Last quarter's statistics for Stoughton MA home sales were down from the previous year. However, it would appear that there was a bit of a rebound last month. Here is a quick rundown of what happened in Stoughton MA home sales for October 2014.
According to the MLS Property Information Network, a total of 30 homes were sold in October 2014. That is a 36.3% increase over the same time last year and the largest total of October home sales in the last five years. At the lower end of the spectrum, a 3 bed/1 bath, 1537 square foot Colonial sold for $155,000 in October. That was $8200 over list price. And, it only spent 15 days on the market before going to contract! On the upper end of the scale, a 4 bed/3.5 bath, 3795 square foot Contemporary Colonial sold for $522,000.
The average sale price for a Stoughton MA home was $351,462, a 7.4% increase from the same time last year. This is the highest average October sale price in the last five years and the third year in a row of year-over-year increases. Of the 30 total homes sold in Stoughton MA during October 2014, 14 of them sold in 30 days or less. That's almost half of all homes sold! Stoughton MA Buyers paid list price or above for 12 of the total homes sold in October.
What does this all mean for a Stoughton MA Home Buyer? Higher average sale prices shouldn't stop you from looking for your dream home. According to Bankrate.com, the current mortgage interest rate is 4.10% for a 30 year fixed rate mortgage and 3.10% for a 5/1 adjustable rate mortgage. We are going into our slower real estate season. Harsher weather means less competition for Buyers. When you are ready to start looking for your next home, contact your Stoughton MA Buyer Broker to help you out.
*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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