Home prices in Taunton, MA – A market update, 2nd Quarter of 2014

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 in Taunton, 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

© 2014 MLS Property Information Network, Inc.

 

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

© 2014 MLS Property Information Network, Inc.

 

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

© 2014 MLS Property Information Network, Inc.

11th Annual RCS Golf tournament – A fun and successful event!

by Mike Ballow

B&H golf

Dave and Mike out on the course…

On June 12, 2014 the North Bristol County Association of REALTORS® held its’ 11th Annual golf tournament. The weather was beautiful and it was a fun filled day out on the course! We had 72 golfers, a nice meal, and lots of raffle items to give away afterwards! Most importantly, we were able to raise some money that will be distributed to many deserving charities and organizations throughout greater Taunton. We also collected several baskets of food and some cash that we were able to donate to the Raynham Food Pantry.

 

A big thank you goes out to our golfers, hole sponsors and those who donated items for our raffles and live auction. As Chairman of the RCS, I want to personally thank the other members of the committee for their time and effort in making this successful event possible. Members include, Delores Kenney, Dave Curtis, Jesse Paquette, Dan LeBrun, Jennifer Oldfield, Vicky Faunce, Marty Desjardins, Kelley Marie, Kim Thomas and Diane Blais. Thanks to all for another job well done!!!

 

Home prices in Taunton, MA – A market update, 1st Quarter of 2014

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 the MLS 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 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 in Taunton, 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

© 2014 MLS Property Information Network, Inc.

 

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

© 2014 MLS Property Information Network, Inc.

 

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.

Save the date! 11th Annual NBCAOR golf tournament date announced

by Mike Ballow

The North Bristol County Association of REALTORS® Community Service Committee is in the process of coordinating the 11th Annual Golf Tournament. With past support from many individuals and companies, we have been able to make our annual tournament a great success. The money raised in 2013 was donated among the following groups and organizations: “Y” Strong Kids Day Camp of Taunton, Pro Home Inc., CO-OP, Pride Inc., Associates for Human Services Inc., Wounded Warrior Project, New Hope, Boys and Girls Club of Taunton, Citizens for Citizens, Our Daily Bread Food Pantry and Homes For Our Troops.

Dave Hutchinson and Mike Ballow on tournament day!

Dave Hutchinson and Mike Ballow on tournament day!

As we prepare, we are in need of items for our goody bags, raffles, and auctions. If you prefer to help out in other ways we offer the opportunity to become a hole sponsor at a cost of $100 or by participating in the tournament at a cost of $100 per golfer (includes golf, cart, and lunch). As always, the tournament will be a fun time with many laughs, great food and prizes. This year’s tournament will be held on June 12, 2014 at The Back Nine Golf Club, 17 Heritage Hill Drive, Lakeville, MA 02347. Registration begins at 7:30 AM and we will tee off at 8:00 AM.

If you’re interested in joining us to play golf, sponsor a hole or have other items to donate please email me. Thank you in advance for your support and participation as we get back to work to make our 11th annual event a success!

Home prices in Taunton, MA – A market update, 4th quarter of 2013

by Mike Ballow

Happy New Year!!! My market update for the 4th quarter of 2013 saw increases in the sales prices across the board for all residential housing sectors. The number of units sold however saw decreases on both single family and multi-family homes with a slight positive change on the number of condos sold within the same period. As we’re into the deep of the winter there have not been a tremendous number of homes coming onto the market. This of course is a typical situation and as we know spring is just around the corner! Plus, pitchers and catchers for the Boston Red Sox report to spring training on February 15, 2014.

winterInterest rates continue to be in the low 4% range but the feeling from the mortgage professionals is that we will see an increase in rates in the latter part of 2014. With that said, if you are on the fence, now is a great time to get yourself preapproved and to start watching what new inventory comes onto the market. You have to be prepared and ready to write an offer even before finding the right property. Contact me and I’ll put you in contact with a mortgage professional who will get your preapproval together.

The data below is compiled from the MLS Property Information Network for the 4th quarter of 2013. 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 in Taunton, 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 October 1, - December 31, 2013

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

5

55

$82,300

$91,620

90

$95,620

87

$100,000 – $149,999

9

107

$126,289

$127,328

100

$138,817

92

$150,000 – $199,999

12

57

$173,775

$179,846

97

$184,013

96

$200,000 – $249,999

22

89

$224,739

$228,230

99

$241,257

94

$250,000 – $299,999

16

109

$272,269

$279,188

98

$289,544

94

$300,000 – $349,999

11

143

$329,159

$331,264

99

$311,446

120

$350,000 – $399,999

7

68

$367,771

$354,900

104

$356,329

104

$400,000 – $449,999

1

63

$415,000

$439,900

94

$439,900

94

Total Properties

83

Avg. 93

$235,471

$238,775

98

$243,808

98

© 2013 MLS Property Information Network, Inc.

 

Multi-Family Homes in Taunton, MA for the period October 1, - December 31, 2013  

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

6

90

$121,567

$125,767

97

$125,767

97

$150,000 – $199,999

5

58

$175,002

$178,660

99

$176,480

100

$200,000 – $249,999

8

40

$231,100

$237,588

97

$239,075

97

$250,000 – $299,999

3

61

$269,500

$301,583

89

$311,583

87

Total Properties

22

Avg. 60

$193,714

$202,425

97

$203,834

96

© 2013 MLS Property Information Network, Inc.

 

Condominiums in Taunton, MA for the period October 1, -  December, 31 2013

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

76

$72,800

$80,650

90

$90,050

83

$100,000 – $149,999

9

129

$117,989

$122,789

97

$125,300

95

$150,000 – $199,999

8

79

$177,800

$181,163

98

$188,663

95

$200,000 – $249,999

5

60

$209,437

$214,340

98

$227,160

93

Total Properties

26

Avg. 92

$147,026

$151,873

96

$158,962

93

© 2013 MLS Property Information Network, Inc.

Associates for Human Services receives a donation from the REALTOR® Community Service Committee

by Mike Ballow

Associates For Human Services2013The North Bristol County Association of REALTORS® Community Service Committee recently presented a $500.00 donation check to representatives for Associates for Human Services(Front row L to R) Colleen Wellman – Early Intervention, Sandy Furtado – Early Head Start, and Anne Nelson – Parent Child Home Program. Members of the committee pictured include (Back row L to R) Karen Barney, Dave Curtis, Vicky Faunce, Mike Ballow – Chairman, Kelly Marie, Marty Desjardins and Jesse Paquette.

Co-Op receives a donation from the REALTOR® Community Service Committee

Co-op2013by Mike Ballow

The North Bristol County Association of REALTORS® Community Service Committee recently presented a $500.00 donation check to Co-Op. Members of the committee pictured are (Front row L to R) Marty Desjardins, Bill Corbett of Co-Op, and Dave Curtis. (Back row L to R) Jesse Paquette, Mike Ballow – Chairman, Vicky Faunce, Karen Barney, and Kelly Marie.

Our Daily Bread receives a donation from the REALTOR® Community Service Committee

by Mike Ballow

The North Bristol County Association of REALTORS® Community Service Committee recently presented a $500.00 donation check to Our Daily Bread. Members of the committee pictured are (Front row L to R) Kelly Marie, Michaeline Saladyga of Our Daily Bread, and Vicky Faunce. (Back row L to R) Dave Curtis, Mike Ballow – Chairman, Jesse Paquette, Karen Barney, and Marty Desjardins.Our Daily Bread2013

 

A blast from the past of Taunton, MA real estate!

photo (2)by Mike Ballow

Do you know who these 2 guys are? If you do, send an email to michael.ballow@ballowandhutchinson.com with the two names. All correct entries will be entered into a drawing for a $25.00 gift card to Target. Deadline for entry is December 18, 2013 at 12:00 PM.

Boys and Girls Club of Taunton receives a donation from the REALTOR® Community Service Committee

by Mike Ballow

The North Bristol County Association of REALTORS® Community Service Committee recently presented a $500.00 donation check to the Boys and Girls Club of Taunton. Members of the committee pictured are (Front row L to R) Jesse Paquette, Jill Precopio of the Boys and Girls Club of Taunton, and Kelly Marie. (Back row L to R) Mike Ballow -Chairman, Marty Desjardins, Vicky Faunce, Dave Curtis, and Karen Barney. Boys  Girls Club2013