December 28, 2017

Home prices in three MetroWest communities hit $600K in November

Flickr/Mass. Office of Travel and Tourism
The Natick Mall. Natick's single-family home prices stood out in MetroWest in November, with a 39-percent year-over-year increase, to $680,000.

Single-family home prices rose in November, most drastically in Westborough, Natick and Southborough, according to data from The Warren Group.

Natick claimed the highest median home prices of MetroWest's largest communities, hitting $680,000 last month. Prices also topped $600,000 in Westborough and Southborough, with those communities joining smaller, wealthier communities that have already surpassed that amount, including Sudbury and Wayland.

Natick has one of the area's highest home price increase for the year, rising by 8.2 percent. Among the larger communities, only Milford's increase, at 8.4 percent, was higher. Prices remain much lower in Milford, however, at $330,000 in November.

In Framingham, prices rose slightly to $415,000 in November, and are up 6.4 percent year-to-date. In Northborough, prices rose to $385,000, an increase of 6.9 percent from the previous November and 6.4 percent for the year.

Price increases were smaller in Hudson, where prices fell year-to-year for November by 6.4 percent to $371,000. For 2017, Hudson prices are up only 1.9 percent.

In Hopkinton, prices for November rose by 12.3 percent to $589,500, but prices for the year have fallen by 0.8 percent.

Statewide, the average single-family home price rose by 5.7 percent in November to $369,000.

The rate of sales, on the other hand, has slowed thanks to a small inventory.

Statewide, the number of single-family home sales has risen only by 0.4 percent for the year. In MetroWest, the number of sales has fallen so far this year in Natick, Southborough, Westborough and Hopkinton. They are up most sharply in Framingham, Milford and Ashland, where the number of sales are each up more than 12 percent.


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