The Charlton Homes For Sale Market ReportCharlton is seeing rising prices - and a late season of home sales. But on paper, the HSI is only 110, so what's going on? And why are sellers asking such high prices?
|Home Prices reach a record, following a year of increased demand.|
The answer is in new construction. About 1/3 of the homes for sale in Charlton are new construction, and new construction has higher prices on average than the market, and it also takes much longer to sell, especially when some builders are listing homes that they can't actually build for a year or more. If you want a good read on the market, focusing on the sales data -as opposed to the "for sale" data - will give you the best read. With just 65 days on market for the sales, we can see that the market is probably much hotter than an HSI of 110. It's probably above 150, and that accounts for the rise in prices. Further, the late transaction volume is a function of homes being finished up for the fall, so new construction probably spiked that number too.
What should active home buyers do in Charlton ?Home buyers who are looking at new construction will find plenty of choices - but many are well ahead of the re-sale market. While a premium for new is common, buyers should be cautious about it getting too rich. The re-sale market is thin, but there are still options - they are moving quickly though, and buyers shouldn't assume the market will wait for them - it won't.
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What should potential home sellers do in Charlton ?Home sellers should get ready to take advantage of the spring market. The builders have created an opportunity for sellers to get good - perhaps great - prices, while still looking like a discount to what's offered. Many buyers will choose new construction, but savvy buyers will look at re-sales too, and there sellers could probably shine. Some markets will be particularly thin with limited competition, and those present opportunities too.
|Despite loads of New construction in Charlton,|
the demand for homes is growing faster than supply.
Charlton Houses For Sale and Sold Market Statistics - MLS Data
- The Charlton “Home Seller Index” (HSI):110 Last Report: 100
- There are 75 homes listed as For Sale.
- There have been 108 houses sold in the last 6 months, and 67 homes sold in the last 3 months in Charlton.
Time for the fall pictures is running out!
Much like the re-sale home inventory in Charlton
- The Average number of Days on Market was 65 days for just SOLD homes.
- There is an Average Market Time of 175 days of the Charlton homes For Sale (currently for sale).
- The amount that was paid in Dollars per Square Foot averaged 149 (vs. 144 in the last report)
- Current sellers are looking for $171 /sq foot
- There was an Average Sold Price of $285,840 for sold homes.
- Charlton, MA, has 2 properties advertised as lender owned or foreclosure (typically foreclosure) .
- There are 1 properties advertised as a short-sale is going to be needed by the lender.
All raw data are for Single Family Houses and based on data in MLS. Matt’s HSI is proprietary*, and is designed to offer town-by-town information, instead of large scale trends.
*That means you won’t find it anywhere else. Take that, Case-Schilling!.
Matt’s Got MoreHold on there! Don’t go yet. Realtor Matt’s got lots more you to check out if you are planning to buy or sell a home. Why not look here, and find out a lot more about Radon, New Construction, Title V, House Styles, Town Assessments, MCAS scores, and even some tips to get the best rate possible on your mortgage.
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