Homes For Sale in Southborough Market Report

OK, on to Southborough. As William Shakespeare may have said, "Et tu, Southborough?". Yes, et tu.

 

We see the current trends in Southborough. Rising prices, as measured by the $/ sq foot metric, an lack of homes for sale on the market (only 35), and lots of property snapped up. What's left, hasn't been around very long, as the average listing has been on just 82 days - showing most sellers are not going to be giving substantial price reductions in the near term.  And while I'm at it, I would like to point out that my data is in direct opposition to some calculations done by the Metrowest Daily News, who indicated that prices in Southborough have been falling.  That, of course is the conclusion when looking at median sales prices, which readers of this blog know can be very misleading - especially in small towns.  Pretty sure the buyers out there will agree with me, though.

 

 

Note: The chart above updates automatically with each new real estate market post, so make sure the comments you are reading line up with the time the post was published.

With an HSI that break through 140, Southborough sets a record for itself, shattering the previous high of 108. There is some evidence that things are "less crazy" but the buyers market, by and large, is long gone in Southborough. Prices were around $186 a square foot just 18 months ago - which works out to 11% rise in prices in 18 months. Take that, stock market.

 

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It's probably time to start talking about the interest rate outlook though, which hasn't been discussed much as the rates have been so compelling they needed little introduction. Rising rates will - eventually - put a damper on these home price increases, but for now, even the significant rise that we've seen in the last month will do little other than slow the rising tide. Rates are still in the low 4's for most people, and that is still a huge plus when buying a house. Now if they get to 5%, that's another story, but I don't think we're going to see that for a while...…

 

 

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

Southborough “Home Seller Index” (HSI):143 Last Report: 91

 

  • There are 35 homes listed as For Sale in Southborough.
  • There have been 97 houses sold in the last 6 months, and 70 homes sold in the last 3 months.

    Knock, Knock Home Sellers.

    Home Buyers are here.
  • The Average number of Days on Market was 108 days for just SOLD homes.
  • There is an Average Market Time of 82 days of the homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $207 (vs. $203 )
  • There was an Average Sold Price of $548032 for sold homes.
  • Southborough ,MA, has 0 properties advertised as lender owned/foreclosure (typically foreclosure) .
  • Southborough has 0 properties advertised as a short-sale is going to be needed by lender .

 

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*All statistics are for Single Family Houses and based on data in MLS. Note, there will be a some what artificial jump in the rankings as the active status flag is being phased out. (this is a good thing, but will screw up my data sets).

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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.