Milford Massachusetts Real Estate Market April 2013
Milford MA Real Estate Activity For April 2013 vs April 2012
In April of 2013 there were 11 homes that closed within the month for Milford MA Real Estate. This is a decrease of 5 units, as there were 16 homes that closed in April of 2012.
The average list price for the homes that closed in April of 2012 was $226,494
The average list price for the homes that closed in April of 2013 was $234,800
The average sale price for the homes that closed in April of 2012 was $219,772
The average sale price for the homes that closed in April of 2013 was $245,273
The average market time for the homes that closed in April of 2012 was 115 days.
The average market time for the homes that closed in April of 2013 was 98 days.
Homes Under Contract For April 2013
28 homes went under agreement in the month of April. The average list price of the homes that went under agreement was $318,217. The average time on the market for these homes were 80 days.
January 2010 – 2012 Final Year Real Estate Market Statistics For Milford Massachusetts
For the period of January to December of 2012 there were 203 properties sold.
For the period of January to December of 2011 there were 165 properties sold.
For the period of January to December 2010 there were 149 properties sold.
For the period of January to December in 2012 the average list price was $259,845 the average sale price was 252,034 the average market time was 97 days.
For the period of January to December in 2011 the average list price was $262,835 the average sale price was $254,209 and the average market time was 130 days.
For the period of January to December in 2010 the average list price was $281,934 the average sale price was $272,450 and the average time on the market was 87 days.
Current Homes For Sale March Inventory Levels
The are currently 73 homes on the market. The average list price of these homes is $295,769. The average days on the market is 91. Inventory levels have continued to be lower than they have been over the last few years as we enter May.
Milford MA Real Estate Market Analysis
In 2012 the Milford Real Estate market had a substantial increase in the amount of homes sold as compared to 2011. In fact it was close to a 20% gain in the number of sales! Homes priced properly generally went under contract in under 90 days. There was a downward trend in Real Estate values through out the first half of the year but stabilized as we moved toward the latter half of the year. This was due to inventory levels dropping as housing demand remained fluid. The average days on market decreased quite a bit over the prior year. The lower end of the market (under 300k) remained very strong with values holding firmer than in the upper ends of the Milford market.
Current home inventory levels started to decrease over the latter half of last year and have remained so as we head into May. Home inventory did bump up a bit over last month but remains low when compared to the last few years. It is not unusual at all to have over 100 homes on the market at any given time. With 73 homes for sale at the moment, there is a shortage of housing for sale! This is always a good sign for those considering to sell their home as supply and demand is always a factor with Real Estate values. The real estate market should remain strong throughout the Spring for sellers!
The real estate market for the year fared much better than last. In 2012 there were 203 sales for the year! In 2011 there were 165. This was about a 20% jump over the prior year for the number of sales. All indication are we could be near a market bottom.
April was down for the amount of sales when compared to the same month last year with five less. The amount of homes that went under contract (twenty eight) was exceptional. At some price points where inventory has been low there have been bidding wars with homes going on deposit almost immediately. The market as a whole has gotten a lot more vibrant when compared to the last few years.
So far in 2013 there have been 48 sales. At this same point in time last year there were 46 home sales.
To learn more about Milford Massachusetts see the Milford community guide.
The above Milford Real Estate statistics are for single family homes ONLY and do not include condominiums or multi family homes.
Click the link to see all Milford MA homes for sale.