Happy New Year Stoughton!
One of my resolutions is to get back on track with monthly or at least quarterly market reports. The good news is that 2012 was very busy and it was tough to keep up. But, to start 2013 out on the right foot, here are the real estate numbers for Stoughton for 2012.
In 2012, there were 199 single family homes sold in Stoughton.* The lowest priced home sold for $72,200.00 and the highest priced home sold at $540,000.00. The average sales price for 2012 was $271,590.00.
Most homes sold in the $200,000.00 - $300,000.00 price range, with the price ranges on either side of that coming in a close second. The first chart attached shows the breakdown of home sales in each price range.
So, how did 2012 compare to other years for Stoughton Real Estate?
In terms of number of homes sold, 2012 sales were up from 157 single family homes sold in 2011. In fact, 2012 saw the highest number of single family homes sold in Stoughton over the past five years, consistent with what we are seeing in surrounding communities. The second chart shows total single family home sales over the past five years.
Average sales price, on the other hand, while up from 2011, has still not recovered to the 2008 price level. The third chart attached shows average sales prices over the past five years. That 2010 average sales price jump we see could very well have been attributed, at least in part, to the first time home buyer tax credit.
The good news for buyers looking to buy a home in Stoughton is that the low prices and low rates continue to make it an attractive time to buy. For Sellers who have equity in their homes or have owned their homes for a while, it is still a good time to sell as inventory is low. Well-priced homes in good condition and in a favorable location are moving quickly. Buyers are out there waiting for the inventory to increase.
Here's hoping 2013 sees continued improvement for the Stoughton real estate market.
*All data taken from MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in this data.
About the Author: Christine Smith is a Realtor, Buyer's Agent, Attorney, social media fan, parent and Canton resident. She writes about real estate and events in the Canton area on her blog – Canton MA Events and Real Estate.