The Framingham Homes For Sale Market Report

 

Before we look at the chart, let me give you a good reason to subscribe to this blog to stay informed. I don't just report the numbers, I analyze them, to let you know where things are headed. In the last report, (linked here) I said, "I'll be shocked if (the Hot Seller Index) doesn't shoot well above 100 (in the next report)." It's at 114 in this report, and that is why you should read. If you were thinking about entering the market - you should have!!

 

OK, enough of that. Let's take a look at the historical data chart for Framingham.

 

 

 

I've only been "charting" the data I've collected back 18 months, and the Framingham market has been good that whole time, so that's what we see here. This spring though, has seen a lot more buyers than last year, and these numbers really set the stage for price increases. We're not seeing any from last year though, $/sq foot is essentially flat over the last 12 months. With this crazy demand, one must ask: Why? I'm not sure why a market needs to "stay hot" for a while before we see sustained price increases, but this is a common trend. When the increases happen, they happen fast (like 5% in a month), so as a buyer, it can be very easy to get "priced out" of the market and "chase it up". I think prices are - sneakily - on the rise in Framingham, but what is happening is the distressed inventory, the properties that need the most work, are finally selling at their (typically) discounted prices, and that is keeping the $/sq foot low.

 

Matt, you say, do you have any evidence to back up that nonsense you just wrote? I do, in fact. Look at the number of foreclosures in Framingham on the market. ZERO. That's not an error, not a mistake, there are no foreclosures in Framingham. Most foreclosures have a host of problems, and if they are selling, well, things are improving for seller in Framingham, that I can tell you. Look for a bump in $/sq foot in the next report, with the foreclosures moving out of the number, I expect to see evidence of price pressures next time.  Buyers, don't take the summer and fall off if Framingham is where you want to be.  Be aggressive and buy while other buyers are on vacation - if you can find anything.

 

 

Framingham, MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

 

  • There are 165 homes (vs. 174 in the last Framingham Homes for Sale Report) listed as For Sale.
  • There have been 307 houses sold in the last 6 months, and 221 homes sold in the last 3 months.
  • There was an Average Market Time of 101 days for just SOLD homes.
  • There is an Average Market Time of 129 days of the homes For Sale.
  • The Dollars paid per Square Foot in Framingham, MA is $174 (vs. $171 )
  • There was an Average Sold Price of $322,087 for sold homes.
  • Framingham, MA has 0 properties (vs. 6) advertised as lender owned/foreclosure (typically foreclosure) .
  • Framingham, MA has 19 properties (vs. 19) advertised as a shortsale is going to be needed by lender .
  • Framingham, MA “Hot Seller Index” (HSI): 114 Last Report: 94

 

 

Find Your Next Home or Check out the Competition! 

 

 

*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.