The number of single family homes sold in the City of Brockton in the third quarter of 2013 came in at 163. This figure increased from 151 in Q3 2012. More significantly, the average price of those homes was $190,944. compared to $165,510 from the same period in 2012. These homes also sold more quickly than last year by 29 days. The figure are based on MLS data and may not include private sales.
In analyzing the data, however, the biggest determing factor in this increase was the fact that there were far fewer 'distressed' homes sold this year than last. That is, homes that were priced below $125,000. dropped to 18 from 40 in 2012. Many of these are not habitable and cannot get bank financing. They are often sold to contractors for cash, rehabbed and then resold at a profit.
This activity helps our City in many ways. It takes eysore properties, which usually don't produce tax revenue, and returns them back onto the market for sale to homeowners who have a vested interest. The new homeowner takes care of the property, blends into the neighborhood and contributes to the tax base. Everyone wins!!!
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