It would appear that the weather isn't the only thing heating up in Canton MA. Buyers continue to search out homes in the Canton MA real estate market to make their own. Let me break down the Canton MA home sales report for June 2014.
A total of 33 Canton MA homes were sold in June 2014. That's a 26.9% increase from the same time last year and an amazing 83.3% increase from just last month! These homes ranged from a 3 bed/1 bath 900 square foot ranch-style home that sold for $319,000 (just $900 less than the listing price) all the way up to a 5 bed/4.5 bath 4000 square foot Colonial in Algonquin Estates that sold for $1,170,000.
The average sales price for a Canton MA home increased by 6.1% from the same time last year (from $534,342 in 2013 to $567,127 in 2014). However, this is a 2.3% decrease from last month's $580,183 average sales price. Thirteen of these homes sold for at or above the listing price. Because of this, the list-price-to-sale-price ratio increased from a 97% average in June 2013 to 99% in July 2014. The average days a Canton MA home spent on the market decreased from 117 to 100.
So, what does this mean for the Canton MA home buyer? Prices have fallen slightly from the previous month. However, they are higher than last year. There is some stiff competition for homes from other Buyers. That's one of the reasons we are not seeing a big difference between the list price and sale price. When you find that Canton MA home you absolutely love, make sure you have already gotten pre-approved for your home loan so that you can make a deal as soon as possible. Contact your Canton MA Buyer Broker to help you get started on this process 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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