The Stoughton MA real estate market experienced a bit of a slow down last month. While August 2014 saw more sales than July did, the total number sold was much lower than the same time last year. Good news for Buyers, though. The average home price came down significantly from last year. Here is a brief synopsis of what we saw last month:
According to the MLS Property Information Network, a total of 25 homes were sold in Stoughton MA. That was a 31.5% increase from the total sold in July 2014 but a 34.2% decrease from the same time last year. At the lower end of the spectrum, a 3 bed/1 bath 990 square foot Cape-style home sold for $170,000 after just one day on the market. This was $5100 over the list price, too. At the upper end of the spectrum, a 3 bed/2 bath 2500 square foot Contemporary home on a cul-de-sac sold for $380,500.
Here is the good news for Stoughton MA Home Buyers. The average sale price has decreased 16.4% since the same time last year. While August 2013 sales figures saw the highest average in the last five years ($345,287), last month was the lowest in the last five years ($288,608). The list-price-to-sale-price ratio remained exactly the same at 98%. Of the 25 Stoughton MA homes sold last month, 9 went for at or above list price and 8 sold after 30 days or less on the market. The majority of homes sold in August 2014 were purchased in the $300,000 to $349,000 price range.
What does this mean for Stoughton MA Home Buyers? Now is a great time to buy! Less homes sold at lower prices means that Sellers are ready to deal. We're coming up on the slower end of the real estate season. With holidays approaching, many Buyers tend to put their home searches on hold. Take advantage of the low prices, low interest rates and lower competition. Talk to your Stoughton 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.
Christine Smith, Buyers Brokers Only LLC - Your Exclusive Buyer Agent in Norfolk County
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