Northbridge, MA - Home Sales Data (May)

Northbridge, Massachusetts:

Jumping out of the data in this report is the almost two to one Active to Sales Ratio.  A jump in inventory has not been met, as it has in other towns, with a huge jump in sales, and the number of active flagged properties is quite small.  As we noted last year at this time, the outer edge of the Worcester suburbs can be early indicators of market weakness, as the Eastern edge can be indicators for strength.  Regardless, sellers in Northbridge should be pricing aggressively to get their homes sold.  The current average on market time is just 186 days, but that market time is going to grow quite quickly without some sales in the next couple of months.  Buyers: take note of Northbridge!  There are deals to be had.

 

Shadow Inventory update: No significant increase in the so-called shadow inventory.  In fact, there's a pretty small number of lender impacted property in Northbridge.  It's 10% of the inventory, but it was in the last report as well.

 

 

Housing Market Statistics

Lots of Inventory for Buyers to Look at In Northbridge

• Northbridge has 92  homes (vs. 68 in the last Northbridge Home Sales Report) listed as Active.
• Northbridge had 53  houses (vs. 45) sold in the last 6 months, and 27  homes (vs. 24) sold in the last 3 months.
• Northbridge has an Average Market Time of 237 days (vs. 154) for SOLD  homes.
• Northbridge has an Average Market Time of 186 days (vs. 282) for ACTIVE homes.
• Northbridge has an Average Sold Price of $279,616 for sold homes.
• Northbridge has 5 properties (vs. 3) advertised as lender owned (typically foreclosure) .
• Northbridge has 6 properties (vs. 3) advertised as short sales required by lender .
• “Hot Seller Index”: 59   

 

 

*All statistics are for Single Family Homes.

 

Wondering about my Market Methodology?  Read  my Explanation for Massachusetts Home Statistics. 

 

 

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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.