While June 2014 home sales in Canton MA heated up, they seem to have cooled off a little in July. Total home sales dipped slightly from the same time last year, but home prices are up. Let's see what the July 2014 Canton MA home sales report says.
A total of 18 Canton MA homes were sold in July 2014. This is 10% less than the 20 that were sold in July 2013. These homes ranged from a 4 bed/1 bath 1739 square foot Bungalow that sold for $299,900 all the way up to a 4 bed/3.5 bath 5064 square foot Cape style home that sold for $920,000. A 3 bed/1 bath split entry home in Wampatuck Estates sold for $350,000 (the list price) in just 8 days!
The average sales price for a Canton MA home increased 16.4% in July 2014 (from $466,665 in 2013 to $543,128 in 2014). Seven of the 18 homes sold in July 2014 went for at or above the listing price. The average sale-price-to-list-price ratio decreased slightly: from 99% in 2013 to 98% in 2014. The average days a Canton MA home spent on the market before it went to contract went from 35 in July 2013 to 51 in July 2014.
What does all this mean for the Canon MA home buyer? Consider this: in June 2014, year-over-year prices increased 6.1%. In May 2014, sale prices had increased a whopping 25% from the previous year. This appears to indicate that Canton MA home prices are steadily increasing. Sellers appear to be getting close to what they are asking for, if not more. You need to work closely with your Canton MA Buyer Broker to make sure you have a strong offer ready when you find the house you want to purchase.
*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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