Milford Massachusetts Real Estate Market December 2014
Would you like to see what has gone on in the Milford Real Estate market for December along with year over year comparisons? Check out our reporting of the Milford MA market below. While you are looking over the Milford real estate report be sure to take a look at the Real Estate agents guide to Milford Mass, where you will see why the town is a popular choice for home buyers including information on town history, schools, demographics and more.
Milford MA Real Estate Activity For December 2014 vs December 2013
In December of 2014 there were 20 homes that closed within the month for Milford MA Real Estate. This is an increase of 5 units, as there were 15 homes that closed in December of 2013.
The average list price for the homes that closed in December of 2013 was $314,973
The average list price for the homes that closed in December of 2014 was $304,485
The average sale price for the homes that closed in December of 2013 was $308,720
The average sale price for the homes that closed in December of 2014 was $296,243
The average market time for the homes that closed in December of 2013 was 88 days.
The average market time for the homes that closed in December of 2014 was 82 days.
Homes Under Contract For December 2014
10 homes went under agreement in the month of December. The average list price of the homes that went under agreement was $298,819. The average time on the market for these homes were 128 days.
January 2012 – 2014 Final Year Real Estate Market Statistics For Milford Massachusetts
For the period of January to December 2014 there were 203 properties sold.
For the period of January to December of 2013 there were 211 properties sold.
For the period of January to December of 2012 there were 203 properties sold.
For the period of January to December in 2014 the average list price was $293,475 the average sale price was $286,866 the average market time was 89 days.
For the period of January to December in 2013 the average list price was $286,724 the average sale price was 278,100 the average market time was 84 days.
For the period of January to December in 2012 the average list price was $259,845 the average sale price was $252,034 and the average market time was 97 days.
Current Homes For Sale December Inventory Levels
The are currently 24 homes on the market. The average list price of these homes is $257,350. The average days on the market is 134. Inventory of homes for sale dropped by a substantial amount from last month when there 43 homes available for purchase. This is the second consecutive month with such a huge drop in the number of homes for sale. There are a number of people who will take their home off the market and try again in the Spring. With only 24 homes for sale this is the lowest amount of properties for sale I have seen in Milford for the twenty eight years I have been selling real estate.
Milford MA Real Estate Market Analysis
2013 Milford Real Estate Analysis
In 2013 the Milford Real Estate market had a small increase in the amount of homes sold as compared to 2012. While the amount of homes that sold in the calender year was not that much different the strength of the market was certainly there. Not only were home selling much quicker but there was a pretty sizable gain in home values.
Most of the strength in the market occurred in the first couple quarters of the year. The Spring market last year was very favorable with home that were priced accurately selling very quickly. In a number of cases there were actually homes selling over asking prices with multiple bids. Like many of the other towns in the area, the Milford real estate market saw a complete turn around from previous years.
The market over the latter half of the year become more balanced with home taking longer to sell than the frenzied pace of the Spring.
Current 2014 Milford Real Estate Analysis
The amount of transactions for November was quite a bit better than last year with five additional sales. This is an uptick from the previous two months which showed a decrease in sales. The Milford real estate market this year pretty much mirrored last year. There was a difference of eight less sales for the year.
Showing activity has slowed considerably but that is not at all unexpected for this time of year. With inventory at record lows the spring is poised to be a good for home sellers. Similar to previous years homes in high demand price points should sell very quickly. The next couple months will probably be slower with fewer sales but that will change quickly as we get closer to Spring.
Overall the market favors sellers with inventory easily staying in line with current demand for homes. Milford continues a great place for first time home buyers with the majority of homes for sale falling under $350,000.
Sales year to date vs last year
This year Milford finished with 203 sales. This was down slightly from last year when there were 211.
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 Mass homes for sale.