Is Southborough, MA a buyer’s or seller’s market?
Housing Market Conditions
Neutral
Market
Seller's
Market
Buyer's
Market
Difference Since March 2023
At the same time last year, Southborough was a Neutral Market.
Key Takeaway
Southborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Southborough, MA
How much do homes in Southborough, MA cost?
Median Sold Price
$930,000
$330/sqft
Based on all homes sold in the last 12 months.
Difference Since March 2023
Key Takeaway
Homes in Southborough have sold for 1.9% more than they did a year ago.
Summary: The median home sold price in Southborough was $930,000 in March 2024, up 1.9% from last year, and the median price per square foot was $330.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | - | - | N/A |
| 2 Bedrooms | $598K | $577K | -3.5% |
| 3 Bedrooms | $600K | $671.5K | +11.9% |
| 4 Bedrooms | $1.0M | $1.2M | +12.9% |
| 5+ Bedrooms | $1.6M | $1.9M | +16.8% |
Summary: Southborough housing prices by bedroom type for March 2024 compared to the previous year: The home price of 1 bedroom homes did not change, 2 bedroom homes decreased by 3.5%, 3 bedroom homes increased by 11.9%, 4 bedroom homes increased by 12.9%, and 5+ bedroom homes increased by 16.8%.
Median Sold Price Compared To Nearby Cities
| Hopkinton | $815K | $878.1K | +7.8% |
| Ashland | $581.6K | $609K | +4.7% |
| Southborough | $912.5K | $930K | +1.9% |
| Westborough | $660K | $655K | -0.8% |
Housing Supply in Southborough, MA
How many homes are available in Southborough, MA?
Number of Homes For Sale
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 27 | 28 | +3.7% |
Summary: The Southborough real estate market had 28 homes for sale in March 2024, a 3.7% increase compared to February 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 0 | 0 | 0.0% |
| 2 Bedrooms | 5 | 3 | -40.0% |
| 3 Bedrooms | 4 | 4 | 0.0% |
| 4 Bedrooms | 14 | 19 | +35.7% |
| 5+ Bedrooms | 4 | 2 | -50.0% |
Summary: The Southborough housing inventory by bedroom type for March 2024 compared to the previous month: The inventory of 1 bedroom homes remained the same, 2 bedroom homes decreased by 40%, 3 bedroom homes remained the same, 4 bedroom homes increased by 35.7%, and 5+ bedroom homes decreased by 50%.
Number of Homes Sold
| Feb 2024 | Mar 2024 | CHANGE |
|---|---|---|
| 4 | 9 | +125.0% |
Asking Price vs. Sold Price
5 Homes Were Sold
Under Asking
0 Homes Were Sold
At Asking
4 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Southborough, you may be able to get a good deal. 55.6% of homes here sold below asking price last month.
Summary: A total of 9 homes were sold or pending in Southborough in March 2024, up by 125.0% month-over-month. Of the 9 sold homes, 56% were sold under asking, 0% were sold at asking, and 44% were sold over asking.
Days on Market for Southborough, MA
How long does it take to sell a home in Southborough, MA?
Average Sale Time
| Mar 2023 | Mar 2024 | CHANGE |
|---|---|---|
| 38 Days | 46 Days | +20.3% |
Summary: Homes in Southborough had an average of 46 days on market in Mar 2024, up by 20.3% compared to last year.
Breakdown of Home Sale Times
4 Homes Were Sold
Under 30 Days
3 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Southborough are selling fast, if you're buying plan to act quickly.
Summary: During March 2024, 9 homes were sold in Southborough; 44% of homes were sold within 30 days, 33% of homes were sold within 30 to 90 days, and 22% of homes were sold over 90 days.
