Sharon Real Estate Market Update Through Aug 31, 2014
Since the spring of 2013 there has been a steady increase in the average sale price of single family homes in Sharon. On top of that, there have been more higher priced houses listed for sale and sold than ever before.
Here's a look at the numbers:
You can see from this chart that the average sales price of single family homes in Sharon MA increased significantly from 2012 to 2013. This 16% increase in average sales price is in large part due to the 57% increase in the sale of new construction homes in 2013. These new homes are typically selling between $700,000 to over $1,000,000. In 2013, 11 new construction homes sold over $600,000 compared to 7 in 2012 and 4 in 2011.
The increase in average sales price has continued so far this year, however the pace of single family home sales in Sharon shows about 22% fewer homes sold YTD as of August 31. This could change as we move into the fall. In 2013, a little more than 1/3 of the total year's home sales happened between September 1 and December 31.
A second critical factor shown in this chart is the significant drop in homes sold under $400,000. Between 2012 and the current period, the sale of homes priced under $400,000 has decreased by 72%. This, pricing factor combined with Sharon's high real estate tax rate ,currently $20.55, means many buyers will be priced out of buying in Sharon.
If you have questions about this information, please email me or comment below.
If you, or your friends and neighbors, are thinking of selling a home in Sharon MA and would like a market analysis of your home, please give me a call at 781-883-3764. I understand the Sharon real estate market and I know how to market your home to get it sold for the highest possible price.