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Some of the data is good, some not so good. Buyers should take a look for values in Northborough |
- Northborough has 71 (vs. 54 in the last Northborough Home Sale Report) homes listed as Active.
- Northborough had 51 houses (vs. 49) sold in the last 6 months, and 23 homes (vs. 20) sold in the last 3 months.
- Northborough has an Average Market Time of 172 days (vs. 155) for SOLD homes.
- Northborough has an Average Market Time of 130 days for ACTIVE homes.
- Northborough has an Average Sold Price of $ 378,294 for sold homes.
- Northborough has 2 properties advertised as lender owned (typically foreclosure) .
- Northborough has 3 properties advertised as short sales required by lender .
Question about the terms used here? Check my Explanation for Massachusetts Home Statistics. All statistics are for Single Family Homes.
Analysis of Housing Market Statistics
Northborough , Massachusetts: Not much to note with with the foreclosure and short-sale numbers, there doesn't seem to be much pressure there, but it is up - there were no foreclosures in the last report, and the short sales are up as well. In fact, inventory numbers are up quite sharply. For all that, this looks like a sideways move to me. Momentum is up, which is good for sellers, active market time is down which is also good. But the actives to solds ratio is further out of line, and they aren't exactly flying off the shelves in Northborough - sellers are having to wait around, as only five houses sold in the first month. I do see that several properties marketed for years (over 800 days) have sold, so when those move out we'll see healthier numbers, and the fact that those homes have sold is actually good news - demand may be growing.
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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.
