Sharon MA Real Estate Market Report - December 2014
Despite the holidays and school vacation, 15 single family homes sold in Sharon MA in December, according to the Mutiple Listing Service Property Information Network (MLSPIN). This was the the same number sold in October and November combined. Most of the homes were originally listed for sale in September and October with closing dates in December.
The average sales price of homes sold in December 2014 was $481,947 with a Sales Price to List Price Ratio (SP:LP) of 97. In other words, on average the houses sold for 97% of the price at which they were listed at the time of the offer. The Average Days on Market (DOM) for these properties was 72, which is twice as long as the Average Days on Market for all single family homes sold in Sharon in 2014.
What Does the Average Sale Price to List Price Ratio Mean?
This reflects the end-of-the-year market slow down, as well as the fact that many of the homes were originally priced above market value. When we look at the ratio of the Average Sale Price to Original Price (SP:OP) for the month of December 2014 we see it was 94. Looking at each individual transaction shows that over half of the properties had their original list price reduced, sometimes multiple times, before receiving an offer. When the prices were lowered, the Sale Price to List Price ratio rose to 97 as mentioned in the paragraph above. Just because we have a Sellers' Market in Sharon MA does not mean that the buyers will buy at any price. Listing a property within the fair market value range of a property is key to its selling success.
What Was the Breakdown of the Homes Sold in December?
Of the 15 homes sold in December, there was 1, 2-bedroom home; 8, 3-bedroom homes; 5, 4-bedroom homes and 1, 5-bedroom home (which did not sell at a typical sale price for a 5-bedroom).
The Average Sale Price for 3-bedroom homes sold in December was $416,238, while the Average Sale Price for 4-bedroom homes was $658,480. Despite the significant difference in price, the Average Days on Market (DOM) of 75 for 4-bedroom homes reflects the strong buyer demand even in the higher price range. The Average Days on Market for 3-bedroom homes was 81 days.
Call For a Free Market Analysis of Your Home!
If you are thinking of selling your home in the next 3 to 6 months, give me a call at 781-883-3764. The time to prepare for the Spring Market is now. I'll be happy to meet with you and provide a free market analysis of your home and a plan to get your home sold! You can reach me by text or phone at 781-883-3764 or email: email@example.com.
Wishing you all a very happy, healthy and peaceful New Year!