So far, 2013 has been a busy year for real estate and July was no different.
For the period July 1, 2013 - July 31, 2013, there were 20 single family homes sold in Canton MA*, with a low price of $265,000.00 and a high of $1,000,000.00. The average sales price for this period was $486,665.00. The first chart attached shows the number of home sales in each price range. The total number of sales for July 2013 is down by just one from July 2012 when 21 homes were sold. July 2013 pretty much shows a holding pattern over the past couple of years, but well up from 2009 and 2010. The second chart attached shows July home sales in Canton for the past five years.
For the period July 1, 2013 - July 31, 2013, there were 20 single family homes sold in Canton MA*, with a low price of $265,000.00 and a high of $1,000,000.00. The average sales price for this period was $486,665.00. The first chart attached shows the number of home sales in each price range. The total number of sales for July 2013 is down by just one from July 2012 when 21 homes were sold. July 2013 pretty much shows a holding pattern over the past couple of years, but well up from 2009 and 2010. The second chart attached shows July home sales in Canton for the past five years.
Prices are also holding steady compared to July 2012, although there is a little more fluctuation in average prices over the past five years. The third chart shows home prices in Canton for the month of July over the past five years. As I have stated before, I suspect those 2010 numbers were impacted by the first time home buyer tax credit.
What does that mean for buyers? Steady home sales and steady prices point to a stable real estate market. While rates are increasing, they are still relatively low when you look at historical interest rate data. It does continue to be more of a Seller's market than a Buyer's market as inventory remains low. Homes are going off the market as quickly as they come on.
While the Fall is not as typically busy as the Spring, it is still a good time for buyers to buy. There is generally less competition with other buyers and Sellers who list their homes for sale in the Fall 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 get too high.
*All data is taken courtesy of the MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in this data.
While the Fall is not as typically busy as the Spring, it is still a good time for buyers to buy. There is generally less competition with other buyers and Sellers who list their homes for sale in the Fall 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 get too high.
*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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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