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Sturbridge MA 2016 Year-End Real Estate Report

Sturbridge MA 2016 Year-End Real Estate Report

 

What happened in the Sturbridge real estate market in 2016? 

Today I share with you the year-end market statistics for single family homes sold in 2016.  In the data chart below, you will see that in 2016:

 

  • 155 single family homes were sold
  • Median sale price was $282,000
  • Average sale price was $292,522
  • Average days on market were 108
  • Ratio of sale price to list price was 98%

 

sturbridge 2016 home sales

 

How do Sturbridge home sales in 2016 compare to 2015? 

 

sturbridge real estate market

 

 

Summary

As you can see, the single family home market in Sturbridge is on an upswing. The total number of home sales increased by 37; and average sale price rose almost 8%.  Days on market have shortened. The data easily show that more homes sold in 2016, and at a faster pace and higher price than in 2015.

Looking Forward

As of this writing (February 7, 2017), there are 25 single family homes active on the Sturbridge market. Another 19 homes have accepted offers.  With approximately 13 homes selling per month, there is just under two months' worth of inventory on the market. This will change as spring approaches, but I foresee a strong Sellers' Market for Sturbridge in 2017.  This means there will be more buyers than homes available. It does not mean that sellers will be able to name their price.

My advice for sellers:  Present a clean, uncluttered, and well-maintained home that is priced within a reasonable market value, and you will have a successful home sale. Even though I predict a sellers' market, you will have to price your home at a point that fits market trends. Buyers are fussy, so even in a sellers' market the homes that need repair will be passed by. Lastly, keep in mind, the home will also have to meet lender appraisal. In 2015, I saw many, many homes where the sale price had to be adjusted downward due to a lower appraised value.

My advice for buyers:  Have your mortgage pre-approval letter in-hand (or proof of funds if you are paying cash) before you start viewing homes. When you find the property that suits your needs, you will need to act quickly. Be prepared for bidding wars and don't lose the house by trying to negotiate on small maintenance issues that turn up on home inspection. 

 

Do you need additional information about the Sturbridge real estate market,
or that of the surrounding towns? Please contact me. I am happy to help guide you!

 

Also see:  Shrewsbury 2016 Real Estate Market Report

 

Putting Today's Technology Tools to Work for You

 

Text and photos copyright Kathryn J. Acciari unless otherwise noted. 
All rights reserved.

 

 

 

Sturbridge & Central MA Real Estate and More

 

 

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Kathryn Acciari, Brand Ambassador

Century 21 Real Estate LLC
175 Park Avenue
Madison NJ 07940

Serving Brokers, Owners, and Agents Throughout New England

Cell: (508) 982-0686   
Email:
kasellshomes@gmail.com

Blog: Real Estate Blog
Twitter: @kacciari

Comment balloon 5 commentsKathryn Acciari • February 07 2017 10:58PM

Comments

Wow Kathryn Acciari, what a super great report for buyers and sellers in your area.

 

Posted by Will Hamm, "Where There's a Will, There's a Way!" (Hamm Homes) almost 3 years ago

Thank you for taking the time to prepare and share this market report.  This is exactly the type of information that buyers and sellers need to make informed decisions.

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (Crye-Leike REALTORS®) almost 3 years ago

Thank you, Will and Jim!  It is always interesting to see what has happened throughout the year.

Posted by Kathryn Acciari, Brand Ambassador and Business Coach (Century 21 Real Estate) almost 3 years ago

Kathryn, sure looks like the market was stronger in 2016, and sure hope it is starting out strong this year too.

Posted by Joan Cox, Denver Real Estate - Selling One Home at a Time (House to Home, Inc. - Denver Real Estate - 720-231-6373) over 2 years ago

Thank you, Joan. I believe it will be a strong market again.

Posted by Kathryn Acciari, Brand Ambassador and Business Coach (Century 21 Real Estate) over 2 years ago

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