More Homes in Hopkinton – What It Means for Buyers & Sellers!

Active Listings Increased: The number of active single-family home listings jumped from 3 to 10, a 233.33% increase. This suggests a growing inventory, giving buyers more options.
Days on Market Slightly Up: Homes are taking about the same time to sell, with the average days on market increasing by 6% (50 to 53 days).
Listing Prices Down, Price per SqFt Up:
- The average list price dropped by 9.16% (from $1.63M to $1.48M).
- However, the average price per square foot increased by 19.38% (from $385.63 to $460.38), indicating buyers may be paying more per square foot despite lower overall prices.
Absorption Rate Declined Sharply: The absorption rate (a measure of how quickly homes sell relative to available inventory) dropped by 73.69%, meaning homes are selling at a much slower pace.
Months Supply of Inventory Up: Supply increased from 0.20 to 0.76 months (a 280% increase), signaling a shift toward a more balanced market.

More New Listings Year-to-Date: New listings are up 30.77% (from 13 to 17).
Higher Initial Listing Prices: The average original list price increased by 12.79%, reflecting higher seller expectations.
Fewer Homes Going Pending: Despite more listings, pending sales declined by 7.69%, suggesting demand may be slowing or buyers are taking longer to decide.
Pending Prices Up Significantly: The average list price of pending homes jumped 27.65% (from $926K to $1.18M), indicating buyers may be gravitating toward higher-end homes.
Faster Sales Activity: Days to offer dropped sharply from 31 days to just 10 days, a 67.74% decrease, meaning serious buyers are moving quickly.

Price Changes Down: Fewer homes needed price reductions (down 50% year-over-year).
Sold Homes Declined: Closed sales dropped 57.14% (from 14 to 6), a sharp decline in actual transactions.
Average Sale Price Stable: Despite fewer sales, prices remained steady, with the average sale price barely increasing (0.44%).
Slightly Lower Price per SqFt: The average sold price per square foot fell 5.35%, meaning buyers may be negotiating more favorable deals.

Fewer Listings Overall: Over the past 12 months, new listings dropped by 20.47%, suggesting a slowdown in new inventory.
Fewer Homes Going Pending: Pending sales fell 18.62%, signaling a drop in buyer activity.
Fewer Homes Sold: Closed sales declined by 12.29%, showing an overall slowdown in completed transactions.

The Hopkinton real estate market is shifting, with more listings but fewer sales, signaling a potential cooling period or a more balanced market after a period of high demand.
Buyers now have more options, but sellers are pricing their homes higher, especially in the luxury segment.
Pending sales prices suggest demand for higher-end homes, but fewer deals are closing.
Homes that do sell are moving quickly, as seen in the reduced days to offer (31 to 10 days).
If inventory continues to rise while demand slows, buyers may gain more negotiating power in the coming months.

${companyName}

Phone

Address