Real Estate Trends – Canton, Massachusetts


Welcome back for our latest market trend report looking at a Massachusetts real estate market.  If this is the first one you have read our goal is to chronicle the changes year over year in a given city or town in our areas of interest in Eastern Massachusetts and Southern New Hampshire. Massachusetts real estate markets are going up, down and sideways in any given town.  It is important to observe each areas specific trend to see how it may or may not differ from statistics we might hear about the region or nation.

Today we are highlighting Canton, MA in Norfolk County, a smallish town south of Boston and a local business hub that has many corporate headquarters, most notably Reebok and Dunkin’ Donuts.

Canton, MA Real Estate - Canton Town Seal

Market Trends in Canton, MA – September 2013 and 2014:

Canton, MA had the Golden Sombrero of bad metrics indicating a declining real estate market.  All of the items examined show a slowing market with listing prices down as well as sale prices, while day on market were up significantly and overall sale volume was down noticeably.  Since starting these reports a couple months ago I’d say this is the first town where the volume caught my eye as being down going from 15 to 9.  This might be within the noise but it is a 40% decrease year or year in the number of sales.

Average Listing Prices:

The first thing we looked at is the average listing price, which for Canton, MA went down quite a bit.  Back in September 2013 the average listed price for Canton, MA was $514,187; and by September 2014 it was way down to $465,711. This is a large decrease of 9.43%, which is an indicator of a slowing market.  What it typically means is that the Realtors in town see that prices are declining; therefore they are having their client’s list properties for less.  Thereby trying to avoid having overpriced listings that will languish on the market.

Average Sale Prices:

Next let’s look at the average sale prices.  In September 2013 the average sale price for Canton, MA was $504,457; in September 2014 it was down to $452,778. This is an even bigger decline than the listing prices at a 10.24% decrease.  This also shows that prices have gone down.  It also tends to indicate that prices are falling faster than people are anticipating since the actual prices are outpacing the declines in listing prices.

Average Days on Market:

Besides looking at the actual pricing it is important to see how long it is taking for houses to sell in the market.  In the case of Canton, MA the average days on market (DOM) are up significantly as well.  Looking back at September of 2013 the average DOM was 45.53 but in 2014 that was up to 118.33, or a 160% increase. Now as we have seen in our previous posts for Abington, Bedford, Seekonk, Belmont and Topsfield, when there are not a lot of sold properties, outliers can really skew the data.  That is the case here for Canton as well.  In this case in September 2014 there was one very high DOM property that was on the market for 424 days which is much higher than anything else.  If we remove this from the calculation the remaining 8 houses had an average days on market of 80.13, which is still much higher and represents a 76% increase year over year.  While not as dramatic this is still a very large increase.  If we want to be very extreme the second highest DOM in 2014 was over 100 more than the next couple of high ones so if we take out that one as well the average for 2014 falls to 56.43 and is still a 20% decrease year over year. As a side note I did not test for the validity of removing these points.  I have a back ground in mathematics and statistics and my guess is that the 1stpoint can be rejected but the 2nd is probably not so far off, especially after dropping the first one, to be legitimately eliminated.  Sorry to get nerdy on you there.  🙂 To wrap up the thoughts on DOM, qualitatively 4 of the 9 properties sold in September 2014 had higher days on market than any of the 15 from September 2013.  Also aside from one place in 2014 with only 1 day on market there were 5 that had sorter days than the next lowest in 2014.  Even without going to deep into any math it is pretty obvious that things are taking much longer to sell now than last year.

Canton, Mass Summary:

By every metric we looked at the Canton, Massachusetts real estate market has slowed down significantly year over year.  The roughly 10% declines in both listed and sale prices indicates that sellers may have missed out on what might have been a 2013 price peak.  The very large increase in the days on market also shows that buyers aren’t willing to pay for these properties. In summary if you are looking to sell your Canton, MA home now you should expect to get less than you would  have last year and should be willing to take a bigger discount off your listed price to avoid sitting on it for a very long time.


Do you need to sell your Canton, Massachusetts house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

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(Image credit: Canton Town Seal from Town of Canton website)  



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