Stoughton, MA

Stoughton MA Market Report for January 2012

The first month of 2012 has come to a close. Let's see how the real estate market in Stoughton MA is faring so far this year.

The winter is traditionally a slow month for real estate sales. In January 2012, there were only 7 single family homes sold in Stoughton MA*. The lowest priced home sold for $72,200 and the highest priced home sold for $391,800, with an average sales price of $258,957.

Looking at January home sales for the past five years, the numbers have been up and down but 2012 seems to be off to a slower start than prior years, at least in Stoughton.

Prices year over year for January are up since 2011, but are not as high as 2010.

As we approach the Spring, which traditionally shows an increase of activity and sales, we will keep an eye on the market to see how 2012 is shaping up in the Stoughton MA real estate market.

If you are looking to buy a home in Stoughton MA work with an Exclusive Buyer Agent to help you through the process.

Stoughton MA Condo Market as of January 2012

Earlier this year I took a look at the Stoughton MA Real Estate market for single family home sales in 2011. Today, we are looking at the Stoughton MA Condomimium Market.

In 2011, there were 68 condominiums sold in Stoughton MA, priced from $71,000.00 to $378,500.00, with an average of 140 days on the market. Compared to 2010, there was an increase in average sales price but a decrease in number of condominiums sold. 2010 saw 93 condominiums sold priced from $60,000 to 4377,800, with an average sales price of $198,122.00.

So, there are plenty of options for those looking to buy a condominium in Stoughton MA, and many priced right around the average sales price from 2011.

When buying a condominium, you want to make sure that you review the condominium documents, as well as the financials to make sure that the association is financially stable, that they have enough set aside in their reserve account to cover unexpected or long term expenses and that the condo fee is reasonable for the amount of items that it covers. You can also ask for a history of how often the condo fee has been increased over the years. And, if you are getting FHA financing, you want to have your buyer agent make sure that the complex is FHA approved.

For those who have neither the desire nor the inclination to handle the maintenance of a single family home, condominiums provide a good option. Do your due diligence to make sure you are buying into a stable, well-run community.

If you are looking to buy a condominium in Canton, Stoughton or Norfolk County, contact your Exclusive Buyer Agent to help you through the process.

Stoughton MA Real Estate Market Report for 2011

In 2011, there were 157 single family homes sold in Stoughton MA.* The lowest selling price was a mere $61,000.00 and the highest priced home was $750,000.00, with an average sales price of $265,000.00. The average number of days on the market was 107.

The first chart below shows that the majority of homes sold in Stoughton MA came in the $200,000 price range, with the next highest groups being the ones on either side.

In terms of prices, the average sales price of a Stoughton single family home was down 10% from 2010, however only down just under 3% from 2009. The average price of a single family home sold in Stoughton in 2010 was $295,174.00 and in 2009 it was $272,831.00.

This is similar to what happened in Milton MA and in Canton MA for 2010. It would seem that the federal first time home buyer tax credit had an impact on prices for 2010. However, in both nearby Milton MA and Canton MA, 2011 prices were up slightly over 2009 prices. In Stoughton they remained down from 2009, although not by a large percentage.

What does this mean for Stoughton home buyers? If you are looking to sell and move up to a larger home, you need to be prepared that the home you are selling may have dropped or at least stayed the same in value if you purchased it the past 5 or so years. However, keep in mind that the same is true for the home you are going to be buying. For first time buyers, the prices are remaining comparatively low, with low interest rates.

If you are on the fence and waiting until the prices "hit bottom", you could very well miss it. Without a crystal ball, there is no way to tell when the bottom has hit, until it is on the way back up. The prices from 2009 - 2011 indicate that we could possibly be there now.

If you are thinking about buying a home in Stoughton MA you will want an advocate by your side to protect your interests above all else. Contact a Stoughton MA Exclusive Buyer Broker.

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

Stoughton MA November 2011 Market Report

We have already taken a look at the Market Report for November 2011 for Milton MA and at the Market Report for November 2011 for Canton MA so I wanted to take a look to see how the market fared in November 2011 for our neighbors in Stoughton MA.

In November 2011, there were 16 single family homes sold in Stoughton MA.* The average number of days on the market was 71, which is relatively low. The lowest priced home sold for $86,500 with the highest sale being at $750,000. Obviously, there is a wide range in the prices of homes for sale in Stoughton MA. In addition, this was a slight increase in both the numbers of homes sold and in median price when compared to homes sold in Stoughton MA in October 2011.

Each month and season can be very different in the real estate market so I took a look at how home sales in Stoughton MA fared in November of prior years. The good news is that the number of sales appears to be approaching some of the higher levels of previous years. That certainl is encouraging.

Unfortunately, while the median price may be up slightly since October 2011, it has dropped dramatically when compared to November sales in prior years:

November 2011 did have one extremely low sale of $86,500 in November 2011, which of course will bring down the median price. The low prices do indicate that the time is right for buyers looking to buy a home in Stoughton MA. Unfortunately, we do not know when they start heading up until they are already on the rise.

With the approach of the end of the year and the holiday season, home sales do traditionally slow down, causing some Sellers to drop their prices to get the home sold. I'm looking forward to the end of the year when I can take a look at the year as a whole and see where the prices ended up. Stay tuned!

If you are looking to buy a home in Stoughton MA, Canton MA or a surrounding Norfolk County community, you do not need to do it on your own. Contact your Canton MA Buyer Broker to find out how you can get expert buyer representation at no cost to you and for free listings of Norfolk County homes for sale.

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

Market Report for October 2011 for Stoughton MA

In October 2011 there were 13 homes that sold in the neighboring town of Stoughton MA*. The lowest price home was $61,000 and the highest was $344,000, with a median price of $200,000.

The numbers show an improvement over October 2010. In October 2010 there were only 5 homes that sold in Stoughton MA. The lowest price was $150,000 and the highest was $372,000, with a median of $229,850. So while the number of sales was higher, the prices were slightly lower.

Since 2010 was unusual in that the first time home buyer tax credit had just expired I thought I would take a look at 2009 to see how 2011 compared. In 2009 there were 11 homes that sold, with a low of $182,900 and a high of $450,000, with a median of $310,000.00. So again, the numbers of sales are comparable, the prices are a little lower.

The chart below shows the number of homes sold in the month of October over the past five years. While the number of sales are not back up to the 2006 levels, they are heading in the right direction.

This next chart shows the median home prices over the same time period. The prices, however, do not show the upward trajectory as the number of sales.

With two months left in 2011, we will see how the year ends up for home sales in Stoughton MA.

For those looking to buy a home in Stoughton MA, the low prices combined with low interest rates do make it an attractive time to buy.

If you are considering purchasing real estate in Stoughton MA, it is important to have your own, independent representation. Contact your exclusive buyer agent at Buyers Brokers Only to help you through the home search process in Stoughton MA, Canton MA or throughout Norfolk County.

*All information was taken from MLS Property Information Network, Inc.