Is Southbridge Town, 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 Town has remained a Seller's Market.
Key Takeaway
Southbridge Town is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southbridge Town, MA
How much do homes in Southbridge Town, 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 Town have sold for 7.6% more than they did a year ago.
Summary: The median home sold price in Southbridge Town 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 Town 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 Town | $330K | $355K | +7.6% |
| Southbridge | $330K | $355K | +7.6% |
| Sturbridge | $435K | $454.5K | +4.5% |
| Dudley | $404K | $401K | -0.7% |
Housing Supply in Southbridge Town, MA
How many homes are available in Southbridge Town, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 43 | 43 | 0.0% |
Summary: The Southbridge Town 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 Town 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 Town, 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 Town 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 Town, MA
How long does it take to sell a home in Southbridge Town, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 34 Days | 20 Days | -39.7% |
Summary: Homes in Southbridge Town 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 Town are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 13 homes were sold in Southbridge Town; 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.
