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9 Foxborough, MA Real Estate Market Statistics to Know

Jun 2, 2022 3:27:05 PM

Foxborough, Massachusetts, located in Norfolk County and about 30 miles southwest of Boston, experienced a drop in home sales, fewer closed transactions, and rising home prices in April 2022 on a year-over-year basis. 


Couple sitting on sofa with their pet dog in their new houseThe data for the following statistics about the Foxborough real estate market comes from the Massachusetts Association of Realtors and MLS Property Information Network, Inc.

1. The median price of a single-family home in Foxborough rose 21 percent last month to $789,900 from $655,000 in April 2021. From January through April, the median house price rose 16 percent to $671,000 compared to $576,250 during the same four months last year.

2. There were just nine houses sold in Foxborough in April, a 47 percent plunge from 17 sales in April 2021. Through April, single-family home sales fell by 42 percent to 29 from 50 closed transactions during the first four months of 2021.

3. Similar to other Greater Boston suburbs in the spring of 2022, Foxborough had few homes available for prospective homebuyers. There were six single-family houses on the market in April, a 54 percent decline from 13 in April 2022. In April 2017, there were four times (24) as many houses for sale.

4. The months of supply of inventory decreased 44 percent from 0.9 to 0.5, meaning if no new listings came on the market, there would be no available single-family homes in Foxborough in about two weeks. About six months of inventory is considered a balanced market between home buyers and sellers.

5. Homebuyers paid on average 104 percent of the original list price for houses in April and 102 percent from January through April. In April 2017, homebuyers paid 98 percent of the original list price and 99 percent during 2017's first four months.

 

RelatedThe Steps to Buying a Home in Massachusetts

 

6. Condominium prices increased 29 percent to $562,500 in April compared to $435,000 in April 2021. From January through April, the median condo price rose 13 percent year over year.

7. There were four condominiums sold in April and six in April 2021. Through April, homebuyers purchased only six units.

8. The number of condominiums available in April fell 75 percent to just one in April, and the number of months of inventory dropped 56 percent to 0.4 months. There were 10 times as many available units in April 2017.

9. On average, homebuyers paid 106 percent of the original list price for condos in April and 104 percent during the first four months of 2022.

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Topics: Real Estate Market, Community Information, Massachusetts Home Prices, Foxborough MA

   

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