I recently wrote a market report for the 2012 Stoughton MA Real Estate Market. That report contained data for the past five years for Stoughton MA.
A reader asked me if I could write about market trends over the past ten years. Having bought her house approximately 10 years ago, she wanted to know where the market stood now in relation to when she purchased her home. So, by request, here are the Ten Year Market Trends in Stoughton MA.
2012 was not that far off from 2002. In 2012, there were 200 single family homes sold in Stoughton MA*. In 2002, that number was 220. In 2012, the average sales price for a single family home in Stoughton MA was $296,529. We're not quite back there yet - in 2012 the average price was $271,640.
Below is a chart showing average sales prices from 2002 through 2012 for single family home sales in Stoughton MA. You can see the increase in prices, followed by the drop off. Prices have stabilized but have not yet started to really head back up.
In terms of number of homes sold, here is a chart showing total single family home sales in Stoughton over the past ten years. You can see the trends pretty well match the price trends from above. However, while average price is holding steady, total number of sales is increasing.
While I can only look at average prices in a market report, the outlook for any particular home depends on many things - such as size of house, condition, location and inventory.
The one thing to keep in mind is that right now inventory is low. As of January 22, 2013, there are only 49 single family homes listed as active in the MLS for Stoughton MA. Ten of those have accepted offers but are waiting out contingencie before being marked as under agreement. That essentially leaves only 39 single family homes currently for sale. Time will tell how that inventory will affect single family home prices in Stoughton.
A well-maintained home in good condition that has a favorable location and that is priced right should sell quickly in this market. Buyers are out looking but there is not a variety of homes to choose from.
The only way to know how your particular home will fare in this market is to have an experienced local REALTOR do a comparative market analysis for you. As an exclusive buyers agent, I do not handle listings. However, I would be happy to refer any potential seller to a great local agent.
If you are looking to buy a home in Stoughton MA, contact your Stoughton MA Buyer Broker for homes for sale in Stoughton MA.
*All data taken from MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in this data.
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