Overview of the Upton Housing Market

Upton has had a nice bounce back to get us back on the path of improving local Home Selling markets, where we see a jump in the HSI to 72. But there's some interesting elements in this report that show that Upton is a market divided, and although some towns have a pretty clear story to tell, the picture in Upton is more muddled. First off, there's a clear imbalance between sellers and buyers - and only a limited number of pending homes that will fall through in the next report. There are too many sellers for the number of transactions. Normally, we'd see high market times for Sold homes, but that's not what we see: At just 108 Days on market for the average Upton sale, that indicates a market that should be much higher than an HSI of 72 - we usually don't see that unless we're in the high 80's to 90's. But then there's the average market time for actives at 174 days - almost six months.  That shows that sellers who are too high in price or don't offer enough features are sitting waiting for their buyers. But we do see that the buyers in Upton have been motivated - pushing up the $/sq foot back to $153.

 

So what to make of it? Well, what I see is that when the highly desirable stuff comes on, buyers jump on it, but there are a number of sellers who aren't that motivated - or who aren't aware that there is too many homes and not enough buyers based on Upton's track record. So, some home sellers get it, and some don't. That's going to get some pretty frustrated for sure.

 

Just one comment on Upton's distressed inventory: There isn't any! No short-sales, which I think is the first time that we haven't had any in a town since I started keeping track. One foreclosure, but that's hardly anything to write about. So I won't.

 

Upton Real Estate For Sale and Sold Market Statistics - Raw MLS Data

 

 

 

Home Buyers in Upton should see homes that are

worthwhile, it's has less competition than

some of the other towns at the moment.

  • There are 57 homes (vs. 31 in the last Upton Real Estate Report) listed as For Sale.
  • There have been 32 houses sold (vs. 27) in the last 6 months, and 21 homes sold (vs. 13) in the last 3 months.
  • There was an Average Market Time of 108 days (vs. 127) for just SOLD homes.
  • There is an Average Market Time of 174 days of the homes For Sale.
  • The Dollars paid per Square Foot in Upton is $153 (vs. $144 )
  • There was an Average Sold Price of $320,339 for sold homes.
  • Upton, MA has 1 properties (vs. 1) advertised as lender owned/foreclosure (typically foreclosure) .
  • Upton has 0 properties advertised (vs. 2) as a shortsale is going to be needed by lender .
  • Upton “Hot Seller Index” (HSI):72 Last Report: 62

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

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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.

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*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.