The Framingham Homes For Sale Market Report

Framingham had a good Q2. With over 400 sales, buyers kept the pressure on. Framingham has seen extended price pressures, as a result, we have seen prices move up, and they continue up in this report.

 

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

What's really cool here is how the HSI looks at the complete market. At first glance, the Home Selling Index only move up 4 points. But when you dig deeper, sales almost doubled from the last report, so why didn't it move higher? The answer is because inventory is higher. There are more houses on the market. So the more aggressive activity is offset by the fact that there are more choices.  That reduces pressure on buyers to make a choice, which decreases bidding wars, and will set the stage for a cooler market. Assuming, of course, homes continue to come on the market.

 

What should active home buyers do in Framingham?

I've noted for a while that buyers should be exceedingly careful in Framingham, and should really look elsewhere, as the market is getting very pricey relative to some of it's neighbors. Prices have climbed 5% on that evaluation, so it's definitely frothy to say the least. It is clear though, that many of those home buyers are not reading this blog. Buyers have pushed prices up so high that what's left in Framingham - like in Clinton - is actually priced lower in aggregate than the recent sales. That likely means prices have moved too far, too fast, and there will be a pause or even a pull back here. With the slower season in front of us, the stage is set. So if you are a buyer, you may want to wait a little bit, as things look like they are settling out. It's still a very, very tough market though, and caution about overpaying can't be mentioned too many times!! The average home is on the market just 59 days, so bidding wars have been common. It looks less likely to continue at the same pace though.

 

Find Your Next Home or Check out the Competition!

 

What should potential home sellers do in Framingham?

With recent sales hitting a record price rise, you should get out while the getting is good! Prices look like they are not going to continue to climb, as it we are seeing elements that the run is over, and selling could be much more difficult sooner than you think. The market is very good, it's a great time - but the next report may not be as rosy for sellers.

 

 

Framingham Houses For Sale and Sold Market Statistics - Raw MLS Data

 

  • Framingham‘s “Home Seller Index” (HSI): 172 Last Report: 168
  • There are 128 homes listed as For Sale.
  • There have been 409 houses sold in the last 6 months, and 319 homes sold in the last 3 months in Framingham.
  • The Average number of Days on Market was 59 days for just SOLD homes.
  • There is an Average Market Time of 91 days of the Framingham homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $202 (vs. $193 )
  • Current sellers are looking for 201 $/sq foot
  • There was an Average Sold Price of $377,208 for sold homes.
  • Framingham, MA, has 3 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 5 properties advertised as a short-sale is going to be needed by the lender.

 

 

 

*All statistics 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!).

 

 

Most Googled Postings!!

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.