Milford Massachusetts Real Estate Market November 2013
Want to see what has gone on in the Milford Real Estate market for November along with year over year comparisons? Check out all the data below and also learn why buying realty in Milford is a popular choice including information on town history, schools, demographics and more.
Milford MA Real Estate Activity For November 2013 vs November 2012
In November of 2013 there were 16 homes that closed within the month for Milford MA Real Estate. This is an increase of 3 units, as there were 13 homes that closed in November of 2012.
The average list price for the homes that closed in November of 2012 was $290,754
The average list price for the homes that closed in November of 2013 was $309,034
The average sale price for the homes that closed in November of 2012 was $280,096
The average sale price for the homes that closed in November of 2013 was $304,119
The average market time for the homes that closed in November of 2012 was 84 days.
The average market time for the homes that closed in October of 2013 was 60 days.
Homes Under Contract For November 2013
6 homes went under agreement in the month of November. The average list price of the homes that went under agreement was $317,250. The average time on the market for these homes were 120 days. Milford had an off month for homes going under contract although at this time a year it is not all that uncommon.
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 October Inventory Levels
The are currently 53 homes on the market. The average list price of these homes is $299,670. The average days on the market is 106. Inventory went down again from last month with four less homes for sale. The amount of homes for sale has now hit the low point for the year as we enter December.
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.
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.
Current home inventory levels started to decrease over the latter half of last year and the pattern continued throughout most of 2o13. As we head into December, inventory levels are at the lows for the year. It is absolutely amazing how few home there are for sale in town at the moment.
There are now 53 homes for sale in Milford which is at rock bottom inventory levels from a historical perspective. Under normal conditions Milford typically has over 100 homes for sale at any given time. The fact there are only 53 homes for sale should continue to make the housing market strong for home sellers. What I expect will happen as we move forward is much the same as last year when inventory started to drop. All indications are the Spring market should once again be promising for home sellers.
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.
The amount of transactions for November was slightly more than last year with three more sales. The amount of homes that went under contract (six) however, was well off the pace of what we have been seeing.
We have seen a bit of a slow down in the amount of buyer activity as we are in the middle of the worst time of year to sell a home where historically activity always slows down. In some pockets of the market where inventory has remained low, however, homes are still going under contract rather quickly.
So far in 2013 there have been 195 sales. At this same point in time last year there were also 189 home sales. From a volume stand point this year has only been slightly better than last.
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.