August 2011 Real Estate Market Report Sharon MA 02067
In August, 28 single family homes sold in Sharon MA. That's the largest number of single family homes sold in any month so far this year. Let's look at what that number represents.
While more homes sold this month, the average sale price for homes dropped almost 18% since July from an average sale price of $496,413 down to 408,709. This is a 12% decrease compared to the average sale price in August 2010 of $464,993.
Almost all of the homes sold in August came on the market since March 2011.That means that they were listed during the months when there is traditionally the most real estate activity.
However, 13 of the homes were priced so far above their market value that they had to reduce the list price before receiving an offer. It's not surprising, therefore, that the average number of days these homes were on the market was 94 days compared to an average of 71 days in July. July was also one of the strongest months so far this year in Sharon, both in terms of the number of houses sold and the average sale price.
The longer a home sits on the market, the more likely it is that the seller will have to reduce the price in order to sell the home. Consider the highest priced home that sold this month sold for 83% of its original list price, after more than 300 days on the market. Compare this to the average sale price to list price ratio of 95.6% for the rest of the homes sold in August.
Here's more information about the houses sold in August in Sharon MA:
7 houses sold under $299,999
9 houses sold between $300,000 to $399,999
4 houses sold between $400,000 to $499,999
5 houses sold between $500,000 to $599,999
2 houses sold between $600,000 to $699,999
1 house sold between $800,000 to $899,999
3 versus 4 bedroom homes: Most of the homes sold were either 3- or 4-bedroom homes. The average sale price for the 13, 3-bedroom homes sold in August was $341,842. Most of these 3-bedroom homes were built in the 1950s and 1960s and are under 2,000 square feet of living space. The average sale price for the 12, 4-bedroom homes sold in August was $511,367. Most of these 4-bedroom homes were built since the mid-1970s and range between 2,000 square feet to 4,000 square feet of living space.
If you want to sell your home in Sharon MA, it is critical that you understand the market value of your home and price it correctly. When you're ready to sell your home, call me at 781-253-3385 for a free market analysis.
My focus is the Sharon real estate market. I grew up in Sharon, and live and work here now. As your "hometown" Realtor, I'll put my knowledge of the Sharon real estate market to work for you whether you are buying or selling a home in Sharon MA.
Click here to review the real estate market statistics for Sharon MA from January through July 2011.
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