Everyone wants to know - how is the real estate market doing? Well, here is a look at the real estate market in Canton for May 2012.
From May 1, 2012 - May 31, 2012, there were thirteen single family homes sold in Canton. The lowest priced home sold for $252,000.00 and the highest priced home sold for $760,000.00*. The average sales price was $421,372.00.
That is an increase from May 2011, when there were 9 single family homes sold. Attached iis a chart showing the number of sales in Canton in May for the past five years.
Average sales price is not faring quite as well as number of home sales. Attached is a look at average sales price in May for the past five years.
I do expect to see those average sales prices start to move up. Well-priced homes in good condition are seeing a lot of competition and are moving quickly. As the inventory for these types of homes goes down, the demand is likely to keep prices steady.
It has been a busy spring and early summer. As of June 23, 2012, there are 35 single family homes listed as Under Agreement in Canton, with several more with accepted offers, waiting for contingencies to clear. Some of those will be closing in June and others will be closing in July.
For Sellers looking to sell, in spite of what the average price looks like, it is a good time to sell. There are buyers out there looking. If you have your home priced well and it is in good condition, it is likely to sell quickly.
For Buyers, the interest rates remain at historic lows and the home prices are still attractive. Get your finances in order and make sure to get a mortgage preapproval from a well-qualified mortgage lender so you are ready to take advantage of the rates and prices.
*Sales information is taken from the MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in these figures.
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.