- Westborough has 76 homes (vs. 56 in the last report) listed as Active.
- Westborough had 57 houses sold (vs. 42) in the last 6 months, and 36 (vs. 16) homes sold in the last 3 months.
- Westborough has an Average Market Time of 180 days (vs 148) for SOLD homes.
- Westborough has an Average Market Time of 131 days (vs 178) for ACTIVE homes.
- Westborough has an Average Sold Price of $446,258 for sold homes.
- Westborough has zero properties (vs 4) advertised as lender owned (typically foreclosure) .
- Westborough has six properties (vs 11) advertised as short sales required by lender .
*All statistics are for Single Family Homes.
Wondering about my Market Methodology? Read my Explanation for Massachusetts Home Statistics.
Analysis of Housing Market Statistics
Westborough, Massachusetts :
Very interesting Westborough report today. First a shadow inventory update for Westborough. With zero foreclosures, it's hard to see how the shadow inventory is going to affect Westborough. Six short-sales though, so some troubled inventory. But that's way down from the last report, which had fifteen homes in the troubled part.
Inventory is up, but it's all new inventory - the rapidly falling active days on market shows the newness of it. Sales have moved up swiftly as well, and note the last three months - 36 sales - and at that pace Westborough will quickly move from a neutral market to a seller's market. But we'll see if that momentum can continue, and if the number of sellers stagnates - or continues to soar. With over half of Westborough's inventory under 500K, I expect sales to keep moving quickly, and not stagnate as much as they might in Sudbury and Medfield - where the luxury markets are choking off the competition at the top end.
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Matt Heisler is a real-estate professional and owner of Heisler & Mattson Properties. He has been selling residential real-estate for over 20 years. He has given several talks on real estate, including presentations on first-time buyer tips & tricks, and profiting in real estate investing in Massachusetts. 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.
