Stoughton MA home sales for 2014 were down from the previous year's totals. Home prices, on the other hand, increased. They finished off the year on a high note. Here is your 2014 Stoughton MA home sales year in review.
According to the MLS Property Information Network, a total of 227 single-family homes were sold in Stoughton MA between January 1, 2014 and December 31, 2014. This was 14.7% lower than the total homes sold in 2013. One Stoughton MA Buyer picked up a 3 bed/1 bath, 1197 square foot home on 1.5 acres of land for just $80,000. This home was advertised as a "contractor's special" and looked like it would most likely have to be torn down and rebuilt. The highest amount paid for a Stoughton MA home in 2014 was $624,500 for a 4 bed/4 bath, 4394 square foot Colonial/Contemporary at The Preserve at Pheasant Hill.
The average sale price for a Stoughton MA home was $321,317. This was 2.9% higher than the $312,198 average the year before. The biggest concentration of homes sold in Stoughton MA in 2014 were in the $300,000 to $350,000 range, with the second highest price point being $250,000 to $299,999. The average time a home spent on the market before receiving an offer was 38 days, which was eight days less than in 2013. The average list price to sale price ratio remained exactly the same at 98%
Stoughton MA Buyers are paying slightly more for a home right now. It appears that this trend is going to continue its slow and steady pace throughout 2015. Some experts are predicting that mortgage interest rates will rise to somewhere between 4.5-5% by the end of this year. That is still a very affordable rate for Buyers. When you are ready to start looking for your next home, contact your Stoughton MA Buyer/Broker to help you negotiate the best deal.
*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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