Overview of the Northbridge, MA Housing Market

Well, it looks like not all Home Sellers of Metrowest are enjoying 2012. Northbridge continues to suffer under the weight of the new construction that is creating supply the buyers can't seem to eat through. Homes for Sale increase another 9 homes for this period, while sales are stagnating around the low fifties for two reports in a row. That imbalance creates a drag on prices, and we see $/sq foot falling sharply. Market time is up in both categories over the Metrowest average, showing that sales are slow. Buyers should have some good choices in Northbridge, and the falling prices will likely rebound when the new construction developments finish selling,

 

 

At least the bank-owned inventory is getting better. Foreclosures are steady, and short sales are down, showing some improvement in this area, which will help when inventory (the homes for sale) tightens up.

 

Northbridge, MA Real Estate For Sale and Sold Market Statistics - Raw MLS Data

 

 

Home Sellers are Waiting for Buyers in Northbridge

 

• There are 93 homes (Vs. 84 in the last Northbridge Home Sales Report) listed as For Sale.
• There have been 51 houses sold in the last 6 months, and 32 homes sold (Vs 26) in the last 3 months.
• There was an Average Market Time of 148 days for just SOLD homes.
• There is an Average Market Time of 226 days of the homes For Sale.
• The Dollars paid per Square Foot in Northbridge is $140 (vs.$147 )
• There was an Average Sold Price of $281,762 for sold homes.
• Northbridge has 3 properties (vs. 3) advertised as lender owned/foreclosure (typically foreclosure) .
• Northbridge has 6 properties (vs. 8) advertised as a shortsale is going to be needed by lender .
• Northbridge “Hot Seller Index” (HSI): 64 Last Report: 67

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

Our Most Requested Posts

• How do I get the seller to pay my closing costs, and is it free money?
• What do I need to know about Heat Pumps? Will they save me money?
• Will Solar Panels add Value to my Home and build Equity?
• Is it a bad idea to buy a house near power lines? Is it safe to buy a house near high tension powerlines?
• What is the Case-Schiller Index?
• Investors can make money on foreclosures - can you?
• Should I buy a home with electric heat? How much will my heating bill be with electric heat?

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.

Do Good Things Today! Matt Heisler

*All information is posted in good faith and is assumed to be reliable, but may rely on third party information sources.