Wow! May was a hot month in Canton MA home sales. Even though the average sale price increased significantly, the total number of homes sold skyrocketed. People are clamoring to own their own piece of Canton MA and here's why.
A total of 18 Canton MA homes were sold during May 2014. That is slightly more than the 17 sold at the same time last year and a whopping 125% more than last month (when just eight homes were sold). These homes ranged in size and price from a 3 bed/1.5 bath 1273 square foot Ranch-style home for $290,000 (which sold in just 11 days, by the way) to a 5 bed/4 bath 4476 square foot Contemporary-style home on 1.33 acres of land which sold for $1.1M.
The average sales price for a Canton MA home was $580,183, an amazing 25% from the same time last year. However, there were no $1M+ homes sold in May 2013. So, if you take that one out of the equation and recalculate the average price, it still increased significantly (18.5%) to $549,606. The list price to sale price ratio increase slightly as well, from 97% in May 2013 to 98% in May 2014. In fact, six of the 18 homes sold last month went for at or above the list price.
So, what does this mean for the Canton MA home buyer? It looks like you've got some stiff competition. Now that the weather has begun to heat up and we're out of that winter blast that actually lasted into the spring, buyers are looking to purchase homes. It's the busy season. Get yourself pre-approved for a home loan and contact your Canton MA Buyer Broker today.
*All data used in this blog post is courtesy of the MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in those numbers.