Southboro Massachusetts Real Estate Market Report for March 2009
In March of 2009 there were 4 homes that closed within the month for Southboro Massachusetts. This is a decrease of 3 units, as there were 7 homes that closed in March of 2008.
The Average list price for the homes that closed in Southboro for March of 2008 was $763,214
The Average list price for the homes that closed in Southboro for March 2009 was $342,175
The Average sale price for the homes that closed in Southboro for March of 2008 was $726,343
The Average sale price for the homes that closed in Southboro for March of 2009 was $323,000
The Average Market time for the homes that closed in Southboro in March of 2008 was 153 days.
The Average Market time for the homes that closed in Southboro March of 2009 was 175 days.
8 homes went under agreement in Southboro MA in the month of March. The average list price of the homes that went under agreement was $372,950. The average time on the market for these Southboro homes were 163 days.
January - December 2008 Market Statistics for Southboro MA
In Southboro MA for the period of January to December 2007 there were 88 properties sold.
In Southboro MA for the period of January to December 2008 there were 65 properties sold.
In Southboro MA for the period of January to December in 2007 the average list price was $617,149 the average sale price was $591,417 and the average market time was 158 days.
In Southboro MA for the period of January to December in 2008 the average list price was $621,602 the average sale price was $589,084 and the average time on the market was 142 days.
** The above statistics are for single family homes only and do not include condo's or Multi-family homes in Southboro MA.
In comparing year over year longer term data for Southboro Massachusetts through December, there have been less homes sold. The average sale price was very stable as there were more higher end properties that closed which kept the average up. The average days on the market has declined in Southboro Massachusetts.
These statistics are similar to many of the towns in Metrowest MA and represent the on going weakness in the market as compared to previous years. What must be stressed, however, is that these home figures still represent a healthy amount of sales.
Click here for previous Southboro Real Estate Market Reports.
Selling a home in Southboro Massachusetts or other Metrowest town is heavily dependant on pricing your home properly and picking an agent that will create an "online market presence" for your home. As a home seller, you need to be aware that the market in Southboro and many other Metrowest communities has changed over the last three and a half years. We are no longer in a seller's market. When selling a home in Southboro Massachusetts, it pays to have a pro in your corner representing you.
** 85% of all buyers are finding their homes on the Internet. See where I advertise on-line to give my clients on dominant internet presence at Metrowest MA Homes ~ How to effectively market to the masses on-line. **
We are no longer in a seller's market. When selling a home in Southboro MA, it pays to have a pro in your corner representing you. Here are some excellent Real Estate questions to ask when interviewing your agent, that will help you determine if you are hiring a top producer or not!
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About the author: The above Southboro Massachusetts Real Estate report was provided by Bill Gassett, a
Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Southboro MA and other Metrowest towns for the last 23+ Years.
For Massachusetts and Southboro MA Real Estate and homes see Southboro Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.
Thinking of selling your home? I Have a passion for Real Estate and would love to have you as one of my clients!
I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northboro, Northbridge, Uxbridge, Douglas, and Framingham MA.
Click here to view Bill Gassett's Real Estate profile.
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Building lasting relationships by helping people move in and out of Metrowest Massachusetts for the last 23 years.
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Nationally recognized Realtor - Specializing in marketing homes & Real Estate in Metrowest Massachusetts. Based in Hopkinton, MA 01748 Have been one of top 5 RE/MAX Teams in MA for the last 9 years.
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Bill,
Am I reading this correctly, the average sale price for the month of March has dropped by about 50% from 2008? Is there any end in sight for the downward move and is this what all of MA. is going thru?
Bill,
I'm seeing similar stats in my areas...sales have gone up but prices are still falling...hopefully the ones really in need to sell will see this.
Bill - You have great market reports. I guess the encouraging aspect is the volume of activity as the volume increases the chance for stabilization and the inevitable rebound.
Bill- great info as always - I am learning a ton following your blog- thanks!
Bill - What a dose of reality! We have friends in Florida who are facing a selling price 1/2 of what their home was valued at a year ago (2008). Problem is the values a year ago were higher than they should have been. The current value in 2009 that they consider 'so low' is still quite a lot higher than what they have in the home but in their minds, it is worth the elevated 2008 price. Although prices have come down drastically in many areas, there was a 'false' high to begin with. That further complicates an already complicated issue. Great market report!
Mary
Don - What you are looking at is a bit deceiving. You are only looking at one months of stats for the average list and sales prices of the homes that have sold. It just so happens that last year there were a few high end homes that sold and this year it is more of the 1st time buyer properties that have gone under agreement. The Real Estate market has not dropped by 50% in Southboro. In fact Southboro has been an excellent town for holding it's value. If you look at the bottom of the post you will see a more accurate gauge of the market by looking at the year over year figures. The average sales price did not drop by that much.
Neal, Chris, Randal & Mary - Thanks for your comments andf compliments on my Southboro Mass Real Estate report.
Bill, Good information for consumers. I know the average sales price can be deceiving. Nice report.
Gita - Thanks. You are correct about the average sales prices being deceiving. In order for it to be meaningful you need to look at the long term trend.