Much like our temperatures, sales of Stoughton MA homes were down last month. This does not come as a big surprise when you consider that the end of the year is traditionally a slow time in real estate sales. What exactly does the Stoughton MA home sales report for November 2014 mean for home buyers?
The MLS Property Information Network reported that there were a total of 19 Stoughton MA homes sold in November 2014. This was 36.7% less than October 2014 and 29.6% less than the same time last year. However, as you can see from the graph above, it appears to be right in line with previous years' total sales in November. A Stoughton MA Home Buyer purchased a 2 bed/1 bath, 1056 square foot Bungalow built in the 1900's for $145,000 during November 2014. On the flip side, someone else purchased a 4 bed/2.5 bath, 2816 square foot Colonial on the Sharon line for $541,750.
Buyers will be very happy to hear that the average sale price of a Stoughton MA home decreased 15.5% from the previous year ($345,610 in November 2013 vs $291,961 in November 2014). The average days a home was on the market before going under contract decreased as well (from 82 last year to 77 last month). The list price to sale price ratio also decreased from 98% in 2013 to 96% last month.
What does this all mean for the Stoughton MA Home Buyer? Prices have definitely come down. However, the history of sales in Stoughton MA shows that this can change quickly. Interest rates remain at extremely low levels. It is the end of the year. If your goal is to purchase a new home this winter, now is as good a time to make a deal as any. Contact your Stoughton MA Buyer Broker today to get started!
*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.