2013 Year-End Real Estate Market Report for Sharon MA
The Sharon MA real estate market was "wild and crazy" in 2013. Low inventory, high demand, crowded open houses, multiple offers, concerns about whether homes would appraise, historically low interest rates...whew! That's a lot going on at one time!
According to the multiple listing service, MLSPIN, 247 single family homes sold in Sharon MA in 2013. That is the most single family homes sold in Sharon in one year, topping last year's high by 18%.
Here's a year-to-year comparison showing the growing Sharon MA real estate market since 2000:
New Construction Growth
Of those 246 homes sold in Sharon, 17 (or 7%) were new construction. This is the largest number of new construction in Sharon in the past 13 years. The average sale price of these new construction homes was $712,950 contributing to an overall 2013 average sale price in Sharon of $521,750.
This is the first time the average sale price has risen above $500,000 in Sharon MA. It represents a 16% increase in average sales price from 2012. Even without including those higher priced new construction homes in averages for 2012 and 2013, the average sales price in Sharon still rose by 18% from 2012 average sale prices.
Sharon MA is a great place to buy a home
Those of us who live here have always known it's a great place to live and raise a family. The interest in buying a home in Sharon MA comes from a number of factors.
Money Magazine announced that Sharon MA is the #1 Best Small Town in America, but that information wasn't announced until August. We had already been on track for our strongest market long before then.
Every town and city is its own unique real estate market. In Sharon, demand for housing has always been fueled by the reputation of the Town of Sharon. The quality of the public school district; diversity of our community; the warm, small town feeling; beauty of our natural resources, and great commuter location... are just a few of the factors!
The median sale price of homes in Sharon was nearly 50% higher than that of the overall Massachusetts housing market, according to data from the Warren Group, a company which publishes New England real estate news and financial information.
Historically low interest rates ranging from the low 3% to the mid 4% certainly drove buyer interest.
What's head?
Interest rates are still low but the new lending law restrictions as of January 10 may prevent some buyers from getting a mortgage, particularly for higher priced housing. If this results in a decrease in demand, sellers will have to be even more careful to price their home according to market value and not according to last year's trend.
Thinking of Selling Your Home?
There are only 21 single family homes currently for sale in Sharon MA. The freezing weather is making most people feel like hibernating! If you are thinking of selling your home in Sharon this spring or summer, there are many things to do to start preparing your home for sale. Give me a call at 781-883-3764 for a FREE Market Analysis of your home and the information to help you get started!
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