The August 2015 Stoughton MA Home Sales Report showed an increase in sales and prices from last year. However, Stoughton remains one of the most affordable communities in the area. Here is the breakdown of August's housing statistics.
August 2015 Stoughton MA Home Sales Report
According to the MLS Property Information Network, a total of 29 Stoughton MA homes were sold in August 2015. This was a slight dip from the previous month. However, it was a 16% increase from August 2014.
The average sale price for a Stoughton MA home in August 2015 increased 12.7% from the previous year. However, it is still 5.8% lower than two years ago and slightly lower than August 2011. A 3 bed/1 bath, 931 square foot Bungalow sold for just $225,000. Another happy homeowner purchased a 3 bed/2 bath, 1793 square foot Colonial in Woods Pond (Stoughton's most desirable neighborhood) for $552,000, $3000 under list price.
The August 2015 Stoughton MA Home Sales Report also showed a decrease in how long a property was on the market. The average time before a Stoughton MA home went to offer was just 25 days, that's 32.4% less time than last year. In fact, 27.6% of all home sales took place after 30 days or less on the market. The Hanson District is one of Stoughton's most desirable neighborhoods for families. A property in that district sold for list price last month after just four days on the market.
What Stoughton MA Buyers Need to Know
The Federal Reserve met recently to discuss the possibility of raising interest rates. After carefully considering economic conditions, they decided to hold off raising rates again. This caused the current interest rates to dip slightly. Home loan applications rose almost 14% since the Fed made its decision. How will September's sales be effected? We'll have to wait and see.
Are you interested in buying a Stoughton MA home soon? Contact your Stoughton MA Buyer Broker to get started looking today. The Federal Reserve is scheduled to meet again at the end of October. They may finally decide to raise rates. You might want to take advantage of the current lower rates now.
Do you live in the Stoughton area? What do you think of the local school system? I'd love to hear your thoughts 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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