The Hopkinton Homes For Sale Market ReportIn the last report, we noted that prices had been pushed to a record. Well - it didn't last - prices have pulled back some according to the most recent data. Why? Well, I think of alot of the recent softness has to do with the large Pulte development at Legacy Farms. Although prices are really high there, much of the purchase data doesn't float through to MLS, and the extra supply is keeping a lid on prices. Are the prices at Legacy Farms worth it? That's another question for another day. Things certainly seem OK for Hopkinton sellers - but I don't see any imminent prices rises based on this data.
What should active home buyers do in Hopkinton?Home buyers should make sure they understand their choices. In the 500-800 price range, there's new construction, but it's very expensive in the context of the overall market. A premium is usually paid, but that doesn't mean it can't get out of line with market fundamentals. Buyers looking at pre-owned houses will see a rational market, much cheaper than Natick, but more expensive than Ashland - as is usually the case.
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What should potential home sellers do in Hopkinton?Homes sellers are getting good traffic and many are getting quick sales - just not as quick as a couple of years ago. Yes, the rise in prices has slowed things down a bit, but home prices are still near their highs, and unless a lot more inventory comes on the market, prices should stay firm. Here's what you can't do - push prices up. Know your competition, or you'll have a long sales cycle.
Hopkinton Houses For Sale and Sold Market Statistics - Raw MLS Data
- Hopkinton‘s “Home Seller Index” (HSI): 146 Last Report: 127
- There are 73 homes listed as For Sale.
- There have been 180 houses sold in the last 6 months, and 133 homes sold in the last 3 months in Hopkinton.
- The Average number of Days on Market was 61 days for just SOLD homes.
- There is an Average Market Time of 171 days of the Hopkinton homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged 215 (vs.222 in the last report)
- Current sellers are looking for $226 /sq foot
- There was an Average Sold Price of $653,684 for sold homes.
- Hopkinton, MA, has 1 properties advertised as lender owned or foreclosure (typically foreclosure) .
- There are 0 properties advertised as a short-sale is going to be needed by the lender.
All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends.
*That means you won’t find it anywhere else. Take that, Case-Schilling!.
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Read my Explanation for Massachusetts Home Data Reports.