2013 was a good year for the Stoughton real estate market. According to data from the MLS Property Information Network, we haven't seen numbers this good since 2007.
The 2013 Stoughton real estate market had a total of 266 single family homes were sold. That's a whopping 33% more than the previous year's total. It is also the highest amount of homes sold in Stoughton in a single year for the last decade, including the "boom" years of the early 2000's.
The average sale price for a Stoughton home continued to increase for the third year in a row. The $312,198 average sell price for 2013 was 15% higher than the previous year's $271,640. The types of homes sold ranged from a 3 bed/1 bath Cape style 1176 square foot property that sold for $50,000 all the way up to a 4 bed/2.5 bath 3478 square foot Colonial that sold for $580,000.
The average days a Stoughton MA home was on the market before it sold in 2013 was 73, a 22% decrease over the prior year's 94 days on the market. Another important statistic to keep in mind is that the average list-price-to-sell-price ratio for 2013 also went up slightly: from 97% to 98%. That means that homes are selling closer to the list price than they did the year before.
Housing inventory continues to remain low - making it an ideal time to put a home on the market. Buyers continue to see low interest rates but the low inventory means increased competition among buyers.
*All data used in this blog post has been provided by the MLS Property Information Network, Inc.
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.