Sharon MA Real Estate Market Report - Jan to Nov 2012
There has been a significant increase in the number of single family houses sold in Sharon MA year-to-date compared to the same time period in 2011. A total of 191 single family houses have sold compared to 146 in the same time last year.
In fact, that's more houses sold in any entire year since 2005 and we still have another month of sales left.
What's the reason for the huge increase in homes sold in Sharon MA?
Well, for one thing the mortgage rates are still the lowest they've ever been. It's a great opportunity for buyers!
Another reason is that the average sales price has increased fairly slowly over the past 3 years in the Sharon MA real estate market.
There has been only a 1.5% increase in the average sales price compared to average sales price for this time period in in 2011 and an increase of 1.3% from 2010 to 2011.
Plus, Sharon continues to be a highly desireable community with beautiful natural resources, a diverse community, easy commuting access and a good school system.
Let's zoom in to look at the report on the Sharon real estate market by quarter rather than a snapshot of the whole year. When we look at the changes from one quarter to the next, we can identify more of the details that have changed in the Sharon real estate market throughout the year.
The first quarter of this year was a buyer's market with a large supply of homes available and a lower average sales price. When buyers feel there are a lot of options, the buying cycle can take longer and there is more pricing pressure on sellers.
As we moved through the year, there was an increase in the number of houses sold as buyers made their selections. The average sales price started to increase from quarter to quarter through the 3rd quarter, while the number of new houses coming on the market began to slow. Now, in this last quarter, the number of homes coming on the market has decreased and fewer houses have sold than in previous quarters this year. These changes are reflecting the move in the Sharon MA to a seller's market with less inventory available for the buyers who are still looking.
Usually, in a seller's market home prices may rise faster than normal, as buyer's feel the scarcity in the market and compete for available homes. However, it will be interesting to see whether that ends up being the case as there can be things which distract buyers from acting at this time of year. Those distractions include the holidays and the weather.
I'll provide a complete Sharon real estate market report at the end of December. In the meantime, please email me with any questions about the market, or about preparing your home for sale in Sharon MA!
You can search Sharon MA real estate listings on my website.