The Third Quarter showed steady sales and increased prices for Canton MA Real Estate.
For the period July 1, 2013 - September 30, 2013, there were 54 single family homes sold in Canton MA*, with a low price of $195,000.00 and a high of $1,000,000.00. The average sales price for this period was $493,975.00.
The total number of sales for the third quarter of 2013 is down by just five from the third quarter of 2012 when 21 homes were sold. I attribute that more to the continued low inventory rather than a slow down in sales. July 2013 pretty much shows a holding pattern over the past two years, but well up from 2009 - 2011.
Prices have increased over the third quarter of 2012. Here is a chart showing home prices in Canton MA for the third quarter over the past five years. As I have stated before, I suspect those 2010 numbers were impacted by the first time home buyer tax credit. The third quarter of 2013 saw the highest average sales price over the past three years.
What does that mean for buyers? Steady home sales and steady prices point to a stable real estate market. It does continue to be more of a Seller's market than a Buyer's market as inventory remains low. Well priced homes are going off the market as quickly as they come on.
While the Fall is not as typically busy as the Spring, it is still a good time for buyers to buy. There is generally less competition with other buyers and Sellers who list their homes for sale in the Fall are typically serious Sellers - meaning they actually want or need to sell their homes.
If you are ready to move, now is still a good time to buy before rates start heading back up. Make sure you have your mortgage preapproval and contact your Canton MA Buyer Broker to help you navigate the home buying process and advise you on the local market conditions.
*All data is taken courtesy of the MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in this data.
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