Homes for Sale in Hopkinton & Real Estate

Hopkinton, Massachusetts, is experiencing a robust and competitive real estate market, characterized by strong price appreciation and high demand. Here’s an overview of the current market conditions and key considerations for buyers:

Price Appreciation and Market Trends

Hopkinton’s housing market has shown significant price appreciation over the past year. The median home value in Hopkinton is $863,937, reflecting a 7.0% increase from the previous year. This upward trend is even more pronounced in certain segments of the market, with 4-bedroom homes seeing an 11.8% increase and 5+ bedroom homes experiencing a 13.2% rise in prices.

The market remains highly competitive, with homes receiving multiple offers and often selling above list price. On average, homes in Hopkinton sell for about 4% above list price and go pending in around 16 days. Hot properties can sell for up to 8% above list price and go pending in as little as 5 days.

  • Homes for Sale

    As of May 2024, there were 71 homes for sale in Hopkinton, representing a 4.1% decrease from the previous month. The inventory breakdown by bedroom count is as follows:
    – 2 bedrooms: 17 homes – 3 bedrooms: 14 homes
    – 4 bedrooms: 36 homes – 5+ bedrooms: 4 homes

    It’s worth noting that there’s a particular shortage of homes in the $500,000 – $1,000,000 price range, with only 3 listings available in this segment as of March 2023.

Homes for Sale in Hopkinton

What Buyers Should Consider

  • Competitive Bidding: With 79.2% of homes selling above asking price, buyers should be prepared for competitive bidding situations. Having pre-approval and being ready to act quickly is crucial.

  • Limited Inventory: The low inventory, especially in certain price ranges, means buyers may need to be patient and act decisively when the right property becomes available.

  • Price per Square Foot: The median price per square foot in Hopkinton is $337, which can help buyers gauge the relative value of properties they’re considering.

  • Seasonal Trends: Spring tends to be a popular time for listings in Hopkinton, potentially offering more options but also increased competition.

  • New Construction: Buyers interested in new homes should be aware that these properties often have longer listing periods, as they’re typically listed before construction is completed.

  • Interest Rates: While higher interest rates have affected some markets, Hopkinton appears to be maintaining strong demand despite rates hovering near 7%.

  • School Districts: Hopkinton is known for its quality schools, which can be a significant factor in home values and demand.

Benefits of Buying a House/Condo in Hopkinton

  • Strong Community: Hopkinton offers a welcoming community and top-rated schools, making it an excellent choice for families.

  • Convenient Location: Situated near major highways and the commuter rail, Hopkinton provides easy access to Boston and surrounding areas.

  • Recreational Opportunities: The town boasts beautiful parks, trails, and proximity to Hopkinton State Park.

  • Stable Appreciation: Hopkinton’s real estate consistently appreciates, offering strong investment potential.

Benefits for Investors

  • High Rental Demand: With its quality schools and proximity to Boston, Hopkinton attracts tenants seeking long-term rentals.

  • Consistent Appreciation: The town’s real estate market has shown steady growth, making it a reliable investment choice.

  • Diverse Opportunities: Investors can explore single-family homes, condos, and new constructions in a competitive market.

Best Real Estate Agents in Hopkinton

Navigating Hopkinton’s competitive real estate market requires local expertise. The best real estate agents in Hopkinton understand market trends, have strong negotiation skills, and provide personalized service to meet your needs. At Key Prime Realty, we pride ourselves on offering unparalleled guidance and support to our clients.

Hopkinton MA Real Estate Market Report

Best Real Estate Agents in Hopkinton MA

At Key Prime Realty, we bring unparalleled expertise in the Hopkinton real estate market. Here’s why clients trust us:
– Proven track record: Years of experience with buyers and sellers in the Greater Boston area.
– Tailored solutions: Personalized strategies to meet your unique goals.
– Comprehensive support: From initial consultation to closing, we guide you every step of the way.
– Local expertise: Deep knowledge of Walpole’s neighborhoods and market trends.

Let us help you find the perfect house for sale in Hopkinton, MA, or maximize the value of your investment property. Contact us today to get started!

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30 Eastbrook Rd, Dedham, MA 02026, USA.

FAQ Section

What is the average price of homes in Hopkinton, MA?

The median home value in Hopkinton is $863,937, with price appreciation trends showing strong growth over the past year.

Are there condos for sale in Hopkinton?

Yes, there are several condos for sale in Hopkinton, MA, offering options for buyers seeking lower-maintenance living.

How competitive is the Hopkinton real estate market?

The market is highly competitive, with homes receiving multiple offers and often selling above the asking price.

What types of homes are available in Hopkinton?

Hopkinton offers a mix of single-family homes, new constructions, and condos, catering to diverse buyer needs.

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