Is Southbridge, 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, Southbridge has remained a Seller's Market.
Key Takeaway
Southbridge is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southbridge, MA
How much do homes in Southbridge, MA cost?
Median Sold Price
$355,000
$217/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Southbridge have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Southbridge was $355,000 in May 2024, up 7.6% from last year, and the median price per square foot was $217.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $145K | $310K | +113.8% |
| 2 Bedrooms | $295K | $274.1K | -7.1% |
| 3 Bedrooms | $330K | $345K | +4.5% |
| 4 Bedrooms | $319.5K | $380K | +18.9% |
| 5+ Bedrooms | $350K | $420K | +20.0% |
Summary: Southbridge housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 113.8%, 2 bedroom homes decreased by 7.1%, 3 bedroom homes increased by 4.5%, 4 bedroom homes increased by 18.9%, and 5+ bedroom homes increased by 20%.
Median Sold Price Compared To Nearby Cities
| Charlton | $449.9K | $520K | +15.6% |
| Southbridge | $330K | $355K | +7.6% |
| Southbridge Town | $330K | $355K | +7.6% |
| Sturbridge | $435K | $454.5K | +4.5% |
| Dudley | $404K | $401K | -0.7% |
Housing Supply in Southbridge, MA
How many homes are available in Southbridge, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 43 | 0.0% |
Summary: The Southbridge real estate market had 43 homes for sale in May 2024, the same as April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 1 | 0 | -100.0% |
| 2 Bedrooms | 9 | 6 | -33.3% |
| 3 Bedrooms | 14 | 14 | 0.0% |
| 4 Bedrooms | 7 | 10 | +42.9% |
| 5+ Bedrooms | 12 | 13 | +8.3% |
Summary: The Southbridge housing inventory by bedroom type for May 2024 compared to the previous month: The inventory of 1 bedroom homes decreased by 100%, 2 bedroom homes decreased by 33.3%, 3 bedroom homes remained the same, 4 bedroom homes increased by 42.9%, and 5+ bedroom homes increased by 8.3%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 13 | 13 | 0.0% |
Asking Price vs. Sold Price
0 Homes Were Sold
Under Asking
1 Home Was Sold
At Asking
12 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southbridge, you could pay more than the asking price. 92.3% of homes here sold above asking price last month.
Summary: A total of 13 homes were sold or pending in Southbridge in May 2024, the same as the previous month. Of the 13 sold homes, 0% were sold under asking, 8% were sold at asking, and 92% were sold over asking.
Days on Market for Southbridge, MA
How long does it take to sell a home in Southbridge, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 20 Days | -39.7% |
Summary: Homes in Southbridge had an average of 20 days on market in May 2024, down by 39.7% compared to last year.
Breakdown of Home Sale Times
11 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
0 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southbridge are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Southbridge; 85% of homes were sold within 30 days, 15% of homes were sold within 30 to 90 days, and 0% of homes were sold over 90 days.
