Hopkinton Housing Market Statistics Overview
Well, when we look at the index in Hopkinton, we see that it didn't move. So that's easy, right? No changes in Hopkinton. But when we look at the data, we some some bigger differences. First off, the number of homes for sale has dropped from 103 to 89. And the six month sales are posting a big 115 number. So why the drop? Well the drop is because the momentum of the market has slowed - the 3 month sales numbers have dropped from 79 to just 56. Ah-ha! So the market is finally cooling off in Hopkinton. Actually, it's not. The drop in sales figures are because there's very little left to buy. There are plenty of very picky buyers, but what they don't like, they aren't buying unless it's quite cheap. How do I know this?
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Take a look at the Average Time on Market for solds - just 93 days. That's a number that is dropping from the August numbers in the last report. To have a fall market continue to push the time on market down is pretty unusual, and it just shows you that the right houses are getting enormous attention in Hopkinton.
There is a limit though, the average home for sale in Hopkinton is almost $200,000 above the average sales price, showing the luxury market is crowded. If we look at this sub market, we see that above 800K, there are 22 houses (30% of the market) with a average on market time of 220 days, over twice the market average of 105 days for homes under 800K. Some of that market is muddled by the new construction on Cobbler's Way, but still, you probably don't want to be above $1M in Hopkinton right now, unless you're pricing in a discount. Lots of competition, few buyers.
Under that number though, I'm seeing some over-eager activity by buyers, who are snapping up whatever comes on, and pushing prices up. Hopkinton is nowhere near as cheap as it was just 18 months ago.
Hopkinton Housing Market Statistics - Raw MLS Data
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Market is not still in Hopkinton, it's Good for Sellers, and Tough on Buyers |
- There are 89 homes (vs. 103 in the last Hopkinton Home Sales Report) listed as For Sale.
- There have been 115 houses sold (vs. 96) in the last 6 months, and 56 homes sold (vs. 79) in the last 3 months.
- There was an Average Market Time of 93 days (vs. 101) for just SOLD homes.
- There is an Average Market Time of 139 days of the homes For Sale.
- There was an Average Sold Price of $534,911 for sold homes.
- Hopkinton has 1 properties (vs. 1) advertised as lender owned (typically foreclosure) .
- Hopkinton has 1 properties (vs. 3) advertised as short sales required by lender .
- Hopkinton “Hot Seller Index”: 93 Last Report: 93
*All statistics are for Single Family Homes and based on MLS data.
Read my Explanation for Massachusetts Home Data Reports.
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Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. 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.
