Homes For Sale in Framingham Market Report

 

Well, those who have been following Framingham know that it has been on an absolute tear. I noted in the last post, that I didn't think I would see a 189 on the HSI again. Prices in Framingham were soaring, and it just didn't make sense that things would continue.

 

But real estate markets don't have to make sense.

 

That's why Framingham became even more buyer hungry, as lack of available houses and the ability to do sound comparisons is making home just fly off the shelves. But don't take my word for it, let's look at the chart:

Home Sale Activity in Framingham is at a high for

my tracking on the blog, smashing through the last

reports record high.

 

 

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

So, yes, that is a new record for the HSI, 218. That's driven primarily by the sales vs. actives ratio, which is almost 5 to 1. To put the 475 sales that Framingham has seen in the last month in some sort of context, that's more than the entire of city of Worcester recorded here on the blog 2011. And it's not far off Worcester's current sales pace. Framingham is a big town, has a lot of houses, but it's not Worcester. Not even close.

 

What does this mean for prospective house hunters? It means that you should be aware that Framingham is beyond Frothy at this point. Prices have jumped 13% since February - of this year!! There are certainly other towns in the area that start to look pretty compelling at those prices, so I would definitely suggest looking around some of the other towns. Where is hard to suggest, because I don't know your criteria, but trust me - look around! If you are a potential home seller - I'll repeat what I said last time - get your house ready for the market!! I don't think there has ever been a better time (well, technically, you may have missed it already, but it's still very, very hot).

 

 

Framingham Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Framingham “Home Seller Index” (HSI):218 Last Report: 189
  • There are 96 homes listed as For Sale in Framingham.
  • There have been 475 houses sold in the last 6 months, and 291 homes sold in the last 3 months.

    Fall is here!  Get your leaf blowers ready!
  • The Average number of Days on Market was 54 days for just SOLD homes.
  • There is an Average Market Time of 101 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $198 (vs. $185 )
  • There was an Average Sold Price of $372,379 for sold homes.
  • Framingham ,MA, has 1 properties (vs 3) advertised as lender owned/foreclosure (typically foreclosure) .
  • Framingham has 4 properties (vs. 4) advertised as a short-sale is going to be needed by lender .

 

Find Your Next Home or Check out the Competition!

 

*All statistics are for Single Family Houses and based on data in MLS. Note, there will be a some what artificial jump in the rankings as the active status flag is being phased out. (this is a good thing, but will screw up my data sets).

 

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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.