July

The Northbridge Homes For Sale Market Report

Interesting.  We have curve inversion in Northbridge.  Curve inversion is when sellers are currently priced lower than the recent average sale price.  Why does that happen?  Well, the best properties, in the best condition, tend to sell first, but when demand softens, the remaining properties have to cut prices to entice buyers.  That can often lead to a market condition where there are too many properties that need work and not enough buyers, so the average asking price (of properties that need work) drops below the sold (properties that needed less work). That is probably what we have here.

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

What we're seeing also, is a drop in transaction from the last couple of years. We aren't seeing a big spike in inventory, but if transactions continue to fall, we will see that. 

What should potential home buyers do in Northbridge?

Just as in Northborough, Northbridge buyers no longer need to chase property.  The best properties are moving quickly, but many will be passed over initially.  This is a good time to find a fixer-upper where you can build some elbow equity. 

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What should future home sellers do in Northbridge?

Home sellers should recognize that the market is headed towards neutral, and while still good, isn't going to be as easy as it was last year or the year before.  With an average of 72 days on market, many homes are taking time to find the right buyer. 

Northbridge Homes For Sale and Sold Market Statistics - MLS Data

  • The Northbridge “Home Seller Index” (HSI): 179 Last Report: 194
  • There are 28 homes currently listed as For Sale by Home Sellers.
  • In Northbridge there have been 99 houses sold in the last 6 months, and 68 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 60 days for the last 6 months of SOLD homes In Northbridge.
  • Homes for sale have been looking for buyers for an average of 72 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $189 (vs. $189 also in the last report)
  • Current home sellers are looking for $178/sq foot
  • There was an Average Sold Price of $350,363.
  • Northbridge, MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 2 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!.

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