January 2021 Sharon Real Estate Market Update
The 2021 real estate market in Sharon MA is off to a very strong start! The high buyer demand and low inventory has resulted in an Average Sales Price of $712,500 for the month of January 2021. This represents a 41% increase compared to the $505,000 Average Sales Price for the month of January 2020.
Sixteen single family houses sold in Sharon in January 2021 according to information from the Multiple Listing Service (MLS). For the same time period last year, there were only 7 sales. Additionally, the Average Days to Offer is currently 18.5 days compared to 52 days last year (pre-COVID).
In the past 3 months (Nov. 1, 2020 - Feb 10, 2021) 55 single family houses have sold in Sharon, and 33 of them sold at, or above, list price. Houses priced between $400,000 and $899,999 sold at a rate of one every week.
Houses listed in the $200K and the $900K price ranges sold more slowly, at a rate of 1 house every 6.5 weeks. This represents more a Balanced Market, where the number of houses for sale and buyer demand are balanced. Those houses listed for sale in the $300K and $1M+ price ranges sold at a rate of 1 house every 4 weeks, which represents a Sellers' market.
What does a Sellers' Market mean for Sellers and Buyers? Houses still have to be priced according to their market value to sell at the highest possible price. When Sellers list their houses correctly within the market value range, they can expect to sell quickly and for the highest possible price. As your Seller's Agent, I will share the sale prices of comparable homes with you so we can sell your housefor top dollar, too. Please contact me when you are ready to sell your home!
Buyers must be prepared to act quickly and make a strong offer when they find the right house as they will most likely face competition from other buyers. Talk to your mortgage lender so you can have an updated preapproval letter ready to submit with your offer. It will continue to be challenging for Buyers to enter the Sharon MA real estate market because of price and limited inventory. I am happy to work with you so you are best represented to purchase a new home.
Marc Cohen Real Estate
29 South Main Street
Sharon MA 02067