The year might have started off a little slow for Canton MA home sales, but it appears to be heating up in the second quarter. Home prices have begun to inch their way up. Let's see what happened in Canton MA home sales between April and June 2014.
A total of 59 Canton MA homes were sold in the second quarter of 2014. That is the exact same amount that were sold at the same time last year. But that is where the similarities end. The homes sold during this time ranged from a 3 bed/1 bath, 936 square foot HUD home that sold for $163,500 all the way up to a 5 bed/4.5 bath, 4000 square foot Algonquin Estates home that sold for $1,170,000. Twenty of the 59 total Canton MA homes sold went for at or above the listing price, a full one-third of the total homes sold during this time.
The average sale price for a Canton MA home was $555,458, 12.6% higher than the second quarter of 2013. The majority of second quarter home sales were in the $500,000 range. This was also the price range that had the most homes sold at or above listing price. The average list price to sale price increased by 1% (97% in 2013 to 98% in 2014). The average days a Canton MA home spent on the market before going to contract decreased as well, from 115 in 2013 to 94 in 2014.
Prices have continued their steady rise. Does this mean that Canton MA home buyers will be seeing the return of skyrocketing prices and multiple offer battles? I wouldn't go that far. Just make sure that you have done your homework, have your lender approval letter in hand and have contacted your Canton MA Buyer Broker to help you negotiate a great deal when you are ready.
*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.
Christine Smith, Buyers Brokers Only LLC - Your Exclusive Buyer Agent in Norfolk County
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