Sharon MA Real Estate Market Report for 1st Quarter 2015
In a winter that shocked even the hardiest New Englander, it's not surprising that there weren't a lot of single family homes listed for sale in the 1st quarter of 2015.
With a peak of just 34 homes on the market, strong buyer demand continued to create an overall Sellers' market in Sharon MA. A Sellers' Market means there is more demand from buyers and not enough inventory.
In the 1st quarter of 2015, across all price ranges combined, one house sold every 3.6 days in Sharon, with an Absorption Rate of 3.24 months. The Absorption Rate is the time it would take to sell all the current inventory if no new listings came on the market.
However, just as real estate markets vary from town to town, homes in different price ranges also perform differently. Not every price range in Sharon reflected a "Sellers' Market" in the 1st quarter. During the 1st quarter, homes priced in the $500K-$599K and $800K-$899K price ranges represented a Buyers' Markets based on the Rate of Home Sales (see chart below) in those price ranges and the number of homes available for sale in those price ranges. Homes priced between $700K-$799K and $900K-$999K reflected a Balanced Market. All other price ranges represented a Sellers' Market.
The chart above shows the Average Sales Price in each of the price ranges displayed across the bottom of the chart. The red line indicates the Rate of Homes Sales. In other words, how many days it takes to sell one house in that specific price range.
As a Seller, it's important to understand these numbers so your home is positioned to sell quickly. For example, homes priced between $500K-$599K sold at a rate of one every 45 days. During the 1st quarter, there were 6 homes on the market in this price range. If you were selling your house in this price range, you would want your home to be priced and marketed so it was the one that sold in the first 45 days and not the last one after 9 months on the market.
The average sales price for all single family homes sold in Sharon in the 1st quarter was $588,041, with an average of 53 days until an offer, and an average of 79 days on market. This reflects a 10.7% increase on the averages sales price compared to 1st quarter 2014.
Here is the data for 1st quarter sales by number of bedrooms:
- 12, 3-bedroom homes sold with sales prices ranging from $305,000 to $734,000 for a new construction home (Average Sale Price: $435,920),
- 11, 4-bedroom homes sold from $365,000 to $1,255,00 (Average Sale Price: $675,455),
- 2, 5-bedroom homes one of which sold for $735,000 and the other for $1,305,000 (Average Sale Price: $1,020,000.
To understand how these numbers affect your home, give me a call at 781-883-3764 when you're ready to sell your home. I will prepare a complimentary market analysis of your home and discuss marketing and pricing to get your home sold! I look forward to a successful partnership!