Westborough, MA Home Sales and Real Estate Market Report (2019)

July

The Westborough Homes For Sale Market Report

Looking at the the sellers asking price line, we see that the seller in Westborough have also reduced their expectations.  Home buyers, however, are really digging in, and we are actually seeing a small pullback.  As the number of competitive bids has thinned out, that surge in purchase price has quickly stopped.

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

In this case, the prices seem to be telling a more meaningful story than the underlying data.  The HSI still looks good!  But the transactions are falling - reaching lower higher, and lower lows, each year for 3 years.  That is what demand softening looks like. 

What should potential home buyers do in Westborough?

Home buyers should recognize that things are still good for sellers - under-priced homes will sell quickly - but there is no need to chase overpriced homes - they are unlikely to sell quickly.  Most buyers in Westborough are demanding discounts for homes that need work, and sellers are cutting prices to meet their expectations. 

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What should future home sellers do in Westborough?

Home sellers need to do their very best to price right and get the home ready.  Failure to do so could mean a 2-4 month sale cycle - not 1-2 weeks - like it has been for several years.

Westborough Homes For Sale and Sold Market Statistics - MLS Data

  • The Westborough “Home Seller Index” (HSI): 140 Last Report: 169
  • There are 45 homes currently listed as For Sale by Home Sellers.
  • In Westborough there have been 92 houses sold in the last 6 months, and 71 homes sold in the last 3 months.
  • The Average number of Days on Market (DOM) was 64 days for the last 6 months of SOLD homes In Westborough.
  • Homes for sale have been looking for buyers for an average of 51 days (the homes currently for sale).
  • The amount that was paid by Home buyers in Dollars per Sq. Ft. averaged $226 (vs. $230 in the last report)
  • Current home sellers are looking for $240/sq foot
  • There was an Average Sold Price of $547,007.
  • Westborough, 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!.

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