Is Northborough, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since June 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
$670,000
$306/sqft
Based on all homes sold in the last 12 months.
Difference Since June 2023
Key Takeaway
Homes in Northborough have sold for 11.7% more than they did a year ago.
Summary: The median home sold price in Northborough was $670,000 in June 2024, up 11.7% from last year, and the median price per square foot was $306.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $528K | $501.7K | -5.0% |
| 3 Bedrooms | $575K | $634.9K | +10.4% |
| 4 Bedrooms | $790K | $810K | +2.5% |
| 5+ Bedrooms | $690K | $880K | +27.5% |
Summary: Northborough housing prices by bedroom type for June 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 5%, 3 bedroom homes increased by 10.4%, 4 bedroom homes increased by 2.5%, and 5+ bedroom homes increased by 27.5%.
Median Sold Price Compared To Nearby Cities
| Berlin | $580K | $729.1K | +25.7% |
| Boylston | $560K | $653.3K | +16.7% |
| Northborough | $600K | $670K | +11.7% |
| Marlborough | $520K | $549.5K | +5.7% |
| Westborough | $637.7K | $655K | +2.7% |
Housing Supply in Northborough, MA
How many homes are available in Northborough, MA?
Number of Homes For Sale
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 52 | 55 | +5.8% |
Summary: The Northborough real estate market had 55 homes for sale in June 2024, a 5.8% increase compared to May 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | May 2024 | Jun 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 7 | 9 | +28.6% |
| 3 Bedrooms | 17 | 20 | +17.6% |
| 4 Bedrooms | 20 | 21 | +5.0% |
| 5+ Bedrooms | 8 | 5 | -37.5% |
Summary: The Northborough housing inventory by bedroom type for June 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes increased by 28.6%, 3 bedroom homes increased by 17.6%, 4 bedroom homes increased by 5%, and 5+ bedroom homes decreased by 37.5%.
Number of Homes Sold
| May 2024 | Jun 2024 | CHANGE |
|---|---|---|
| 14 | 22 | +57.1% |
Asking Price vs. Sold Price
3 Homes Were Sold
Under Asking
2 Homes Were Sold
At Asking
17 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Northborough, you could pay more than the asking price. 77.3% of homes here sold above asking price last month.
Summary: A total of 22 homes were sold or pending in Northborough in June 2024, up by 57.1% month-over-month. Of the 22 sold homes, 14% were sold under asking, 9% were sold at asking, and 77% 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
| Jun 2023 | Jun 2024 | CHANGE |
|---|---|---|
| 16 Days | 20 Days | +26.4% |
Summary: Homes in Northborough had an average of 20 days on market in Jun 2024, up by 26.4% compared to last year.
Breakdown of Home Sale Times
18 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
1 Home Was Sold
Over 90 Days
Key Takeaway
Many homes in Northborough are selling fast, if you're buying plan to act quickly.
Summary: During June 2024, 22 homes were sold in Northborough; 82% of homes were sold within 30 days, 14% of homes were sold within 30 to 90 days, and 5% of homes were sold over 90 days.
