by Mike Ballow
Hope everyone is enjoying the summer! My market update for the 2nd quarter of 2014 reinforces the theory of the strength of a spring market. During my last update, we saw a decrease in the number of units SOLD across all covered segments and an increase in average sales prices in the multi family market only. Guess what happened once the spring hit? You guessed it, the number of units SOLD saw increases of 47% (single family), 113% (multi-family) and 70% (condo) from the 1st quarter of 2014!!! Interestingly, the increases in the average sales prices for single family and condominiums were each just under 10%. Don't get me wrong, an increase is an increase! Finally, while the increase in SOLD multi-family units blasted off in the 2nd quarter, the average sales price did fall by just over $6K.
Many of the investors that I work with are circling the runway as they wait for new properties to come onto the market. However, the formulas that they use to invest are changing. Many investors who were eager to buy properties in 2013 have taken a wait and see approach now that asking prices have been rising. The feeling seems to be that there aren't as many "bargains" out there to be had. The margins are getting thinner for flippers and other investors. There is still money to be made but you have to really know what you're doing. Give me a call if you have any investment related questions or are in the market to buy or sell a property just about anywhere. I'd be happy to help!!
The data below is compiled from the MLS Property Information Network for the 2nd 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 happy to 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 April 1, -June 30, 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 | 141 | $69,875 | $78,225 | 90 | $100,250 | 72 |
| $100,000 - $149,999 | 4 | 98 | $121,875 | $125,725 | 98 | $131,700 | 94 |
| $150,000 - $199,999 | 18 | 145 | $174,867 | $180,683 | 97 | $200,339 | 90 |
| $200,000 - $249,999 | 21 | 91 | $226,381 | $232,419 | 97 | $237,333 | 96 |
| $250,000 - $299,999 | 20 | 89 | $269,225 | $273,625 | 99 | $279,715 | 96 |
| $300,000 - $349,999 | 14 | 90 | $324,857 | $328,193 | 99 | $331,550 | 98 |
| $350,000 - $399,999 | 10 | 73 | $363,700 | $361,920 | 101 | $364,920 | 100 |
| $400,000 - $449,999 | 1 | 58 | $435,000 | $449,900 | 97 | $449,900 | 97 |
| $450,000 - $499,999 | 2 | 152 | $477,500 | $487,400 | 98 | $487,400 | 98 |
| Total Properties | 94 | 102 | $251,363 | $255,957 | 98 | $264,125 | 95 |
Multi-Family Homes in Taunton, MA for the period April 1, -June 30, 2014
| Price Range | # of listings | Avg. Days on market | Average Sale Price | Average List Price | SP:LP Ratio | Average Orig Price | SP:OP Ratio |
| $100,000 - $149,999 | 3 | 88 | $122,333 | $148,967 | 83 | $164,667 | 76 |
| $150,000 - $199,999 | 7 | 50 | $174,986 | $183,343 | 96 | $173,471 | 103 |
| $200,000 - $249,999 | 2 | 67 | $226,500 | $222,450 | 102 | $222,450 | 102 |
| $250,000 - $299,999 | 3 | 41 | $261,000 | $270,633 | 96 | $271,633 | 96 |
| $300,000 - $349,999 | 2 | 85 | $332,000 | $337,400 | 99 | $337,400 | 99 |
| Total Properties | 17 | Avg. 61 | $205,406 | $215,406 | 95 | $214,288 | 96 |
Condominiums in Taunton, MA for the period April 1, - June 30, 2014
| Price Range | # of listings | Avg. Days on market | Average Sale Price | Average List Price | SP:LP Ratio | Average Orig Price | SP:OP Ratio |
| $0 - $49,999 | 1 | 68 | $47,500 | $58,000 | 82 | $65,000 | 73 |
| $50,000 - $99,999 | 7 | 88 | $76,764 | $79,371 | 97 | $84,671 | 93 |
| $100,000 - $149,999 | 10 | 102 | $124,230 | $129,130 | 97 | $133,720 | 93 |
| $150,000 - $199,999 | 9 | 42 | $176,122 | $178,500 | 99 | $178,500 | 99 |
| $200,000 - $249,999 | 7 | 84 | $220,914 | $227,057 | 97 | $228,129 | 97 |
| Total Properties | 34 | Avg. 78 | $145,843 | $150,024 | 97 | $152,891 | 95 |
