,162 .
  • Natick , MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Other Posts You May Enjoy by Matt the Realtor

Posted in Natick, MA