There continues to be a marked improvement in Stoughton MA home sales in May 2014 when compared to last year. This is good news for both buyers and sellers. Prices remained almost the same. However, the days a home spent on the market was much less than the same time last year. Here's a quick recap of the Stoughton MA home sales report for May 2014.
There were a total of 18 Stoughton MA homes sold in May 2014. This is the exact same amount as was sold in May 2013. The average sales price increased by a slight 1.5% (from $315,627 in May 2013 to $320,375 last month). These homes ranged from a 3 bed/1 bath 1304 square foot Cape-style fixer upper that sold over list price for $179,100 in just nine days to a 4 bed/2.5 bath 3364 square foot Colonial in Stoughton's premier The Preserve at Pheasant Hill neighborhood that sold for $489,900 in just 22 days. Seven of the 18 Stoughton MA homes sold last month had a final sales price over listing price. Several more sold for less than 1% under the listing price.
The average days a Stoughton MA home spends on the market has gone down dramatically over the past year. In May 2013, the average home sat on the market for 117 days before it sold. Last month, however, the average days on market was just 50. That's even less than the 54 average days on market from just last month. And as I stated above, some of these homes spent well under one month on the market. The list price to sale price ratio increased a slight 1% from the same time last year (97% in March 2013 to 98% in March 2014).
The local real estate market is looking great for Stoughton MA home buyers. Prices have remained pretty steady year-over-year. Homes spend a lot less time on the market. This is good for buyers in the sense that you will get into your new home quickly. But it also indicates that there could be a bit of competition out there, especially with so many homes going for close to or over the listing price. So, you'd better bring your "A" game to the table. When you're ready to start looking for your next home, contact your Stoughton MA Buyer Broker to help you navigate through it all.
*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.