Cohasset home sales report for June, 2013
15 single-family homes sold in Cohasset in June.
SALES price was $962,000
LISTING price was $1,011,000
ORIGINAL price was $1,056,000
ASSESSMENT was $837,000
- Average = total prices / number of homes
SALES price was $1,000,000.
LISTING price was $1,075,000
ORIGINAL price was $1,075,000
ASSESSMENT was $1,010,100
- Median = the home halfway down the list
The average number of days on market was 155
The average price paid per square foot was $301
Look how close the sales prices are to the last listing price before the sale. After an initial price adjustment of about 4%, the average home then sold for about 95% of its asking price.
There are 85 single-family homes on the market in the four CHiNS towns today. There's now less than 6 months of inventory, although 20 new properties came on the market in June. With 15 sales in June, that means there's slightly more inventory now than there was at the beginning of the month.
The big news last month was the spike in mortgage interest rates. Instead of thinking that rates are "in the 3 percent range", we are suddenly talking about rates in the 4 1/2 percent range. That increases the monthly cost of a mortgage by 5-10%, and decreases buyers' purchasing power by about the same amount. Instead of being able to borrow $380,000, for example, the same monthly mortgage payment only gets you a $348,000 mortgage. That's a loss of purchasing power of $32,000.
In Cohasset, buyers are buying, and sellers are selling, great homes at very good prices. A few of the most desirable homes are attracting multiple offers, but most sellers have their homes are on the market for over a month before they find a buyer.
Sellers need to be wary of overpricing. Sellers can readily sell their home now as long as the price gives buyers a good value compared to similar homes already on the market.
Contact me to sell your home or to arrange a private showing of any home for sale in Cohasset.
View all the homes for sale on the South Shore at Cohasset Homes for sale.
Numbers rounded to nearest thousand. The information contained in this Cohasset home sales report for June, 2013, was taken from MLS Data run on 07/03/2013 and represents all single-family sales in Cohasset from 06/01/2013 to 06/30/2013. It is deemed reliable but cannot be guaranteed. If you, as a seller or as a buyer, are currently under a written contract to use another broker exclusively then please disregard this notice. It is not our intention to solicit other real estate broker’s clients. We are happy to work with them and cooperate fully. ©2013 Coldwell Banker Real Estate LLC. Coldwell Banker is a registered trademark licensed to Coldwell Banker Real Estate LLC. An Equal Opportunity Employer. Equal Housing Opportunity. Owned and operated by NRT, LLC.