Analysis of Northbridge Housing Market Statistics
Northbridge has improved, but there's still a great deal of new construction on the market that will keep a lid on prices. About 40% of the advertised market is new homes, but we see a lot of strength in the existing sales. Just don't have enough absorption yet of the new inventory.
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Northbridge is tighter than it looks - don't be fooled! |
If you're looking for new construction, Northbridge has plenty, unlike many other towns followed on this blog. If you're looking for a re-sale, be aware that the market for buyers is much tighter - with just 148 days on market for most actives, it's much more competitive. The market looks to tighten further, with a number of pending sales that will show up in the next report.
Northbridge Housing Market Statistics - Raw Data
- There are 96 homes (vs. 92 in the last Northbridge Home Sales Report) listed as For Sale.
- There have been 61 houses sold (vs 53) in the last 6 months, and 33 homes (vs. 27) sold in the last 3 months.
- There was an Average Market Time of 185 days for just SOLD homes.
- There is an Average Market Time of 218 days (vs. 237) of the homes For Sale.
- There was an Average Sold Price of $293,325 for sold homes.
- Northbridge has 2 properties advertised as lender owned (typically foreclosure) .
- Northbridge has 10 properties advertised as short sales required by lender .
- Northbridge “Hot Seller Index”:61 Last Report: 59
*All statistics are for Single Family Homes.
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.
