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Easton's housing market appears to be making a slow comeback at least partially.
The town's median sales price has increased by more than 9 percent since January 2010, coming in at $535,000, according to Trulia.com. The good news, however, applies only to three-bedroom homes. Four bedrooms are off nearly 25 percent from three months ago and more than 50 percent from five years ago. Total sales prices have depreciated 58.8 percent over the last five years in Easton, Trulia reports.
These low prices are spurring an increase in sales, Trulia reports. Easton's inventory of homes has steadily dropped since mid-2008, In fact, this increase in sales mirrored the fall in prices as more homes lost value, more houses were sold. Trulia reported that 62 homes are for sale in town and 12 sales have been made this year.
Easton's town clerk records property transfers and said the disparity between the median sale price and the average sale price has also decreased. "The reduction of the strong disparity between these numbers means that the distribution of sales values is less distorted by the market, and they are a better measure of market value, or changes," says Town Clerk Derek Buckley.
After taking a plunge in 2006, the market bottomed out in 2009 and has been bumping along ever since. The average listing price for Easton homes was $982,147 for the week ending Feb. 16, a slight increase from the previous week. The average price per square foot in Easton was $182, a decrease of 5.2 percent compared with the same time last year, Trulia reports.
Tell us your thoughts on the local housing market. Is it getting better? Have we seen the worst of it?
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