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The February 2011 Report

By
Real Estate Agent with RE/MAX Prestige Real Estate

This past February was quite the month for real estate in Westborough and its surrounding towns (Southborough, Northborough, Hopkinton, Shrewsbury, Grafton and Upton.) In February of 2010 there were 40 sales for the month with an average sales price (ASP) of $388,910 and an average days-on-market time (ADOM) of 139. How does February 2011 compare?!

The following data was pulled from Multiple Listing Service (MLS) on 03/01/2011. The search criteria includes the town of Westborough and its surrounding towns of Southborough, Northborough, Hopkinton, Shrewsbury, Grafton and Upton, MA.

Market Year

SOLD

ASP

ADOM

FEB-2011

33

$423,589

155

FEB-2010

40

$388,910

139

 

What do these results tell us about the market changes from 2010 to 2011?! February had more sales with fewer days on market in 2010 but 2011 brought and higher ASP. This is a good indicator that locally the market has improved. There are several other variables that could have affected the results such as the amount of homes available FOR SALE in February 2010 (those numbers are unattainable through MLS.) But overall, this snap shot can bring hope to our market area that even though homes are taking slightly longer to sell...they are commanding a better price.

For a town specific breakdown of this marketplace or any other areas, please contact us. We're ready when you are!

Edward Newton III
RE/MAX Prestige
The Westborough Specialists
508.439.0241

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