Homes For Sale in Northbridge Market Report
Well, we have some interesting elements in Northbridge. A sign of things to come or no? Let's see what we've got....
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Let's start with the big news - we see the HSI FALLING significantly in Northbridge. See that red line make a quick turn in the downward direction? Try to find that elsewhere on the blog. You won't. Why is that the case? Well we have the number of homes for sale up (the green line), and the number of homes that sold stalled, and fell a bit.
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However, that's not the whole story. Northbridge is really the only town in Metrowest that I track has has a significant amount of new construction. Hopkinton does too- but much of it is not advertised by Pulte, and therefore doesn't go into the stats. Northbridge's new construction is probably underweight as well, but it still makes up about 30% of the listed inventory, so it has a big impact. How's all the new construction doing? Well, there's one number I track that tells us that: The active days on market.
The active days on market, which because of all the new construction, has floated between 260 days and 300 days, fell to 124, as many of the construction opportunities sold out, and their properties fell out of MLS. People are flocking to Northbridge for new construction (relatively affordable new construction). As such, the market is doing quite well, but the HSI is going to look softer because of the extra supply, much of which has recently come on the market (so we'll see DOM climb from here).
It's kept a lid on prices too - $154/ sq foot is the same as the last report, and things have barely moved compared to other towns.
Northbridge Houses For Sale and Sold Market Statistics - Raw MLS Data
- Northbridge “Home Seller Index” (HSI):88 Last Report: 102
- There are 79 homes listed as For Sale in Northbridge.
- There have been 107 houses sold in the last 6 months, and 50 homes sold in the last 3 months.
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- The Average number of Days on Market was 118 days for just SOLD homes.
- There is an Average Market Time of 124 days of the homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged $154 (vs. $154)
- There was an Average Sold Price of $310,794 for sold homes.
- Northbridge ,MA, has 1 properties (vs. 3 in the last report) advertised as lender owned/foreclosure (typically foreclosure) .
- Northbridge has 4 properties advertised as a short-sale is going to be needed by lender.
*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary. (That means you won’t find it anywhere else. Take that, Case-Schilling!).
Matt’s Got More
Hold on there! Don’t go yet. Matt’s got lots more you to check out if you are planning to buy or sell a home. Why not look here, and find out a lot more about Radon, New Construction, Title V, House Styles, Town Assessments, MCAS scores, and even some tips to get the best rate possible on your mortgage.