Overview of the Westborough Housing Market

As noted in the last report, prices had fallen fairly significantly in Westborough probably due to the tax rate, but there's usually a point at which the market gets cheap enough where people overlook such things, and Westborough has found that point. Sales exploded since the last report, and as a result the Westborough Hot Seller Index jumped from 75 up to 95. The last three months in particular have seen a wave of purchasing, probably as buyers who were focusing further east found the selection and prices they wanted in Westborough. Prices have not, however, risen, despite all the activity, but it will be interesting to see if that trend too starts to move upward. There are still many home sales pending that have yet to hit the final numbers.

 

 

Once again we see short-sales up and foreclosures steady, as sellers and agents are clearly expressing more optimism that these deals can get done at these levels. Short-sales will keep a lid on prices a bit, but there's really not enough in Westborough for them to have anything but a minor effect.

 

 

Westborough Real Estate For Sale and Sold Market Statistics - Raw MLS Data

 

Home Buyers grabbed everything that was reasonably priced and then some in just the last couple of months

 

• There are 81 homes listed (vs. 67 in the last Westborough Homes for Sale Report) as For Sale.
• There have been 95 houses sold (vs. 67) in the last 6 months, and 74 homes sold (vs. 35) in the last 3 months.
• There was an Average Market Time of 130 days for just SOLD homes.
• There is an Average Market Time of 119 days of the homes For Sale.
• The Dollars paid per Square Foot in Westborough is $171 (vs. $171 )
• There was an Average Sold Price of $379,793 for sold homes.
• Westborough has 1 properties (vs. 1) advertised as lender owned/foreclosure (typically foreclosure) .
• Westborough has 3 properties (vs. 1) advertised as a shortsale is going to be needed by lender .
• Westborough “Hot Seller Index” (HSI): 95 Last Report: 75

 

 

*All statistics are for Single Family Houses and based on data in MLS.

 

Read my Explanation for Massachusetts Home Data Reports.

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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.