Milford Massachusetts Real Estate Market May 2015
Would you like to see what has gone on in the Milford Real Estate market for May 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 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 May 2015 vs May 2014
In May of 2015 there were 20 homes that closed within the month for Milford MA Real Estate. This is the same amount of units, as there were 20 homes that closed in May of 2014.
The average list price for the homes that closed in May of 2014 was $285,636
The average list price for the homes that closed in May of 2015 was $328,950
The average sale price for the homes that closed in May of 2014 was $280,677
The average sale price for the homes that closed in May of 2015 was $323,400
The average market time for the homes that closed in May of 2014 was 86 days.
The average market time for the homes that closed in May of 2015 was 73 days.
Homes Under Contract For May 2015
14 homes went under agreement in the month of May. The average list price of the homes that went under agreement was $316,654. The average time on the market for these homes were 63 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 May Inventory Levels
The are currently 39 homes on the market. The average list price of these homes is $337,044. The average days on the market is 54. Inventory of homes for sale increased from last month when there 31 homes available for purchase. Inventory had been trending upward over the last two months as is usually the case for this time of year. Expect inventory to continue to rise slightly from where levels stand right now.
Milford MA Real Estate Market Analysis
Current Milford Real Estate Analysis
The amount of transactions for May was right on par with last year at this time with an identical 20 homes sold. Milford has been running pretty much on pace as last year for the amount of transactions. Pending sales were also good with fourteen going under contract. Given how few homes there are on the market this was not bad.
Inventory of homes available for purchase remains at significantly lower levels that we have seen historically. This makes it a great time to sell as home that are priced correctly generally sell quickly. I expect inventory will continue to increase over the next few months but nothing out of control. The amount of sales have remained in lock step with new properties coming on the market.
Buyers have to be careful when they find a home they like with inventory remaining so tight. Often times there is competition for homes that are in attractive price points. Be prepared to move quickly when finding a home that suits your needs.
Milford continues a great place for first time home buyers with the majority of homes for sale falling under $350,000.
Year to date there have been 65 sales which is slightly below last year at this time when there were 70 sales.
Sales for 2014 vs 2013
For 2014 Milford finished with 203 sales. This was down slightly from 2013 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.