Sherborn, MA - Home Sales and Real Estate Market Report (Mar, 2013)

The Sherborn Homes For Sale Market Report

 

This is a special report going out to a fan of the blog, who wished that I had Sherborn in the regular rotation that I covered. (Hey, I can't do the whole state!). But I can certainly take a peak at various towns from time to time. So here's a current snapshot of Sherborn.

 

The stats are below, and I have to admit, after looking at a whole bunch of very similar reports, Sherborn's was nothing like any other town I cover. Let's start at the most important stat. The HSI, or Home Seller Index. 66? A paltry 66? That indicates a buyers market in Sherborn. What? Desirable Sherborn? That makes no sense to me. Then I looked at market time: 308 days on AVERAGE for closed properties. Well, that's downright miserable. What gives? How can this be? Than I figured it out.

 

Let's take a gander (that right, I said gander), at the Average Sold Price. $827K. Yikes! Well, if all you've got in town is houses around a Million, even in this market it's going to take some time to find buyers. And the actives were even HIGHER, averaging well over a million.

 

So what does that mean? Well, buyers should probably take a look at most asking prices and realize that they are more, uh, "suggestive" than firm. After all, a great many folks have been out there for 6 months or more, and sellers get antsy after that 150 day mark. And sellers: might want to think about some price reductions if you're 1M plus. There's not enough buyers to go around at that level, and that's why you're not getting sold. As a final note, if your bargain hunting in Sherborn - under 800K - the market is quite different, as demand remains quite strong. We saw a similar break down in Sudbury a while ago, where demand under 800 was totally different than above 800, and we see the same here.

 

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

Sellers above 1M should be sharpening their

pencils - ans asking prices - in Sherborn

 

  • There are 35 homes listed as For Sale in Sherborn.
  • There have been 22 houses sold in the last 6 months, and 15 homes sold in the last 3 months.
  • The Average number of Days on Market was 308 days for just SOLD homes.
  • There is an Average Market Time of 199 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $249
  • There was an Average Sold Price of $827,488 for sold homes.
  • Sherborn has 0 properties advertised as lender owned/foreclosure (typically foreclosure) .
  • Sherborn has 0 properties advertised as a short-sale is going to be needed by lender .
  • Sherborn “Home Seller Index” (HSI):66 Last Report: N/A

 

 

 

 

 

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