The unusually cold weather we experienced late into the new year in the Northeast definitely had an impact on the 2nd quarter 2014 sales of Stoughton MA homes. Even so, buyers still seem pretty eager to own a property in this affordable neighborhood.
There were a total of 60 Stoughton MA homes sold from April 2014 to June 2014. That's a 6% decrease from the same time last year. These homes ranged from a 2 bed/1 bath, 1320 square foot Bungalow that went under contract after just five days on the market and sold for $101,000 ($1,100 over list price) all the way up to a 4 bed/2.5 bath, 3357 square foot Colonial that sold for $570,000. The average sale price for a Stoughton MA home sold in the 2nd quarter of 2014 was $324,956, a 5% increase from last year. Of the 60 homes sold, 24 of them actually ended up selling for at or above the list price. The majority of homes (23 of the 60 homes sold or 38% of the total homes sold in the 2nd quarter of 2014) sold for between $300,000 to $399,999.
The average list price to sale price ratio stayed the same as last year...98%. However, the average days a Stoughton MA home spent on the market was exactly half the amount of time as year (from 100 days in 2013 to just 50 days in 2014). In fact, 15 of the total homes sold in Stoughton MA from April 2014 to June 2014 spent 10 days or less on the market before going to contract.
What does this mean for the Stoughton MA home buyer? Even though less homes were bought than last year, buyers can expect to pay a higher average price than they have in the last six years. The good news is that buyers are having to wait less time to get into their dream homes. With so many homes selling at or above list price, though, Stoughton MA home buyers are going to need to bring their "A" game to the table. Contact your Stoughton MA Buyer Broker to help you find the right home for you and negotiate on your behalf.
*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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