Landlords Need to Know the Security Deposit Statute

Did you know?  The Security Deposit Statute in Massachusetts isn't just complicated - it has major teeth for the unwary landlord. 

It is SO complicated, that I must highlight the following:

This is -- NOT LEGAL ADVICE -- and I am not an attorney.  This is an overview only, of the types of things most landlords should be aware of when collecting a security deposit.  All landlords are encouraged to seek *Actual* advice from a Massachusetts Attorney if they have questions, or wish to develop their own policies for the handling of these funds that are in full compliance of the law.  

Why Landlords Need to Know the Statute

The primary reason for Landlords to know the statute is because if a tenant sues them for a violation - and there is a violation - the tenant can win 3x damages and attorney fees.  What makes this so troubling is that there are precedents that establish the judge has no discretion in the award, and the tenant doesn't have to prove harm, just a violation. And like many laws, ignorance is not an excuse.  Despite it's complication, landlords are on the hook for understanding the whole law. For this reason alone, keep good relations with your tenants, and stay out of court.

 

Key Provisions of the Security Law for Landlords and Tenants

Let's get the easy ones out of the way.

• You don't have to collect security.  It's not required, but it's a good idea in my opinion, despite the hassles and risks.  If you don't collect it, you don't have to comply with the rest of the provisions.
• Security can't be more than 1 months rent.  That's it, and not a penny more.  No exceptions for pets, smokers or other things you can think of.
• Must be held in an interest bearing account in a Massachusetts Bank.  Yes, it must be a local bank!  Putting the funds in your internet bank may be a violation right there.

Those are the easy ones.  Now the harder ones....

• You must have a condition statement and it should be signed by the tenant.  This must be done 15 days after occupancy, but can be done before occupancy (and ideally is).  There are a lot of restrictions on the condition statement itself, so read up on it!
• You must pay the tenant interest on the security deposit
• You must, within 30 days of the tenancy ending, refund the security, and you can only keep security funds for unpaid water and sewer, taxes (if they are liable), unpaid rent, and damage - reasonable damage.

It's is best if you have receipts for the damage repair.  

Ugh, there are other things that you also need to do for security deposits.  These include little things, like making sure the tenant has a receipt that he paid it, and keeping track of when it was collected.  They include bigger things as well, like making sure all the deductions to the security deposit are itemized and sent to the tenant.  

 

Bottom line: Know the law, and follow it!  It's a complicated thing, but it offers good protection against damage, early termination, and non-payment, and for those reasons, it's worth the risk (It also helps identify tenants who are short on cash, at application time).

 

 

The Milford Homes For Sale Market Report

Home Sellers in Milford continue to benefit from the hot market, where homes are selling like hotcakes and prices are rising. They've cooled off a bit but continue near the top. Sellers are sticking near where the buyers want to be.

Can’t see the chart? You can find it Here .

What should potential home buyers do in Milford ?

Home buyers will find slim pickings at the moment.  Hopefully, things will loosen up a bit, but don't count on it.  Buyers like the prices, and until seller's start over reaching, things are going to stay tight.  

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in Milford!
• Show Me Milford, MA Homes for Sale
• Is this an OLD report? Get Updated Info.
• Reach me to be your Milford MA Realtor

What should future home sellers do in Milford ?

Home sellers will find an eager audience.  All homes now can be sold, whether they need work or not, but if you want the most for your listing, get it fixed up right!

Milford Homes For Sale and Sold Market Statistics - MLS Data

• The Milford “Home Seller Index” (HSI): 268 Last Report:286
• There are 28 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 164 houses sold, and 88 homes sold in the last 3 months in Milford.
• The Average number of Days on Market was 35 days for recently SOLD homes.
• There is an Average Market Time of 76 days of the Milford homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $166 (vs. $165 in the last report)
• Current home sellers are looking for 169/sq foot
• There was an Average Sold Price of $324,284.
• Milford , MA, has 2 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 4 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

The Sutton Homes For Sale Market Report

Home sellers have moved their prices down to the buyers levels, but the buyers also have moved up to meet the sellers.  With little inventory, and a common based for prices, I'd expect a great spring in Sutton.  

Can’t see the chart? You can find it Here .

Note below how the HSI is moving up.  Property is moving faster, and inventory is drying up.  That's a formula for price increases, and I'd expect we'd see Sutton reach new highs this spring.  Most of the Worcester suburbs are still playing catchup, so this fits with that thesis.

 

What should potential home buyers do in Sutton ?

Home buyers should be prepared to move quickly. The good stuff isn't sitting around, and it'll move even faster this spring.  

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in SUTTON!
• Show Me Sutton, MA Homes for Sale
• Is this an Old Report? See them All!
• Reach me to be your SUTTON MA Realtor

What should future home sellers do in Sutton ?

Home sellers should be very informed of their market segment.  Certain price ranges don't have any competition, and a well positioned house will draw multiple offers.  With an average market time of just 48 days, Sutton is on doing very well.  Don't be afraid to reach for a new price if your segment is thin - you'll probably get it.

Sutton Homes For Sale and Sold Market Statistics - MLS Data

• The Sutton “Home Seller Index” (HSI): 167 Last Report: 107
• There are 24 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 75 houses sold, and 30 homes sold in the last 3 months in Sutton.
• The Average number of Days on Market was 48 days for recently SOLD homes.
• There is an Average Market Time of 68 days of the Sutton homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $177 (vs. $169 in the last report)
• Current home sellers are looking for $179 /sq foot
• There was an Average Sold Price of $384,544 .
• Sutton , MA, has 4 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

The Sudbury Homes For Sale Market Report

As the average home sale in Sudbury approaches 800K, we are seeing some resistance building to further price increases.  Buyers look to be hitting their limits in this cycle, as the prices paid - and the prices being asked - have moved very much since the begining of 2015 - almost two years.  

Some of the Sudbury buyers have clearly gone to Natick, but with prices in Natick where they are, I'm not sure that's logical.  We will see! the market makes it's own logic. 

Can’t see the chart? You can find it Here .

 

 A more detailed look at the market shows inventory near the lows - but not at them - and the HSI shows the strongest demand in this cycle.  Homes are selling quickly, if they get to the right price ranges, but the luxury market is getting softer, distorting some of the metrics. 

 

What should potential home buyers do in Sudbury ?

If you're a sub 600 buyer, don't expect to get very much and expect the competition to be fierce when something is available.  If you're a 1M+ buyer, the market is more rational, and there are more options.  There are likely luxury re-hab opportunities for the creative, as Sudbury has a number of older luxury properties that could do with some upgrades. 

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in SUDBURY!
• Show Me Sudbury, MA Homes for Sale
• Is this an Old Report? Get Updated and Click Here
• Reach me to be your SUDBURY MA Realtor

What should future home sellers do in Sudbury ?

Don't confuse softening with soft - the market is quite competitive at all levels.  You'll get your looks!  However, be aware of your market segment.  Some have no competition, and others are very competitive.  Reaching in a competitive space is usually a mistake!  So know the competitive back drop.

Sudbury Homes For Sale and Sold Market Statistics - MLS Data

• The Sudbury “Home Seller Index” (HSI): 191 Last Report: 166
• There are 50 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 196 houses sold, and 96 homes sold in the last 3 months in Sudbury.
• The Average number of Days on Market was 46 days for recently SOLD homes.
• There is an Average Market Time of 193 days of the Sudbury homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $253 ( $247 vs. in the last report)
• Current home sellers are looking for $ 271 /sq foot
• There was an Average Sold Price of $787,099 .
• Sudbury , MA, has X properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

 

The Medfield Homes For Sale Market Report

The Medfield market has cooled off -slightly- but the building inventory and slowing sales has a lot to do with buyer's reluctance to push prices higher.  Seller's meanwhile are asking well above market.  

Can’t see the chart? You can find it Here .

What should potential home buyers do in Medfield?

Ugh.  Most homes are way above where they should be - which is why many are not buying them.  Know what HAS sold.  The current crop of homes are largely overpriced, and will confuse your brain as to where the recent price-level is.  Most buyers are looking at multiple towns, but for those only looking in Medfield, you could get confused.  With average sales at $265 - and asking prices at $331 - there's a big gap between what buyers will pay, and what sellers want.  Don't count on your appraiser to fix the the problem!  That's always a mess, even if they catch it.

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in Medfield!
• Is this an old report? Get Updated!
• Show Me Medfield, MA Homes for Sale
• Reach me to be your Medfield MA Realtor

What should future home sellers do in Medfield?

Home sellers have a chance to thread the needle.  Ask a lot vs. past sales, but less than the current homes.  Some buyers may percieve your home as a relative value - and pay top dollar.  It's a tricky wicket, but this is the setup to try it.  

Medfield Homes For Sale and Sold Market Statistics - MLS Data

• The Medfield “Home Seller Index” (HSI): 203 Last Report: 229
• There are 30 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 121 houses sold, and 47  homes sold in the last 3 months in Medfield.
• The Average number of Days on Market was 39 days for recently SOLD homes.
• There is an Average Market Time of 81 days of the Medfield homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $265 ( $266 vs. in the last report)
• Current home sellers are looking for $331 /sq foot
• There was an Average Sold Price of $718,608.
• Medfield, MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 1 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

How the Prices Moved in 2016 across Metrowest

 

Those who follow the blog know I update a periodic segment of how prices have changed across the area.   (Want to see the history?  Here's where I keep them: )

 

Anyway, here's the latest data:

Housing in Natick costs a little more than twice what it costs in Charlton and Worcester.    That's a lot, but the ratio has stayed about the same since we started tracking. You would think, however, that the ratio wouldn't be what stays the same, but the differential in raw dollars would be the same.  In 2012, for example, Natick was $115 dollars per square foot more expensive.  But now it's $150!  That' doesn't seem rational to me, and I wonder if that means Natick will slow down, and Worcester will catch up.  If that's what happens, there's going to be a whole new element to my data efforts, one that have big impacts for market predictions.

I think it's interesting the Shrewsbury is so close to Westborough, Southborough and Hopkinton - since it's considerably further west - and I wonder if that will continue.  Shrewsbury had a great run this year.  Southborough seems low - and due for run.  In the original graphs it was comfortably top 4, but is now in the mix between 4-9.  The gap between Natick and Sudbury seems awfully big - hard to think it will stay that way indefinitely, but we will see.

 

The Marlborough Homes For Sale Market Report

Marlborough is riding a wave of home price improvements, as the market continues to tighten.  We're seeing a lot of late bloomers in this market, which I think shows that the economic recovery is in full swing, and also that Millenials are looking to housing for security against rental increases.  A little late to the party, but still time to have some upside!

Can’t see the chart? You can find it Here .

Nothing confusing about this price graph!  Up and to the right as they say....

 

What should potential home buyers do in Marlborough?

Marlborough is at a five year low in inventory - the toughest market in a LONG time.  Buyers, here and everwhere, should be town flexible, and move quick on homes in neighborhoods that look fairly priced (if a neighborhood home is your preference).  

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in Marlborough!
• Show Me Marlborough, MA Homes for Sale
• Is this an Old Report? Get the latest!
• Reach me to be your Marlborough MA Realtor

What should future home sellers do in Marlborough?

Home Sellers should recognize the market is very favorable and well positioned homes are moving fast.  Homes that show well and are in good condition are often getting multiple bids and are sold in a week.  Aggressively priced fixer-uppers are also moving quickly.  With inventories at multi-year lows, there doesn't look to be any break in the trend soon!

Marlborough Homes For Sale and Sold Market Statistics - MLS Data

• The Marlborough “Home Seller Index” (HSI):280 Last Report: 240
• There are 38 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 231 houses sold, and 126 homes sold in the last 3 months in Marlborough.
• The Average number of Days on Market was 32 days for recently SOLD homes.
• There is an Average Market Time of 107 days of the Marlborough homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $190 (vs. $189 in the last report)
• Current home sellers are looking for $209 /sq foot
• There was an Average Sold Price of $357,803 .
• Marlborough , MA, has 3 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

The Hudson Homes For Sale Market Report

Buyers continue to push prices sharply higher in Hudson, as prices break the $200/sq foot mark.  Already though, there is some sign of a small pull back.  Buyers shouldn't get too excited though, as the low inventory levels suggest this pull back is going to be short lived.

Can’t see the chart? You can find it Here .

What should potential home buyers do in Hudson ?

There is little inventory, and what is out there is probably not so great, so buyers should probably try to keep multiple towns on their list, or be patient, or both.  Currently Hudson has only 18 houses for sale, an absurdly low number, which will keep pressure on the market.  There's no foreclosures or short-sales, showing that there is little bank impacted inventory to coming on either.

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in Hudson!
• Show Me Hudson, MA Homes for Sale
• Is this an Old Report? Get the latest!
• Reach me to be your Hudson MA Realtor

What should future home sellers do in Hudson ?

Home sellers will find lots of buyers in all price ranges.  Prices are at their peak in years, so it is among the very best times to sell. Getting your home in the best shape possible will help you sell fast, and get several offers, if priced right.  Not all property meets this description, so know your home and what to expect before going to market.  

Hudson Homes For Sale and Sold Market Statistics - MLS Data

• The Hudson “Home Seller Index” (HSI): 300 Last Report:278
• There are 18 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 111 houses sold, and 50 homes sold in the last 3 months in Hudson.
• The Average number of Days on Market was 26 days for recently SOLD homes.
• There is an Average Market Time of 71 days of the Hudson homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $200 (vs. $194 in the last report)
• Current home sellers are looking for $ 196 /sq. foot
• There was an Average Sold Price of $385,851 .
• Hudson , MA, has 0 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 0 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

The Hopkinton Homes For Sale Market Report

In Hopkinton, home sellers are far more optimistic than they are in Holliston.  Hopkinton prices have been moving up, after a period of stability, but home sellers are moving expectations up even faster.  

Transactions have been increasing, and that volume may be triggering home sellers enthusiasm.  So far though, the buyers are not really participating, but prices paid are moving up, even if only about 1.5% in the last year.

Can’t see the chart? You can find it Here .

What should potential home buyers do in Hopkinton ?

Home buyers will find some good homes on the market with prices that are too high - many homes have been sitting  - but the good items that need very little work and are price right continue to sell quickly, often first weekend, often in competitive situations.  Knowing the market will help you navigate that issue. 

Find Your Next Home or Check out the Competition!

• Sign me up for Automated E-mail Alerts of New Listings in Hopkinton!
• Show Me Hopkinton, MA Homes for Sale
• Show Me Updated Hopkinton Home Sale Reports and More!
• Reach me to be your Hopkinton MA Realtor

What should future home sellers do in Hopkinton ?

Home sellers in Hopkinton can be excited about the HSI moving steadily up, approaching a peak not seen in a few years.  More houses have been coming on for sale, but transactions have picked up the slack, as inventory is tight everywhere at this point in the cycle. 

Hopkinton Homes For Sale and Sold Market Statistics - MLS Data

• The Hopkinton “Home Seller Index” (HSI): 156 Last Report:131
• There are 62 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 201 houses sold, and 96 homes sold in the last 3 months in Hopkinton.
• The Average number of Days on Market was 62 days for recently SOLD homes.
• There is an Average Market Time of 198 days of the Hopkinton homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $226 (vs. $222 in the last report)
• Current home sellers are looking for $ 253 /sq. foot
• There was an Average Sold Price of $666,708 .
• Hopkinton , MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 1 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

• Dangers in the home: Which danger involves the greatest risk? Asbestos, CO, Radon, Lead Paint?
• What is a pre-foreclosure house and how can I buy one?
• What should the humidity in my home be to prevent mold and mildew and other moisture issues?
• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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

 

The Holliston Homes For Sale Market Report

Holliston market keeps improving for sellers.  The price action in the town, seen below, doesn't reflect that.  Sellers have been asking pretty close to what the buyers are expecting, and buyers aren't paying appreciably more than there were last year at this time.  But things are tight, and if they get tighter, prices could move quickly from here. 

Can’t see the chart? You can find it Here .

What should active home buyers do in Holliston ?

Home buyers will find the market thin, but no thinner than it has been.  It's so thin though, that there will be pockets of prices that are super competitive, so you need to move fast.  Pricing has been stable, which helps buyers figure out what's fair, but keep an eye out for evidence things are getting tighter.

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What should potential home sellers do in Holliston ?

Holliston Houses For Sale and Sold Market Statistics - MLS Data

• The Holliston “Home Seller Index” (HSI): 192 Last Report: 179
• There are 40 homes actively listed as For Sale for Home Buyers.
• In the last 6 months, there have been 161 houses sold, and 74 homes sold in the last 3 months in Holliston.
• The Average number of Days on Market was 47 days for recently SOLD homes.
• There is an Average Market Time of 162 days of the Holliston homes For Sale (currently for sale).
• The amount that was paid by Home buyers in Dollars per Square Foot averaged $220 (vs. $214 in the last report)
• Current home sellers are looking for $ 216 /sq foot
• There was an Average Sold Price of $497,855 .
• Holliston , MA, has 3 properties advertised as lender owned or foreclosure (typically foreclosure) .
• There are 2 properties advertised as a short-sale is going to be needed by the lender.

All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends. *That means you won’t find it anywhere else. Take that, Case-Schilling!.

Don’t Go Just Yet! More Information for you…

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• If a home has Knob and Tube wiring, what do I need to know?
• Updated summary report on residential property taxes. Where are you ranked?
• Interviewing Realtors? Here’s the inside scoop!
• Things every home buyer should know about Radon.

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.

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