Winter weather hit the East Coast hard, especially in our neck of the woods. I didn't think we would ever get out from underneath that record snowfall! This had a serious effect on our local real estate market as well. It looks like we are beginning to dig our way out, though. Let me explain in my Sharon MA Home Sales Report - 1st Quarter 2015.
According to the MLS Property Information Network, a total of 25 Sharon MA homes were sold between January 1st and March 31st of this year. That is a 19% increase over the same time last year. Each month of this calendar year, sales seem to be growing from the previous year's totals. For example, January 2015 sales were exactly the same as January 2014. However, they increased 20% in February and saw a 37.5% increase in March. This could be the start of a very busy Spring!
The average sale price for a Sharon MA home in the 1st Quarter of 2015 was $588,041. That was a 10.7% increase over the first quarter of last year. A 3 bed/1 bath, 1092 square foot ranch-style home situated on just under one acre of land sold for $305,000. At the upper end of the sales spectrum, a 5 bed/3.5 bath, 4960 square foot Contemporary Colonial located on 1.87 acres of land sold for $1,305,000.
What does this mean for the Sharon MA Buyer? If you are looking for land, Sharon MA homes have it. And you will not necessarily have to pay an arm and a leg to own it either. At the beginning of the year, financial experts predicted that we could see interest rates get as high as 5% by the end of 2015. The Federal Reserve announced earlier this year that they might be raising interest rates around June, depending on the state of the economy at that time. If you want to purchase a home on a decent sized parcel of land before interest rates start to rise, you will need to start looking now. Contact your Sharon MA Buyer Broker to begin your search today.
Learn more about Sharon MA in the Sharon Real Estate & Community Guide.
*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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