Is it just me or has Mother Nature been especially brutal this winter season? According to the National Weather Service, Boston has already surpassed its highest annual snowfall record by 1". And there appears to be more coming. While that has hindered some Stoughton MA Buyers a bit, homes are still being purchased. Here is your Stoughton MA Home Sales Update for February 2015.
According to the MLS Property Information Service, a total of six Stoughton MA homes were sold in February 2015. That is a 40% drop from the same time last year and the lowest since 2011, which also happens to be the last time we were hit with record amounts of snow. One Buyer braved the winter weather to purchase a 3 bed/1 bath, 1424 square foot ranch-style home near Crescent Ridge Dairy Farm for just $254,000. They even paid $14,000 over the list price for it after it spent just 14 days on the market! Another Buyer managed to scoop up a great 3 bed/1.5 bath, 1792 square foot ranch home in a desirable neighborhood for $310,000. This was $10,000 over list price after spending just 21 days on the market.
Just like total sales, the average sale price has experienced a reduction. The average Stoughton MA home sale price was $282,400 in February 2015. This is an 8.2% drop from the same time last year. The average days a home was on the market before receiving an offer was 22 last month, which was 60.7% less time than last year. Half of the homes purchased in February 2015 sold for at or above the listing price, which the remainder selling very close to it.
How does this affect the Stoughton MA Buyer? Prices are lower right now, but Sellers are getting close to or more than their asking price. Contact your Stoughton MA Buyer Broker to determine a fair yet strong offer. Interest rates remain below 4% for a 30 year fixed rate loan. However, there are rumblings that the Fed is considering a rate increase in the near future. If you are really interested in purchasing a home, you might want to act sooner rather than later. When the Northeast begins to thaw, Buyers will be out in droves looking for properties. As I've said before, if you're willing to trudge through the snowfall to look at homes, I am more than willing to be right by your side throughout the process. Contact me 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.
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
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