The Upton Homes For Sale Market ReportThere's some interesting data in Upton in this report. At a high-level, things look better, with the HSI jumping to the low seventies from 62 in the last report. But the low 70's still indicates a buyers market, or at best a neutral market for desirable properties. The number of homes for sale is up and sales have not kept pace.
However, that's not the only interesting trend. The prices in Upton are actually up - a record since we've been tracking - to $157, a good jump from $153. How can the market look soft, yet support higher prices? This contradictory data shows an insight in to the mind of the buyer - and why not all buyers are created equal. I would surmise that there were several people who were "Upton committed" - buyers for whom Upton was the only town they were really looking at. We see this a lot in towns, as people switch houses, but desire to keep kids in the same town, but there are other reasons as well. Either way, these buyers were making decisions not based on the "relative" price of the market - which is high - but on the "best available" strategy. They can't wait 6 months for prices to fall - so they make the best deal they can. In this case, the best deals were a little on the pricey side, but the buyers had little choice, and paid what they needed to.
Other buyers, who had more flexibility with location, passed on Upton this spring, leaving the town with too much inventory, and sellers who will be cutting prices this fall.
Upton Houses For Sale and Sold Market Statistics - Raw MLS Data
- There are 59 homes listed as For Sale.
- There have been 41 houses sold in the last 6 months, and 25 homes sold in the last 3 months.
- The Average number of Days on Market was 137 days for just SOLD homes.
- There is an Average Market Time of 185 days of the homes For Sale.
- The Dollars paid per Square Foot in Upton is $157 (vs. $153 )
- There was an Average Sold Price of $359,281 for sold homes.
- Upton has 1 properties (vs. 1) advertised as lender owned/foreclosure (typically foreclosure) .
- Upton has 0 properties (vs. 0) advertised as a short-sale is going to be needed by lender .
- Upton “Hot Seller Index” (HSI):72 Last Report: 62
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*All statistics are for Single Family Houses and based on data in MLS.
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