Is Northborough, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since May 2023
Since last year, Northborough has remained a Seller's Market.
Key Takeaway
Northborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Northborough, MA
How much do homes in Northborough, MA cost?
Median Sold Price
$662,500
$316/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Northborough have sold for 10.4% more than they did a year ago.
Summary: The median home sold price in Northborough was $662,500 in May 2024, up 10.4% from last year, and the median price per square foot was $316.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $524.7K | $537.3K | +2.4% |
| 3 Bedrooms | $580K | $590K | +1.7% |
| 4 Bedrooms | $750K | $825K | +10.0% |
| 5+ Bedrooms | $690K | $880K | +27.5% |
Summary: Northborough housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes increased by 2.4%, 3 bedroom homes increased by 1.7%, 4 bedroom homes increased by 10%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Cities
| Berlin | $547.5K | $709.5K | +29.6% |
| Boylston | $529K | $650K | +22.9% |
| Northborough | $600K | $662.5K | +10.4% |
| Marlborough | $520K | $539.9K | +3.8% |
| Westborough | $660K | $652.5K | -1.1% |
Housing Supply in Northborough, MA
How many homes are available in Northborough, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 42 | 52 | +23.8% |
Summary: The Northborough real estate market had 52 homes for sale in May 2024, a 23.8% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 8 | 7 | -12.5% |
| 3 Bedrooms | 8 | 19 | +137.5% |
| 4 Bedrooms | 19 | 18 | -5.3% |
| 5+ Bedrooms | 7 | 8 | +14.3% |
Summary: The Northborough housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 12.5%, 3 bedroom homes increased by 137.5%, 4 bedroom homes decreased by 5.3%, and 5+ bedroom homes increased by 14.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 12 | 14 | +16.7% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northborough, you could pay more than the asking price. 85.7% of homes here sold above asking price last month.
Summary: A total of 14 homes were sold or pending in Northborough in May 2024, up by 16.7% month-over-month. Of the 14 sold homes, 14% were sold under asking, 0% were sold at asking, and 86% were sold over asking.
Days on Market for Northborough, MA
How long does it take to sell a home in Northborough, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 14 Days | 12 Days | -16.5% |
Summary: Homes in Northborough had an average of 12 days on market in May 2024, down by 16.5% compared to last year.
Breakdown of Home Sale Times
14 Homes Were Sold
Under 30 Days
0 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Northborough are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 14 homes were sold in Northborough; 100% of homes were sold within 30 days, 0% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
