Is Westborough, 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, Westborough has remained a Seller's Market.
Key Takeaway
Westborough is a Sellers Housing Market, which means prices tend to be higher and homes sell faster.
Housing Prices in Westborough, MA
How much do homes in Westborough, MA cost?
Median Sold Price
$652,500
$346/sqft
Based on all homes sold in the last 12 months.
Difference Since May 2023
Key Takeaway
Homes in Westborough have sold for 1.1% less than they did a year ago.
Summary: The median home sold price in Westborough was $652,500 in May 2024, down 1.1% from last year, and the median price per square foot was $346.
Median Sold Price By Bedroom Count
| # BEDS# BEDROOMS | May 2023 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | $379.1K | $404.4K | +6.7% |
| 2 Bedrooms | $501.6K | $525K | +4.6% |
| 3 Bedrooms | $566K | $637.5K | +12.6% |
| 4 Bedrooms | $853K | $967.5K | +13.4% |
| 5+ Bedrooms | $962.5K | $937K | -2.6% |
Summary: Westborough housing prices by bedroom type for May 2024 compared to the previous year: The home price of 1 bedroom homes increased by 6.7%, 2 bedroom homes increased by 4.6%, 3 bedroom homes increased by 12.6%, 4 bedroom homes increased by 13.4%, and 5+ bedroom homes decreased by 2.6%.
Median Sold Price Compared To Nearby Cities
| North Grafton | $450K | $542.5K | +20.6% |
| Northborough | $600K | $662.5K | +10.4% |
| Hopkinton | $823.5K | $884K | +7.3% |
| Southborough | $910K | $950K | +4.4% |
| Westborough | $660K | $652.5K | -1.1% |
Housing Supply in Westborough, MA
How many homes are available in Westborough, MA?
Number of Homes For Sale
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 46 | 55 | +19.6% |
Summary: The Westborough real estate market had 55 homes for sale in May 2024, a 19.6% increase compared to April 2024.
Homes For Sale By Bedroom Count
| # BEDS# BEDROOMS | Apr 2024 | May 2024 | CHANGE |
|---|---|---|---|
| 1 Bedroom | 2 | 2 | 0.0% |
| 2 Bedrooms | 15 | 19 | +26.7% |
| 3 Bedrooms | 8 | 14 | +75.0% |
| 4 Bedrooms | 16 | 16 | 0.0% |
| 5+ Bedrooms | 5 | 4 | -20.0% |
Summary: The Westborough 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 increased by 26.7%, 3 bedroom homes increased by 75%, 4 bedroom homes remained the same, and 5+ bedroom homes decreased by 20%.
Number of Homes Sold
| Apr 2024 | May 2024 | CHANGE |
|---|---|---|
| 10 | 11 | +10.0% |
Asking Price vs. Sold Price
2 Homes Were Sold
Under Asking
3 Homes Were Sold
At Asking
6 Homes Were Sold
Over Asking
Key Takeaway
If you're buying a home in Westborough, you could pay more than the asking price. 54.5% of homes here sold above asking price last month.
Summary: A total of 11 homes were sold or pending in Westborough in May 2024, up by 10.0% month-over-month. Of the 11 sold homes, 18% were sold under asking, 27% were sold at asking, and 55% were sold over asking.
Days on Market for Westborough, MA
How long does it take to sell a home in Westborough, MA?
Average Sale Time
| May 2023 | May 2024 | CHANGE |
|---|---|---|
| 28 Days | 48 Days | +66.8% |
Summary: Homes in Westborough had an average of 48 days on market in May 2024, up by 66.8% compared to last year.
Breakdown of Home Sale Times
7 Homes Were Sold
Under 30 Days
2 Homes Were Sold
In 30 - 90 Days
2 Homes Were Sold
Over 90 Days
Key Takeaway
Many homes in Westborough are selling fast, if you're buying plan to act quickly.
Summary: During May 2024, 11 homes were sold in Westborough; 64% of homes were sold within 30 days, 18% of homes were sold within 30 to 90 days, and 18% of homes were sold over 90 days.
