2014 Year End Real Estate Market Report for Sharon MA
The real estate market for single family homes in Sharon MA finished 2014 with shrinking inventory and a higher Average Sales Price than ever before. In 2014, a total of 188 single family homes sold in Sharon; the smallest real estate market in Sharon since 2011. Houses sold at a much faster pace this year, with an Average Days on Market of 35, compared to 48 in 2013.*
Single family houses sold in prices ranging from $180,000 for a 2-bedroom, 1 bathroom "Handyman Special" to $1.8 Million for Stoneholm, a 19th century mansion on the National Historic Register, which has since had its property subdivided in 6 lots. The Average Sales Price rose to $532,817, a 2% increase over the Average Sales Price of $521,750 in 2013.
With the low inventory and high buyer demand, the Sharon market continued to be a Sellers' Market. Multiple bids pushed sales prices above list price for 25.5% of the 188 single family homes sold. Another 10% sold at list price. This was a fairly close reflection of single family home sales in 2013, with 27% selling above list price and 13% selling at list price that year.
What About New Construction?
Sales of new construction single family homes were down 41% in Sharon from a high of 17 sold in 2013 to 10 in 2014. However, the Average Sales Price of new construction jumped 9% to $776,876 from the Average Sales Price in 2013 of $711,480. (These numbers are included in the overall number of houses sold and the overall Average Sales Price of homes sold in Sharon).
Changes in the Sharon MA Real Estate Market Since 2011
The last two years represent a sharp change from the previous two years. In 2011 and 2012, the Average Sales Prices were $450,514 and $449,166, respectively. In 2011, there were 164 single family homes sold. These numbers increased 27% to 209 sold in 2012. In 2013, that number jumped another 18% to 247 homes sold, making that the largest sales market of single family homes sold in Sharon MA as recorded in the Multiple Listing Service.
What Caused These Increases in Sales and Average Sales Prices?
In 2011, we started to see historically low interest rates. In the next two years, consumers started to have more confidence in the job market. Those are two of the factors that led to increased sales in 2013 and 2014.
What Attracts People to Sharon?
In 2011, Sharon High School was awarded the National Blue Ribbon Schools award by the U.S. Department of Education. It was one of only two schools in Massachusetts to receive the award, and one of 315 schools nationwide.
In 2014, Money Magazine named Sharon the Best Small Town in the U.S. Sharon schools have always had a great reputation and many people choose to move here for that reason.
Our great location off of I-95 and between the two major beltways in Massachusetts, plus our commuter rail to Boston and Providence, RI makes Sharon a great location for commuters. The beautiful natural resources from Lake Massapoag with its two public beaches and private yacht club, to the Moose Hill Wildlife Sanctuary make Sharon a beautiful place to come home.
Thinking of Selling Your Home?
Call or text Nina Rogoff at 781-883-3764 for a FREE, no obligation market analysis of your home. My detailed report will give you the information you need so we can price your home to sell for the greatest amount of money in the shortest amount of time.
If you have any questions about this post, please write them as a comment. I will write back with more information!
Read More About Sharon MA Real Estate Market:
December 2014 Real Estate Market Report for Sharon MA
How Do You Negotiate in a Sellers' Market in Sharon MA
A Home Inspection Report Doesn't Mean You Have to Run for the Hills
* All of the housing information comes from data as listed in the Multiple Listing Service Property Information Network and does not include any homes that may have been sold privately.
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