Canton Market Report for October 2011

In October 2011, there were only four single family  in Canton.*  The median price of those homes that sold was $521,500.00, with a low of $150,000 and a high of $750,000.  Considering that there are currently 102 single family homes for sale in Canton, the number of sales in October certainly is low.

The fall does traditionally see a slow down in sales, however four is still a very low number.  So I thought I would take a look at number of homes sold in October over the past several years.  The first chart shows that while 2010 was not much better than 2011, there is a wide variation of numbers of homes historically sold in October.  Nonetheless October 2010 and 2011 seem to have the lowest numbers in recent history.

Of course, the other piece of data that is important to Buyers and Sellers is .  The silver lining, at least for Sellers, is that the median home prices in October 2010 and 2011 are a little higher than in previous years.  The second chart attached shows the median home prices for home sold in October over the past several years.  In spite of slow sales, home prices have remained fairly stable over the past several years.

With a good inventory of homes on the market and slow sales in October, combined with continuing historically low interest rates, the opportunity exists for serious buyers to do some negotiating and find a place to call home in Canton.

*All data is taken from the MLS Property Information Network, Inc.

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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.