Northbridge Housing Market Statistics Overview
Here we see the effect of new construction saturating the market in particular price range. As the new construction stays on, market time for the town moves up. But the days sold of is a better number to look at - it shows the other price ranges are actually selling quite well, as 120 days of market time suggests a neutral market. Active properties are down, but that is likely seasonal. We're not seeing any pickup in sales - but no real softening either - so the spring numbers may start to improve the overall market averages.
In closing, if you're looking for new construction, you probably have some good choices, and some leverage - if you know how to use it. More popular properties outside of the new construction price point are more popular. Average sales prices are down, suggesting the top end is scuffling. I didn't look close in this report, but buyers will likely have more luck in the higher ranges.
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Lender owned properties have shown up, but short-sales are steady at 10. That's still a lot of pressure on inventory with lender impacted properties over 20% of the market. Makes it harder to find properties sellers are still caring much about!
Northbridge Housing Market Statistics - Raw MLS Data
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Sellers may find more home buyers under the tree than they thought. |
- There are 81 homes listed (vs. 96 in the last Northbridge Home Sales Report) as For Sale.
- There have been 54 houses sold in the last 6 months, and 30 homes sold in the last 3 months.
- There was an Average Market Time of 120 days (vs. 185) for just SOLD homes.
- There is an Average Market Time of 256 days (vs. 218) of the homes For Sale.
- The Dollars paid per Square Foot in Northbridge is $147
- There was an Average Sold Price of $241,848 for sold homes.
- Northbridge has 5 properties advertised (vs. 2) as lender owned (typically foreclosure).
- Northbridge has 10 properties advertised (vs. 10) as short sales required by lender.
- Northbridge “Hot Seller Index”: 67 Last Report: 61
*All statistics are for Single Family Houses and based on data in MLS.
Read my Explanation for Massachusetts Home Data Reports.
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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.
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*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.
