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 |
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 |
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.
