Canton's Second Quarter Real Estate Market Report

The end of June brought us to the end of the second quarter of 2013.  End of month or end of quarter, it's always a good time to look back and see how the market is doing.

It's no surprise that the second quarter brought more good news for the Canton real estate market and continued the trend we saw in the month of May.

From April 1, 2013 - June 30, 2013, there were 59 single family homes sold in Canton MA*, with a low price of $121,000.00 and a high of $1,270,000.00.  The average sales price was $493,158.00.  The total number of sales in the second quarter of  2013 is up from 2012.   In fact, the second quarter of  2013 saw the highest number of second quarter sales in Canton for the past five years.  The first chart attached shows total single family home sales for the second quarter of the year over the past five years. 

Prices are also up over last year, although there is a little more fluctuation in average prices over the past five years.  The second chart attached shows single family home prices in Canton for the second quarter over the past five years. 

Both the home sales and home prices show a little bump in 2010, then further decreases before heading back up in 2013. I suspect those 2010 numbers were impacted by the first time home buyer tax credit. 

What does that mean for buyers?  It continues to be more of a Seller's market than a Buyer's market.  Well priced homes, in good condition and in a good location are moving quickly in the current market.  Inventory of homes for sale still remains low. If you are ready to move, now is still a good time to buy before rates get too high.  Make sure you have a mortgage preapproval in hand from a reputable lender and be ready to move when you see the house that is right for you.


*All data is taken courtesy of the MLS Property Information Network, Inc.  Homes sold outside of the MLS are not included in this data.

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