Upton, MA December 08 Market Report

In my continuing efforts to keep my customers educated on the current market conditions, I have compiled some statistics for you on recent home sale trends and a comparison to previous years.

Town of Upton, MA

December 08 Market Statistics

Area:	Upton, MA
Property Type	Single Family

Month/Year	Average Sale Price	Average Days on Market	Total Homes Sold
Dec2007	$322000	104	3
Dec2008	$477000	161	4
Difference	$155000	+57	1
% Change	+48.1%	+54.8%	+33.3%
	Yearly	Statistics
All 2007	398666	171	69
All 2008	417822	126	42
Difference	+19156	-45	-27
%Change	+4.8%	-26.3%	-39.1%

This information is obtained from the Multiple Listing Service (MLS) in the state of Massachusetts.

Based on the Month comparison information above, it could be considered a Sellers market.

• The number of homes sold has increased from last year at this time.
• The average selling price has significantly increased from last year, although it is based only on 1 sold property.
• The average DOM (days on market) has significantly increased from last year.

Looking at all three indicators: the Average Sale Price, Total Homes sold showing increases, along with Days on Market showing an decrease they show that the market is strong over this period from December of last year.

Please remember that the sampling size is small, only comparing the month of December 08 to December 07. The sampling size is small and with a small sampling size it does not accurately describe the overall market in Upton.

Based on the Yearly comparison information above, it could also be considered a Neutral market.

• The number of homes sold has significantly decreased from last year at this time, by quite a significant margin of almost 40% .
• The average selling price has significantly increased from last year by a modest, but surprising 4.8%.
• The average DOM (days on market) has decreased quite a bit from last year.

Again, looking at all three indicators: Total Homes sold showing a significant decrease, a small but surprising increase in homes sales, along with Days on Market showing a large decrease. They show that the market is neutral with no advantage to buyer or seller this period. This is a more significant period as it covers the full year and the sampling size is representative of what is truly happening in the Market for Upton.

For more info on the town of Upton click here

For foreclosure info on Upton click here

For info on properties for sale in Upton click here

Real estate trends can vary greatly from town to town and region to region. If you are considering some other areas and would like market statistics for those areas, please contact me by clicking here

I hope that this information is useful to you. Please let me know if you would like any additional information or to begin a home search click here. I am always available to assist you.

• Michael Prescott, Real Estate Pro
• RE/MAX Innovations
• Serving Blackstone Valley and Worcester Counties
• Toll Free 877-266-9747 ext 281
• mprescott@relocationma.com