A new year means a new beginning. That is just what the Canton MA community experienced last month. Home sales started off the year much higher than last January and prices were up as well. Here is your January 2015 Canton MA home sales report.
The MLS Property Information Network reported that a total of 11 homes were sold between January 1 and January 31, 2015. While only slightly lower than two years ago, that is almost double the amount sold in January 2014. One eager Canton MA Buyer put in an offer on a 3 bed/1 bath, 1280 square foot Colonial after just nine days that eventually sold for $290,000. Another lucky Buyer purchased a 6 bed/4.15 bath, 5718 square foot classic Cape-style home on historic Elm St for $1,025,000.
The average sale price for a Canton MA home sold last month was $583,444. This is the highest January average in the last five years. It was also 29.3% higher than the same time last year. The average time a Canton MA home was on the market before receiving an offer increased from 45 days in January 2014 to 85 days last month. The listing price to sale price ratio remained exactly the same at 97%.
Last year's home sales ended lower than 2013. However, 2015 appears to be a little stronger. Canton MA Buyers should expect to pay a little more for a home now than they did last year. Interest rates remain under 4% at the moment. That can change soon. Experts are predicting that we may see them increase to 5% or higher. To lock in a low interest rate, contact your Canton MA Buyer Broker to start looking at houses today.
Learn more about Canton MA in the Canton 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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