Homes For Sale in Hopkinton Market Report

Hopkinton comes in with a real surprise report.

 

Not surprisingly, the HSI fell. HSI's above 130 are really hard to sustain. It's still really strong at 112, but things look a little weaker. So then we have to ask, "why?"

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

Well, quite frankly, it's because prices are up. Sharply.

 

Prices jumped to $217/ sq foot, from $208, almost a 4.5% rise, from January. That's despite the fact that the average home sold actually dropped in price almost $50K. That's not so long ago, and when you look at how far Hopkinton has come, it's pretty amazing. Having said that, these higher prices will certainly ease the pressure on buyers from a time standpoint - it should slow things down - but so far it hasn't, with the average sold market time at a blistering 87 Days.

What should home buyers do in Hopkinton?

Home buyers should be cautious. Unlike Natick, which has seen prices rises but not so fast as Hopkinton, prices are really moving in Hopkinton, and not in other towns. That means other towns could offer better options for you money, with less risk to boot. Hopkinton has vaulted to the fourth most expensive town, meaning that Southborough, Westborough and Northborough are going to look like relatively bargains - with little increase in commute (Southborough would actually be less).

Find Your Next Home or Check out the Competition!

We've had a number of reports that have demonstrated the market softening, but this is the first indication that perhaps this spring won't be soft after all. Is Hopkinton the precursor to some strong charts ahead? We will see.

 

What should home sellers do in Hopkinton?

Get listed! Ask for top dollar! It looks like buyers are willing to pay it. Prices are up 20% since Feb 2012 - just over 2 years - and it's a great time to take advantage of that.

 

 

Hopkinton Recent Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Hopkinton‘s “Home Seller Index” (HSI):112 Last Report: 141
  • There are 60 homes listed as For Sale.
  • There have been 111 houses sold in the last 6 months, and 68 homes sold in the last 3 months in 

    Hopkinton continues to see prices rises, despite

    less indications of price pressures in other towns.
    Hopkinton.
  • The Average number of Days on Market was 86 days for just SOLD homes.
  • There is an Average Market Time of 151 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $217 (vs. $208 )
  • There was an Average Sold Price of $498,336 for sold homes.
  • Hopkinton, MA, has 1 properties (vs. 1) advertised as lender owned or foreclosure (typically foreclosure) .
  • Hopkinton has 0 properties (vs. 3) advertised as a short-sale is going to be needed by lender.

 

 

 

*All statistics are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary. (That means you won’t find it anywhere else. Take that, Case-Schilling!).

 

 

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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.

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.