Q. How has the Sharon real estate market performed over the past year?
by Richie Gorden, Realtor * Appraiser
A. The Town of Sharon has seen steady growth in the numbers of real estate transactions and increased values of houses for calendar year 2013 when compared to calendar year 2012.
Based on MLS data for single-family houses, here is a year-to-year comparison of houses sold in Sharon:
Houses sold: 209
Average days-on-market: 112
Average sales price: $449,000
Average selling price/list price ratio: 97%
Houses sold: 247
Average days-on-market: 76
Average sales price: $521,750
Average selling price/list price ratio: 98%
This shows a significant increase in average selling price as well as a significant decrease in marketing time.
The following market data will give you a look at specific price ranges and market performance for houses sold in 2013:
Under 300k 21 sold
$300- 400k 56 sold
$400- 500k 53 sold
$500- 600k 40 sold
$600- 700k 43 sold
$700- 800k 19 sold
$800- 900k 7 sold
$900 -1mil 0 sold
Over $1mil 8 sold
Almost every price range shows an increase in # of houses sold in 2013 as compared to calendar year 2012, with the exception of under $300k. The most significant improvement is found in the mid-range of $400k – 800k.
What’s happening so far in 2014? The supply of houses available for sale is very limited, as of 1/28/2013 there were only 23 houses listed for sale through the MLS database. The available inventory is historically low which may result in continued upward pressure on house values in 2014.
Under $300k 0 houses
$300-400k 5 houses
$400-500k 3 houses
$500-600k 2 houses
$600-700k 4 houses
$700-800k 3 houses
$800-900k 1 house
$900-1 mil 1 house
Over 1 mil 4 houses
There are a number of reasons for the improved real estate market, both in Sharon which is renowned as the #1 place to live, and in the greater Boston area, as the economy continues to improve and mortgage rates remain at affordable levels.
Richie Gorden is a real estate broker and real estate appraiser and serves on the Sharon Board of Assessors. If you have any real estate questions you would like answered in future columns, please send to Richie Gorden, c/o Re/Max Landmark, Realtors, 28 South Main St, Sharon, MA or email directly at email@example.com