OK! A new year is always a good time to take a snapshot of where the market is. There's a lot of complicating factors in January. There's less inventory, and many of the homes still on this time year have bad stats, but still, it's where we start.
In Brief, this report shows where the most demand vs. supply is. It is not my personal ranking of where you should live, but it should give you insight in to how hard it might be to find a house in your favorite community. In the towns at the top, homes are selling faster, often outpacing inventory, and buyers are finding themselves in competitive situations more often. At the bottom, sellers are struggling to find buyers, and towns often have very high market times. For More information on Hot Seller Index Town Methodology, check here:
See All the Rankings!
Here are some things that stood out to me.
- Framingham reaches a new high with the #2 ranking. Framingham has only been as low as 6, I think, but it's not showing any signs of cooling off. I'm sure a lot of that is driven by the good prices in Framingham, but the recent increase in residential taxes may cool off some buyers.
- Westborough from this time last year has climbed all the way from #17 to #3 since January of last year. Much of that is simply the total lack of anyone selling in Westborough, but some, I'm sure, is the competitive Hopkinton Market.
- Speaking of which, Hopkinton has bounced back into the top four after dropping briefly to six, which was it's lowest ranking so far.
- The Sudbury ranking is a little misleading. If you are looking under 650K, Sudbury is consistently a top 10 market. But there are so many properties over 800K in Sudbury - that aren't selling very fast - that the overall town statistics have done poorly in all my rankings.
- Marlborough and Hudson have remained in the top half in all the rankings so far. Buyers are outnumbering sellers in these markets consistently, but not so much that it's a sellers market.
- Lastly, from April of last year, the average score on the Hot Seller Index (unweighted) was 73.6, after a tough winter, transactions were quite slow, and April probably represented the low of the year. A number in the 70's is a softer, but still neutral market. We start of this year at 81.9, up 8 points on the HSI, which is a big jump, and represents a number that is still neutral, but far less soft.
- Medfield has returned to earth, after breaking the top 5 in October. Sudbury and Medfield are the most "expensive" markets in my index, and neither, on the whole, has done much then float around the middle. This is clearly reflective of the more difficult economic times, and peoples reluctance to commit big sums of money to housing.
Do Good Things Today!
*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.