For the period October 1, 2013 - October 31, 2013, there were 14 single family homes sold in Canton MA*, with a low price of $330,000.00 and a high of $895,000.00. The average sales price for this period was $533,529.00.
The total number of sales for the October 2013 is down by just three from the October 2012 when 14 homes were sold. I attribute that more to the continued low inventory rather than a slow down in sales. The first chart attached showsCanton home sales in October over the past five years.
In addition, home prices have increased since October 2012. Here is a chart showing home prices in Canton MA for the third quarter over the past five years. October 2010 seems to have a jump in average sales price. However, there was one home that sold for $1,140,000.00 during that time period - brining the number up. The third quarter of 2013 saw the highest average sales price for the month of October over the past three years.
What does that mean for buyers? Steady home sales and steady prices point to a stable real estate market. It does continue to be more of a Seller's market than a Buyer's market as inventory remains low. Well priced homes are going off the market as quickly as they come on. The holiday season and winter are still a good time for buyers to buy. There is generally less competition with other buyers and Sellers who list their homes for sale during this time period are typically serious Sellers - meaning they actually want or need to sell their homes. If you are ready to move, now is still a good time to buy before rates start heading back up. Make sure you have your mortgage pre approval in hand before you start looking.
*All data is taken courtesy of the 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.