2023 was a big year for single family home sales in Hopkinton. 265 homes were sold – 77 more than in 2022 – accounting for $450,523,398 in total dollar volume, an increase of $74,267,772 over the previous year. Kim Foemmel of Foemmel Fine Homes again led the way, slightly edging out The Macchi Group. In spite of rising inflation and interest rates, the Hopkinton housing market remained active and strong, with a high demand for single family homes.
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Wow, that means the average home sale price was $1,700,000 in 2023, so to put down a 20% down payment, the buyers had to come up with $340,000 and then still mortgage $1,360,000. These numbers are staggering to me.
These figures seem off. According to the Warren Group, a total of 292 home sales occurred in Hopkinton in 2022 (191 single family and 101 condominiums). It has been widely reported that home sales have generally been down across the state in 2023. It is stated above that 265 home sales occurred in 2023 which would mean a decline of 27 over 2022 (not a gain of 77). Am I missing something? What is the source of the sales figures you provided?
The data was sourced from the Multiple Listing Service. Note the time period and filters selected at the top, and the total listings and unit dollar volume. We can’t speak to what the Warren Group used.
I assume they use public sales records, but am not sure?? It is interesting that Hopkinton saw such a large increase (+40%) in year over year sales when it has been reported elsewhere that MA, as a whole, is seeing a decline in home sales. That is noteworthy and I am surprised that we haven’t seen it reported on more broadly as to how Hopkinton has experienced robust sales year over year.