Here are some thoughts on the Stoughton real estate market from August, 2016.
- 274 Island Avenue, Stoughton was listed on August 20th, 2016 and is still currently available at $370,000. That $472 monthly condominium association fee seems to be a drag on the value of the property but you have to admit that the property would be worth well over $400,000 if it didn’t have a condominium association fee. Maybe even up to $500,000? Alas!
- 76 Summer Avenue, Unit 11, Stoughton sold for $168,000 on August 29th, 2016 for $168,000. It previously sold for $213,200 on January 25th, 2015. The unit is clean and updated so it’s a good value. Summer Avenue represents the least expensive condominium sold in Stoughton during August, 2016.
- 1 Onset Lane, Stoughton at Pond View Village sold for $375,000 on August 19th, 2016. It previously sold for $339,900 on December 15th, 2009. The $351 monthly association fee is in line with other condominium associations with pools. Onset Lane represents the most expensive condominium sold in Stoughton during August, 2016.
- 33 Kevin Clancy Way, Stoughton was active during August, 2016 and it’s still currently available at $925,000. The current owners bought the property for $1,190,000 on March 29th, 2016. Why the quick change of heart? It looks like the owners are willing to take a substantial loss on the sale of the property.
- 32 Howland Road, Stoughton sold for $190,000 on August 17th, 2016. The buyer, Richard Middleton, paid cash so I’m assuming he’s going to rehabilitate the property. We may see it back on the market in the next few months. Howland Road represents the least expensive single family sold during August, 2016.
- 266 Palisades Circle, Stoughton sold for $636,500 on August 31st, 2016 but the seller did concede $11,500 to the buyer for closing costs so the true sale price was $625,000. The sellers initially used one of those entry only brokers but decided to hire a traditional broker after being unsuccessful after 133 days on the market with the entry only broker. Palisades Circle represents the most expensive single family sold in Stoughton during August, 2016.
- 921 Washington Street, Stoughton is the only multi-family property currently active in the MLS and it was priced at $210,000 throughout the month of August, 2016. It looks like it was originally built as a Cope Cod style single family home but was seemingly chopped up by the current owner. It might be better to put it back together as a single family property.
- 77-79 Clapp Street, Stoughton was listed on August 10th, 2016 and went under agreement on August 18th, 2016. I attended the open house with an investor on Sunday, August 14th and it was mobbed. The building itself is nearing obsolescence and it may be best if it were torn down. Three units may be able to be built in its place with Town of Stoughton approval due to it’s 2.17 acre lot which, admittedly, is mostly wet. The anticipated sale date is September 30th, 2016.
- 25 Myrtle Street, Stoughton was sold on August 31st, 2016 for $350,000. It was listed for $329,900 and went under agreement after only 5 days on the market so there was most likely a bidding war. Myrtle Street represents the only sale of a multi-family property in Stoughton during August, 2016.
- 19 Rose Street, Unit 14A, Stoughton is still on the market and it’s been listed at the same $1,65o asking price all throughout August. Rose Street is a two bedroom unit in a building that was built in 2012 so it’s surprising to see that it’s still available because a two bedroom unit in the new building at 724 Washington Street recently rented for $2,300 per month. Maybe the proximity to the Stoughton Police Station and the commuter railroad tracks are issues?
- 36 Cottonwood Drive, Stoughton rented for $1,800 per month on August 18th, 2016 but it took 97 days on market before it was rented. Ouch! Cottonwood Drive was a two bedroom unit with one and one-half bathrooms and it also had an attached two car garage. The condominium association has a clubhouse, a pool and a tennis court.
- 2 Laurelwood Drive, Stoughton rented for $1,800 per month on August 12th, 2016 and it took reasonable 36 days to rent. Laurel wood Drive was two bedroom unit with one and one-half bathrooms and it also had a one car garage. The condominium association has a clubhouse, a pool and a tennis court.
- 1756 Turnpike Street, Stoughton was on the market throughout the month of August, 2016 at $1,250,000. Turnpike Street is located in the Neighborhood Business (NB) Subdistrict which may be hampering its ability to be sold. No residential development is allowed, by-right, in the NB Subdistrict without approval by the Zoning Board of Appeals (ZBA).
- 0 Washington Street, Stoughton was listed at $135,000 and went under agreement on August 3rd, 2016. The property contains over 5 acres of land located in the General Business (GB) Subdistrict. The sale of Washington Street is anticipated to close on October 30th, 2016.
- No land sold in Stoughton during the month of August, 2016.
- Ore, A Love Story which is located at 434 Pearl Street, Stoughton went up for sale at $70,000 on August 18th, 2016. I had breakfast at Ore, A Love Story on Saturday, July 9th and the restaurant was nearly empty except for another couple of tables. The Portuguese Sweet Bread French Toast was excellent but my bill was almost $40 for two people. Isn’t The Farmer’s Daughter in Easton the obvious choice at that price range?
- 797 Washington Street, Stoughton went under agreement on August 1st, 2016. It was listed at $1,600,000. The anticipated sale date is October 14th, 2016. This sale includes the State Theatre but Friends of the State Theatre has a solid lease in place so the development of the State Theatre is still a possibility if Stoughton residents decide to more fully embrace the idea.
- 1044 Central Street, Unit 104, Stoughton sold for $80,000 on June 29th, 2016 according to the Norfolk County Registry of Deeds but the listing agent incorrectly input the sale date as August 1st, 2016 into Pinergy. Tsk, tsk… Central Street was a 1,036 square foot office condominium. I was looking at it myself. It was a steal.
Below is the complete list of condominiums and single families currently available for sale in Stoughton. Like one? Hub Edge Realty, LLC wants to sell it to you. Let’s talk…
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