Milford MA Real Estate Market Report February 2013

Milford Massachusetts Real Estate Market February 2013

Milford MA Real Estate

 

 

 

 

 

Milford MA Real Estate Activity For February 2013 vs February 2012

In February of 2013 there were 8 homes that closed within the month for  Milford MA Real Estate. This is a decrease of 1 unit, as there were 7 homes that closed in February of 2012.

The Average list price for the homes that closed in February of 2012 was $268,925

The Average list price for the homes that closed in February of 2013 was $270,229

The Average sale price for the homes that closed in February of 2012 was $259,625

The Average sale price for the homes that closed in February of 2013 was $264,414

The Average Market time for the homes that closed in February of 2012 was 106 days.

The Average Market time for the homes that closed in February of 2013 was 89 days.

 Homes Under Contract For February 2013

7 homes went under agreement in the month of February. The average list price of the homes that went under agreement was $246,357. The average time on the market for these homes were 86 days.

January 2010 – 2012 Final Year Real Estate Market Statistics For Milford Massachusetts

In Milford MA for the period of January to December of 2012 there were 203 properties sold.

In Milford MA for the period of January to December of 2011 there were 165 properties sold.

In Milford MA for the period of January to December 2010 there were 149 properties sold.

In Milford MA 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.

In Milford MA 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.

In Milford MA 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 Home For Sale Inventory Levels

The are currently 52 homes on the market. The average list price of these homes is $294,957. The average days on the market is 131. Inventory levels have continued to be at extremely low levels as we enter March.

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 remained low from the latter half of the year into March of this year. Home inventory is as low as it has been in a very long time. It is not unusual at all to have over 100 homes on the market at any given time. With close to half of that right now there is an extreme 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. It should be an excellent 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. February was right on par for sales as compared with the number of home sales that took place in February of 2012. The amount of homes that went under contract (seven) was average for this time of year.

So far in 2013 there have been 23 sales. At this same point in time last year there were 18 home sales.

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.

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