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      Blog :: 05-2014

      Home prices in Taunton, MA - A market update, 1st Quarter of 2014

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      by Mike Ballow

      Happy Spring!!! My market update for the 1st quarter of 2014 shows some interesting numbers to say the least. These numbers may tell more of a story at the end of the 2nd quarter so we'll have to stay tuned to see what happens...The number of units SOLD saw deceases of 23% (single family), 64%(multi-family) and 23%(condo) from the 4th quarter of 2013. Was it the bad winter? Was the inventory low? Did rates go up? I feel that the answer to this question is a combination of low inventory and the weather. Additionally, average sales prices only increased in the multi-family segment of the market. Anyone in the business knows that inventory has been low, especially in the multi-family market. Historically, when inventory is low prices start to climb. It's supply and demand...I watched an ABC news special on Real Estate the other night. They profiled buyers in different states who were up against multiple offers on every property they made offers on. In most cases, the seller's sold at over asking price with buyer's almost begging to have their offer chosen. Some submitted letters with photos of their children to accompany the offer! As we're now a full month into the 2nd quarter there are large numbers of properties that are pending, either contingent or under agreement. Check back to see how the 2nd quarter unfolds, I can't wait!

      At my last update I said and want to reiterate again that if you are on the fence, now is the time to get yourself preapproved so that you're ready to buy. Many properties are getting multiple offers but you HAVE to at least be armed with a preapproval to submit an offer! Contact me and I'll put you in touch with a mortgage professional who will help you determine and establish your purchasing power.

      The data below is compiled from theMLS Property Information Network for the 1st quarter of 2014. If you'd like to see the market data for your particular community in Massachusetts please send me an email and I'd be happyto prepare it for you.

      Use the following links to view single family homes, multi-family homes, and condominiums that are currently for sale inTaunton, MA. As always, if you have ANY real estate related questions or needs, please feel free to give me a call!

      Single Family Homes in Taunton, MA for the period January 1, -March 31, 2014

      Price Range # of listings Avg. Days on market Average Sale Price Average List Price SP:LP Ratio Average Orig Price SP:OP Ratio
      $50,000 - $99,999 4 126 $84,266 $92,250 93 $123,375 78
      $100,000 - $149,999 8 139 $135,038 $151,313 91 $158,038 91
      $150,000 - $199,999 13 155 $184,377 $192,223 96 $211,031 88
      $200,000 - $249,999 17 120 $227,826 $238,045 96 $245,164 93
      $250,000 - $299,999 9 148 $272,878 $275,256 99 $289,922 95
      $300,000 - $349,999 6 257 $324,400 $327,782 99 $333,950 97
      $350,000 - $399,999 4 84 $364,225 $364,700 100 $385,925 96
      $400,000 - $449,999 3 22 $416,348 $418,000 100 $418,000 100
      Total Properties 64 Avg.140 $231,181 $238,781 96 $251,245 92
      2014 MLS Property Information Network, Inc.

      Multi-Family Homes in Taunton, MA for the period January 1, -March 31, 2014

      Price Range # of listings Avg. Days on market Average Sale Price Average List Price SP:LP Ratio Average Orig Price SP:OP Ratio
      $50,000 - $99,999 1 17 $97,000 $89,000 109 $99,000 98
      $100,000 - $149,999 1 155 $134,000 $159,900 84 $169,900 79
      $150,000 - $199,999 1 260 $198,550 $222,900 89 $259,900 76
      $200,000 - $249,999 3 50 $232,267 $239,900 97 $239,900 97
      $250,000 - $299,999 2 78 $284,950 $292,450 97 $311,900 92
      Total Properties 8 Avg. 92 $212,031 $222,050 96 $234,038 91
      2014 MLS Property Information Network, Inc.

      Condominiums in Taunton, MA for the period January 1, - March, 31 2014

      Price Range # of listings Avg. Days on market Average Sale Price Average List Price SP:LP Ratio Average Orig Price SP:OP Ratio
      $50,000 - $99,999 6 139 $76,313 $80,300 95 $82,483 93
      $100,000 - $149,999 7 122 $126,000 $134,500 94 $145,228 88
      $150,000 - $199,999 4 172 $186,200 $191,150 97 $193,425 96
      $200,000 - $249,999 3 45 $211,600 $211,567 100 $211,567 100
      Total Properties 20 Avg. 125 $135,974 $141,130 96 $145,995 93

      2014 MLS Property Information Network, Inc.