Buyers will be happy. The May 2015 Stoughton MA Home Sales Report continued the downward trend we have seen this year. Total sales were lower than last year. But so were prices.
May 2015 Stoughton MA Home Sales Report Explained
According to statistics compiled by the MLS Property Information Network, a total of 17 Stoughton MA homes were sold in May 2015. This is 15% lower than the same time last year. This continues the lower year-over-year sales we have been seeing all year long.
The average sale price for a Stoughton MA home sold last month was $304,929. That is a 16.6% decrease from April 2015. It is also 7.1% less than May 2014. April 2015 was the only month this year that saw prices increase from the previous year. One Stoughton MA Buyer purchased a 3 bed/1.5 bath, 1514 square foot Colonial on 1/4 acre for $150,000 in just eight days. That was almost $20,000 under list price. It needed some major renovation, though. Another Stoughton MA Buyer purchased a 4 bed/3.5 bath, 3829 square foot Custom Colonial for $570,000 in just 21 days. They paid almost $10,000 under list price.
What does this all mean for a Stoughton MA Buyer?
Total year-over-year sales have continued their downward trend. After the uptick last month, prices have also gone down. According to Bankrate.com, interest rates have steadily increased over the past several weeks. Financial experts have predicted that it could reach 5% by the end of the year. Buyers should take advantage of the lower prices now. Contact your Stoughton MA Buyer Broker to start your home search.
Are you in the market for a new property? What neighborhood are you interested in? What are you looking for in your next home? Please let me know in the comments below.
*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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