Milford Massachusetts Real Estate Market July 2013
See what has gone on in the Milford Real Estate market for July along with year over year comparisons. Learn why buying real estate in Milford is a popular choice including information on town history, schools, demographics and more.
Milford MA Real Estate Activity For July 2013 vs July 2012
In July of 2013 there were 23 homes that closed within the month for Milford MA Real Estate. This is an increase of two units, as there were 21 homes that closed in July of 2012.
The average list price for the homes that closed in July of 2012 was $250,864
The average list price for the homes that closed in July of 2013 was $256,990
The average sale price for the homes that closed in July of 2012 was $244,276
The average sale price for the homes that closed in July of 2013 was $249,017
The average market time for the homes that closed in July of 2012 was 96 days.
The average market time for the homes that closed in July of 2013 was 62 days.
Homes Under Contract For July 2013
13 homes went under agreement in the month of July. The average list price of the homes that went under agreement was $308,261. The average time on the market for these homes were 44 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 July Inventory Levels
The are currently 72 homes on the market. The average list price of these homes is $316,853. The average days on the market is 108. Inventory increased slightly from last month but are still much lower than they have been over the last few years as we enter August.
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 August. Home inventory increased over last month by a fairly substantial amount with twelve additional homes now for sale. There are now 72 homes for sale in Milford which still is very low from a historical perspective. It is not unusual at all to have over 100 homes for sale at any given time. The fact there are only 72 homes for sale should continue to make the housing market strong for home sellers. 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 as we head out of Spring and into the Summer 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.
The amount of transactions for July was very similar to last year with an increase of two sales. The amount of homes that went under contract (thirteen) was average. We have seen a bit of a slow down in the amount of activity as we have left the Spring market and headed into Summer. In some pockets of the market where inventory has remained low, however, there have been bidding wars with homes going under contract almost immediately. The market as a whole was extremely active this Spring and looks to continue unless interest rates move substantially higher. The fact that inventory levels have remained low has caused increases in home values across the board.
So far in 2013 there have been 114 sales. At this same point in time last year there were 118 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.