November 2013 saw a continued increase in home sales in Canton.
Between November 1st and November 30th, 2013, 16 single-family Canton homes were sold. Prices ranged from $279,900 to $719,900. That is a 14% increase over last month's sales figures and a 33% increase from the same time period last year. That's a significant year-to-year increase.
Single family homes in Canton sold during the month of November 2013 ranged from a 3 bed/1 bath Colonial for $279,900 to a 4 bed/2 bath Colonial for $719,900, with the average for the month coming in at $458,438. While this is lower than the $533,529 average from last month, it is 16% higher than the $395,000 average from November 2012. It is also important to keep in mind that Canton homes in November sold for an average of 96% of their original asking price (with some selling at full price). The same time last year, they were only selling for an average of 91% of their original asking price.
The average days that Canton homes spent on market in November 2013 dipped only slightly from the previous month (from 68 in October to 63 in November). However, this is a dramatic difference from the average 117 days a Canton home spent on the market back in November of 2012.
So, what does this all mean? As you can see from the charts attached, we seem to be experiencing a similar market to the one we saw five years ago, especially when it comes to home prices. The Canton real estate market appears to be steady, with the edge continuing to tilt in the Sellers direction. Winter tends to be the slowest time of year in the real estate market all over the country. This just means that Sellers are that much more willing to negotiate with 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.