Hopkinton Massachusetts Real Estate Market Report October 2008
In October of 2008 there were 10 homes that closed within the month for Hopkinton Massachusetts. This is a decrease of 1 units as there were 11 homes that closed in October of 2007.
The Average list price for the homes that closed in Hopkinton for October of 2007 was $524,591
The Average list price for the homes that closed in Hopkinton for October of 2008 was $885,638
The Average sale price for the homes that closed in Hopkinton for October of 2007 was $507,382
The Average sale price for the homes that closed in Hopkinton for October of 2008 was $835,990
The Average Market time for the homes that closed in Hopkinton in October of 2007 was 154 days.
The Average Market time for the homes that closed in Hopkinton October of 2008 was 119 days.
5 homes went under agreement in Hopkinton Massachusetts in the month of October. The average list price of the homes that went under agreement was $596,920. The average time on the market for these Hopkinton homes were 126 days.
January - October Market Statistics for Hopkinton MA
In Hopkinton MA for the period of January to October of 2007 there were 164 properties sold.
In Hopkinton MA for the period of January to October 2008 there were 112 properties sold.
In Hopkinton MA for the period of January to October in 2007 the average list price was $635,643 the average sale price was $614,114 and the average market time was 136 days.
In Hopkinton MA for the period of January to October in 2008 the average list price was $616,269 the average sale price was $592,072 and the average time on the market was 134 days.
** The above statistics are for single family homes only and do not include condo's or Multi-family homes in Hopkinton MA.
In comparing year over year longer term data for Hopkinton Massachusetts, it appears that there is still a downward trend in the average sale price for homes. The average days on the market has remained fairly stable for the same period in Hopkinton Massachusetts. The amount of sales is down quite a bit year over year.
These statistics are similar to many of the towns in Metrowest MA and represent the on going weakness in the market as compared to previous years. What must be stressed, however, is that these home figures still represent a healthy amount of sales.
Click here for previous Hopkinton MA Real Estate market reports.
Selling a home in Hopkinton Massachusetts or other Metrowest town is heavily dependant on pricing your home properly and picking an agent that will create an "online market presence" for your home. As a home seller, you need to be aware that the market in Hopkinton and many other Metrowest communities has changed over the last three and a half years. We are no longer in a seller's market.
When selling a home in Hopkinton MA, it pays to have a pro in your corner representing you. Here are some excellent questions to ask when interviewing your agent, that will help you determine if you are hiring a top producer or not!
** 85% of all buyers are finding their homes on the Internet. See this must read article on where I advertise on-line. Metrowest MA Homes ~ How to effectively market to the masses on-line. **
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The above Hopkinton Massachusetts Real Estate Market report was provided by Bill Gassett, the team
leader for the #4 RE/MAX Team in Massachusetts in 2007. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Hopkinton MA and other Metrowest towns for the last 22+ Years. Bill's office is conveniently located in the center of Hopkinton MA at 77 Main Street.
I have a passion for Real Estate and love to share my marketing expertise! I would welcome the opportunity to earn your business.
For Massachusetts and Hopkinton MA Real Estate and homes see Hopkinton Real Estate. Want to have MLS access to beat other buyers to your dream home? Sign up with no obligation at my MLS Property Finder Site.
I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, and Framingham MA.
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I'm pretty amazed, actually, by how close the days on market is for both years. We have seen a pretty significant change in the days on market here. Hopefully, that is a good sign for you, Bill. GBU!
Bill,
I guess you could say teh reduction in DOM is a good thing and hopefully you are nearing the bottom. Here's to a strong finish in 2008
Elizabeth it is pretty amazing that the days on market is about the same for Hopkinton. Most of the towns in my area show an increase in the days on market.
Don - Inventory has remained fairly low which has been a saving grace. I don't think we are out of the woods yet but hopefully 09 will be a better year.
Bill - your market reports are great - very detailed and informative. As the comments stated above seems like there are some positive things going on. Like you said, hopefully 2009 is a better year !
Chris & Stephanie thanks for the compliments! My market report does take some time to make but it is worth it. I am looking forward to some improvement in the market in 09!
Bill, I am sure consumers look forward to your market reports. Hope 2009 will be a good year for you.
Bill- always like reading your market reports. Hope things are good for you personally and professionally and the Hopkinton real estate market
Gita - Thanks. The market reports are a lot of work to put together but I enjoy posting them.
James - Thanks a lot I really appreciate the compliments on my reports.
Bill - Very informative report. I am sure there are consumers who look for it monthly.
Do you find you get a lot of feedback - response on these market reports..........do your customers come and look at the stats - expecting them every month? Very interesting!
I like the year over year comparison. I think it really allows people to understand the changes in the market.
I like the way you linked t past market reports, Bill. I've done that occasionally, but not consistently. 'Sorry it's taken me over 2 weeks to reciprocate your comment on my "to-do list" post, but hopefully you subscribe to the theory "Better late than never!"
Jennifer & Liz - Thanks. The reports do take some time to put together but they are being looked at by many in my local market.
Christine - That is exactly why I do it. You need to see the past in order to compare to what is going on in the market now.
Margaret - Thanks. It is a lot of work. No problem on getting back to me.
Bill,
This report is great. I was suprised at how the higher end homes are selling in the town. Interesting times. I have seen an increase in first time buyers and VA loans but those in most cases are at different price points. The reality is VA loans can cover some of these higher end homes. Have a great night
Bill,
Good information. I am waiting for more informative posts like this one! Keep them coming.
Ed there have been quite a few upper end homes sold in Hopkinton this year. Although they usually take longer to sell the fact remains that end of the market has not done that badly.
Marlene - Thanks for the comps on my report for Hopkinton.
Dang! Hopkinton has seen some nice apprecation over the year too! You are so fortunate to live and sell in the area that you do!
Renee I wish that was the case. Year over year Hopkinton's average sale price has gone down. What you are looking at is just the month October.
Bill, I like how your market updates link to past updates, very effective and helpful. I should try that.
P.S. You had made a comment a while back on one of my posts that was the last straw which inspired me to get my Accredited Home Staging Designation. I did it! I just wanted to thank you for your inspiration. You've been such a great help to me here on AR!
Amber
Bill, what a wonderful service you are providing with these consistent, monthly reports for your local areas. I'm sure there are many that count on these now. You sure do bring homes in Hopkington, MA to life!
Amber it gives people a good reference point and allows you to see how the market is changing on a month to month basis.
Mara - Thanks..there is quite a bit of work that goes into creating these reports(:
Bill:
The Report shows many more higher priced homes sold in 2008 vs 2007.
I suppose it was affected by a few big sales?
Richard
Bill an interesting look at the market. I like those side by side comparisons. Easy and quick to understand!