The Southborough Homes For Sale Market Report
Southborough has suddenly popped up on home buyers radar - as we can see, transactions, or houses sold, in the last six months just set a record, at 99.
Can’t see the chart? You can find it Here .
So many transactions means buyers like the prices and the value they are getting for the home - and it also means they don't like what they are getting elsewhere.
What should active home buyers do in Southborough?
Looking for bargains? Well don't bother looking for foreclosures or short-sales in Southborough. They have been scarce for over 3 years now, with just six in the last 3 years (and 3 of those in the first report.) Here's the good news though -pricing in Southborough remains rational - that means fair. How do I know? Because the homes that are priced right have sold in an average of 38 days - that's very, very fast - but the current homes on the market (most of which are overpriced) have already been on 109. That means that buyers aren't chasing property, so prices remain rational. The HSI shows that too (chart above), as Southborough is doing very well for sellers, but the HSI has never broken 160 (let alone 200 or 300, as Framingham, Hopkinton, and Natick have all done in the recent past.
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What should potential home sellers do in Southborough?
Just because the home market isn't crazy, doesn't mean it isn't good. Southborough prices are at a record on this blog, and are close to the all time high in 2005. I don't think prices have overshot by very much either in Southborough, so I think these prices will stay firm. With Natick and Framingham seeing their prices soar, Southborough starts to look like a value, and that is what we are seeing here. Not too much quibbling about prices.
Southborough Houses For Sale and Sold Market Statistics - Raw MLS Data
- Southborough's “Home Seller Index” (HSI): 152 Last Report: 156
- There are 52 homes listed as For Sale.
I had to laugh at the "frost warning" on my phone
today. Truly, after last winter, is anyone worried about
a little frost?
- There have been 99 houses sold in the last 6 months, and 58 homes sold in the last 3 months in Southborough.
- The Average number of Days on Market was 38 days for just SOLD homes.
- There is an Average Market Time of 109 days of the Southborough homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged 224 (vs. 213 in the last report)
- Current sellers are looking for $232 /sq foot
- There was an Average Sold Price of $620,885 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 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!.
Don’t Go Just Yet! More Information for you…
- Should I buy a home that has well water and not city or town water?
- How can I tell if a basement gets water in my potential home purchase?.
- Southborough MA town page and information
- Thinking of being a landlord for investment? Here’s some quick tips.
- How do Home Property Assessments Relate to Real Estate prices? Should I use them for a valuation?
- Landlords: How to prepare for a new tenant
- How Serious is Moss or Lichen on my Roof shingles?
About Matt Heisler
Matt Heisler is a real-estate professional and owner of this website. He has been selling homes in MA for buyers and sellers for over 20 years. He is an expert in foreclosure purchases, short-sale purchases, short-sale sales, buy and hold investing, fix and flip investing, and of course traditional residential home sales. He is happy to take questions as they pertain to real estate on Title V, Radon, Termites, Sump Pumps, Roofs, Foundations, Wells, Septic Systems, Cash-Flow, Staging, and a host of other housing issues. As a Vanderbilt University alumnus, he is proud to serve his local community.
*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.