Milford Massachusetts Real Estate Market January 2014
Want to see what has gone on in the Milford Real Estate market for January along with year over year comparisons? Check out our reporting of the Milford MA market below. While you are here you can also see the Realtors guide to Milford MA Real Estate is a popular choice for home buyers including information on town history, schools, demographics and more.
Milford MA Real Estate Activity For January 2014 vs January 2013
In January of 2014 there were 16 homes that closed within the month for Milford MA Real Estate. This is an decrease of 10 units, as there were 6 homes that closed in January of 2013.
The average list price for the homes that closed in January of 2013 was $253,531
The average list price for the homes that closed in January of 2014 was $247,550
The average sale price for the homes that closed in January of 2013 was $243,194
The average sale price for the homes that closed in January of 2014 was $236,900
The average market time for the homes that closed in January of 2013 was 168 days.
The average market time for the homes that closed in January of 2014 was 58 days.
Homes Under Contract For January 2014
5 homes went under agreement in the month of January. The average list price of the homes that went under agreement was $285,540. The average time on the market for these homes were 65 days. Milford had an off month for homes going under contract although at this time a year it is not all that uncommon.
January 2011 – 2013 Final Year Real Estate Market Statistics For Milford Massachusetts
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 2011 there were 165 properties sold.
For the period of January to December in 2012 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.
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 time on the market was 130 days.
Current Homes For Sale January Inventory Levels
The are currently 50 homes on the market. The average list price of these homes is $316540. The average days on the market is 136. Inventory of homes for sale has been hovering around 50-55 homes for sale over the last couple of months. The amount of homes for sale has now hit the low point for the past year as we head into February.
Milford MA Real Estate Market 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. As we head into the early stages of 2014 the market is still characterized by a very low number of homes for sale. This bodes well for those who are thinking of selling in Milford.
Current home inventory levels were low throughout most of 2o13. As we head into February not much has changed with the number of properties for sale in the 50’s. From a historic perspective that is an incredibly low number as Milford for many years had over a hundred homes for sale at any given time.
Low inventory is always a good sign for those considering to sell their home as supply and demand is always a factor with Real Estate values. Looking ahead we are in a similar position as last year at this time when inventory was low. Unless the economy becomes much weaker we could be looking at a similar scenario to last year when home sales were exceptionally strong in the Spring.
The amount of transactions for January was off substantially from last year with ten less sales. The amount of homes that went under contract (five) was also well of the pace of what we have been used to. This is partially due to seasonality in real estate but the lack of homes for sale also played a factor. This is the time of year when sales figures tend to be at their lowest.
For 2014 Milford finished the year with 211 sales. The year before there were 203 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 Massachusetts homes for sale.