Milford Massachusetts Real Estate Market December 2013
Want to see what has gone on in the Milford Real Estate market for December along with year over year comparisons? Check out all the data below and also learn why buying realty in Milford is a popular choice including information on town history, schools, demographics and more.
Milford MA Real Estate Activity For December 2013 vs December 2012
In December of 2013 there were 14 homes that closed within the month for Milford MA Real Estate. This is the same amount of units, as there were 14 homes that closed in December of 2012.
The average list price for the homes that closed in December of 2012 was $230,386
The average list price for the homes that closed in December of 2013 was $329,693
The average sale price for the homes that closed in December of 2012 was $220,382
The average sale price for the homes that closed in December of 2013 was $296,136
The average market time for the homes that closed in December of 2012 was 114 days.
The average market time for the homes that closed in December of 2013 was 91 days.
Homes Under Contract For December 2013
6 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $290,967. The average time on the market for these homes were 93 days. Milford had a slow month for homes going under agreement although for the December time frame that is not all that uncommon.
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 December Inventory Levels
The are currently 44 homes on the market. The average list price of these homes is $304,555. The average days on the market is 140. Inventory went down again from last month with nine less homes for sale. The amount of homes for sale has now hit the low point for the year as we enter January.
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.
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.
Current home inventory levels started to decrease over the latter half of last year and the pattern continued throughout most of 2o13. As we head into January, inventory levels are as low as I can remember in the twenty six years that I have been selling homes in Milford. The inventory is at ridiculously low levels.
There are now 44 homes for sale in Milford which from a historical perspective is much lower than I can ever remember. Under normal conditions Milford typically has over 100 homes for sale at any given time. The fact there are only 44 homes for sale should continue to make the housing market strong for home sellers. What I expect will happen as we move forward is much the same as last year when inventory started to drop. All indications are the Spring market should once again b great for home sellers and tough for buyers with extreme competition for good properties.
Low inventory is always a good sign for those considering to sell their home as supply and demand plays a big role with Real Estate values.
The amount of transactions for December was the same as last year when there were also 14 sales. The amount of homes that went under contract (six) however, was well off the pace of what we have been seeing.
Buyer activity has slowed considerably as we are in worst time of year to sell a home along with the fact there are not many homes for buyers to look at.
In 2013 there were a total of 210 sales which was seven better than last year when there were 203. While volume was only slightly better than last year home values went up year over year.
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 Massachusetts homes for sale.