2011 Real Estate Market Statistics for Canton MA
The single family home market in Canton MA saw some decreases this year. The average sales price of single family homes in Canton decreased by 3% since 2010, while the total number of single family homes sold decreased by 9%.
The overall absorption rate is slightly more than 12 months. This is the amount of time it would take to sell the current inventory of homes if no new homes came on the market. In a future post, I will discuss the absorption rate in different price categories. With inventory taking this long to sell it is important that sellers position their homes properly to sell.
The largest number of homes sold in Canton MA continues be in the $300,000 price range. This year, there was a significant increase in the number of homes sold in the $700Ks, and a sharp drop off of over 50% in sales of homes priced in the $600Ks. In all other price categories, the number of homes sold have stayed much the same since 2010.
There was a huge drop of 56% in the sale of new construction homes in Canton MA in 2011 down to 10 homes sold compared to the 23 new construction homes sold in 2010. Of the 127 single family homes sold and listed in the Multiple Listing Service in 2011, approximately 5.5% of those homes were sold as short sales or foreclosures.
Here is a comparison chart for the past 3 years of single family homes sold in Canton MA. This information is from the Multiple Listing Service and does not include homes that may have been sold privately. I will be writing about the 2011 condominium market in Canton MA in a separate blog.
If you're thinking of selling your home in Canton MA, call me at 781-253-3385 to schedule a market analysis of your home.
Wishing you a happy, healthy, peaceful New Year!
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