The Southborough Homes For Sale Market Report
Southborough sees some pressure, as the lull that occured last year begins to dissappate. With the number of homes for sale at an all time low, that sets up for a fast moving market this spring.
Can’t see the chart? You can find it Here .
What should active home buyers do in Southborough?
Home buying in Southborough - like any small town in Metrowest - is very trick for novice buyers. The problem is that there are generally too few houses to make good valuation predictions. And Southborough has plenty of quirks, to make things even more tricky. With inventory this low - be careful - sellers are not afraid to ask for too much in the hopes that they might get it, so don't assume that price is rational. Only a solid review of the towns prices will get you to the right spot.
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What should potential home sellers do in Southborough?
There are some prices ranges that are just empty of inventory. With prices up (way up) in Framingham, and Natick and Sudbury having put good distance between Southborough and it's prices, there's an opportunity to reach for prices and see what happens. Clearly, I'm not the only one thinking that, as the average "ask" for homes in town is $246/sq foot - well above the $212 of the last six months, and pretty far ahead of the $220 that Southborough has had as a peak in this cycle (see below). I think Southborough inventory will move quickly this year, even at elevated prices, so smart sellers should try to take advantage of the moment.
Southborough Houses For Sale and Sold Market Statistics - Raw MLS Data
- Southborough‘s “Home Seller Index” (HSI): 141 Last Report: 132
- There are 27 homes listed as For Sale.
- There have been 68 houses sold in the last 6 months, and 46 homes sold in the last 3 months in Southborough.
- The Average number of Days on Market was 69 days for just SOLD homes.
- There is an Average Market Time of 142 days of the Southborough homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged $212 (vs. $200 in the last report)
- Current sellers are looking for $ 246 /sq foot
- There was an Average Sold Price of $637,076 for sold homes.
- Southborough ,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 statistics 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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