The Long & Foster Market Minute

Focus On: Southbridge Housing Market March 2021

Zip Code(s): 22026
Units Sold
26
Active Inventory
11
Median Sale Price
$467,000
Days On Market
6
Down -10%
Vs. Year Ago
Down -79%
Vs. Year Ago
Up 4%
Vs. Year Ago
Down
Vs. Year Ago

Units Sold
The number of units sold remained stable in March, with 26 sold this month in Southbridge Real Estate. This month's total units sold was lower than at this time last year, a decrease of 13% versus March 2020.

Active Inventory
Versus last year, the total number of homes available this month is lower by 41 units or 79%. The total number of active inventory this March was 11 compared to 52 in March 2020. This month's total of 11 is lower than the previous month's total supply of available inventory of 17, a decrease of 35%.

Median Sale Price
Last March, the median sale price for Southbridge Homes was $450,000. This March, the median sale price was $467,000, an increase of 4% or $17,000 compared to last year. The current median sold price is 3% lower than in February.

Median sale price is the middle sale price in a given month. The same number of properties are above & below the median.


New Listings
34
Current Contracts
30
Sold Vs. List Price
101.4%
Months of Supply
0.4
Down -13%
Vs. Year Ago
Down -6%
Vs. Year Ago
Up 0.6%
Vs. Year Ago
Down -77%
Vs. Year Ago

Months of Supply
In March, there was 0.4 months of supply available in Southbridge, compared to 1.8 in March 2020. That is a decrease of 76% versus a year ago.

Months of supply is calculated by dividing current inventory by current sales. It indicates how many months would be needed to sell all of the inventory available at the current rate of demand.

New Listings & Current Contracts
This month there were 34 homes newly listed for sale in Southbridge compared to 39 in March 2020, a decrease of 13%. There were 30 current contracts pending sale this March compared to 32 a year ago. The number of current contracts is 6% lower than last March.

Sale Price to List Price Ratio
In March, the average sale price in Southbridge was 101.4% of the average list price, which is 0.6% higher than at this time last year.

Days on Market
This month, the average number of days on market was 6, lower than the average last year, which was 39. This decrease was impacted by the limited number of sales.

The Long & Foster Market Minute Southbridge are defined as properties listed in zip code/s 22026.
*Detached, Attached, and Condo varies by local area Multiple Listing Service (MLS) definition. For more information regarding your specific market, contact one of Long & Foster's knowledgeable and experienced sales associates.
REALTOR, Equal Opportunity HousingInformation included in this report is based on data supplied by BRIGHTMLS and its member Association(s) of REALTORS, who are not responsible for its accuracy. Does not reflect all activity in the marketplace. Information contained in this report is deemed reliable but not guaranteed, should be independently verified, and does not constitute an opinion of BRIGHTMLS or Long & Foster Real Estate, Inc.