Ashland Reports are out!

Latest real estate reports in Ashland


My latest reports on Ashland are linked below. I've started a specialty blog for Ashland, as it has one of the more diverse property sets ups in Metrowest.


Here's the condo report: Ashland Condos


Here's the single family report: Ashland Single Families  


That's right!  My Ashland information is moving......

Happy reading!!


Matt

Real Estate Sales for Worcester, MA (July, 2014)

Homes For Sale in Worcester Market Report

Regular readers know, Worcester is one of my favorite reports. While many of the towns have too little inventory to draw conclusions by themselves, Worcester has plenty. It's almost always a the deciding factor in both "what's happening now" and "what's likely to happen soon". So! What does the data look like? Here we go.
Can’t see the chart? You can find it Here .

What do we see? Well, we see some hallmarks that we have seen in other towns. Rising inventory (the dark line) - to more "normal/balanced" levels - and rising transaction activity (the orange line). And just as in some other reports, the vast majority of the sales have been in the last 3 months. That's helped keep the HSI's steady (the blue boxes)- Worcester's dropped only 2-but ultimately this sales pattern will put pressure on all the HSI's in the coming months as that trend reverses (which in all likelihood it will!). How about prices? Here:


Prices are up, but modestly. Worcester prices are at a record for my tracking. Prices rising is definitely good, but there is a big red flag in this report. Bank controlled inventory - short-sales and foreclosures - more than doubled in this report. In fact, about 60% of the increase in for sale listings is due to this jump in distressed inventory. It's too soon to know what this means - if anything - but it's not good for home sellers. Hopefully, it's the banks getting rid of the last of the distressed homes for sale that they have, and once it's gone, it won't come back. But we will see.

What should active home buyers do in Worcester?

Active home buyers won't see too many competitive bids. Still, you need to know what you want, where you want it, and you need to know the inventory. Some parts of Worcester are selling far faster and better than the HSI of 106 would indicate. It's a big city, it doesn't all follow the same pattern. If you need more details, ask!




What should potential home sellers do in Worcester?

Home sellers should see two elements in this report - record prices and low inventory. Want to move? This could be your chance before the interest rate cycle (rising interest rates) starts throwing a monkey wrench in the works. With an average days on market near 100, buyers are making decision very quickly.  Get out there and see if you can sell!!


Worcester Recent Houses For Sale and Sold Market Statistics - Raw MLS Data


  • Worcester‘s “Home Seller Index” (HSI): 106 Last Report: 108
  • There are 373 homes listed as For Sale.
  • There have been 612 houses sold in the last 6 months, and 435 homes sold in the last 3 months in Worcester.
  • The Average number of Days on Market was 108 days for just SOLD homes.
  • There is an Average Market Time of 105 days of theWorcester homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged $123 (vs. $119)
  • There was an Average Sold Price of $190,324 for sold homes.
  • Worcester,MA, has 58 properties advertised as lender owned or foreclosure (typically foreclosure) .
  • There are 50 properties advertised as a short-sale is going to be needed by the lender.



*All statistics 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!).


Matt's Top Read Real Estate Posts


Read my Explanation for Massachusetts Home Data Reports.

Hottest Towns for Homes in Metrowest - July Update!

Where are the houses the most hard to get in Metrowest?

Check in time! Everyone loves rankings. Let's see who's king of the field.
Things are looking good for Metrowest Real Estate

Alright. Everyone remembers the ground rules right? Well, if you don't, there are here. And while we're at that post, we'll use the data too. It's from July last year:
2013 showed more disparity across markets.

Surprising Changes in the Metrowest Housing Markets



  1. Hopkinton has gone from one of the pressure cooker markets (#4 in 2013) to one of the also-rans ( #16 in 2014).  Shrewsbury, too, has cooled off.  Why?  Rising prices will do that!  Hopkinton has been up huge - and the higher prices have reach a limit for now.  Buyers are finding value elsewhere (like Sudbury and Holliston)
  2. It's a much tighter race.  In 2013, we had a large disparity in the HSI, from 70 to 200.  Not so this time.  Only one laggard, and everyone else is near 100.  There's been a lot of pull-back from the 150's as well, so everyone is pretty crowded between 100-150.  That's very healthy, and bodes well for the future for homeowners.
  3. Sudbury and Medfield rebound.  They were not so hot last year, but they find themselves among the leaders this year.
  4. Westborough and Milford make big jumps.  Westborough isn't among the leaders, but it was way back in the pack, and is now in the mix.  Milford jumped from the middle to the top, as the deep values in Milford finally caught buyers eyes.


Not-so Surprising Changes in the Metrowest Housing Markets



  1. Natick is still on top. Again! They have had an amazing run, and I'm starting to wonder when it will end, but eventually the sellers will start asking for more, and then they'll fall back to the pack - just like Hopkinton and Shrewsbury.  Just don't know when that will be just yet!
  2. Western suburbs still trail the pack.  Although not universal, (Hudson), most of the far western suburbs, although strengthening, have not really participated in the real estate rally as much as the other towns.  That is where the value still resides today, and the only question is how soon prices start to move out there (think 2015!!).

Real Estate Sales for Westborough, MA (June, 2014)

Homes For Sale in Westborough Market Report

Westborough has seen the number of homes for sale more than double since the last report; and the HSI has fallen 60 points from it's peak. Does that mean all is lost for home sellers in Westborough? Do good deals abound for home buyers? Uh, not exactly.
Can’t see the chart? You can find it Here .
Yes, the HSI has taken a steep dive. But it's still at 119, which is not too shabby! Actually, things have been moving aggressively in Westborough, as we see transactions at the third highest level. And then we see this:

That's right, prices are up. People are seeing values in Westborough, and they are buying them up. Sellers are even more optimistic, with the active properties on for another 5% above these levels.

What should active home buyers do in Westborough?

Looking for a deal in Westborough? Too late. Where you been? Early bird gets the worm and all that. No, you'll have to be a much savvy shopper going forward. The average seller in Westborough has only been on 78 days, and that's not long enough to get anyone to take a low ball bid. Well, probably not anyway.



What should potential home sellers do in Westborough?

Look at that price chart, dude!! Get out their and sell! Seriously though, if you have a luxury property (better than 800K), and you are thinking 2015 is your year, well, remember rates are going up, and that tends not to bode well for the luxury segment. Might want to try now. For other potential sellers, if you are contemplating a change, time to get out there and see what you can get, market is good!


Westborough Recent Houses For Sale and Sold Market Statistics - Raw MLS Data


  • Westborough‘s “Home Seller Index” (HSI): 119 Last Report: 154
  • There are 63 homes listed as For Sale.
    Grills aren't the only thing hot in Westborough.
    So are house prices!
  • There have been 114 houses sold in the last 6 months, and 94 homes sold in the last 3 months in Westborough.
  • The Average number of Days on Market was 76 days for just SOLD homes.
  • There is an Average Market Time of 78 days of theWestborough homes For Sale (currently for sale).
  • The amount that was paid in Dollars per Square Foot averaged 196 (vs. 189)
  • There was an Average Sold Price of $476,172 for sold homes.
  • Westborough,MA, has 0 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 statistics 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!).


Matt's Top Read Real Estate Posts