Milford MA Real Estate Market Report November 2014

Milford Massachusetts Real Estate Market November 2014

Would you like to see what has gone on in the Milford Real Estate market for November 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 Realtor guide to Milford Mass real estate, 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

 

 

 

 

 

Milford MA Real Estate Activity For November 2014 vs November 2013

In November of 2014 there were 10 homes that closed within the month for Milford MA Real Estate. This is a decrease of 7 units, as there were 17 homes that closed in November of 2013.

The average list price for the homes that closed in November of 2013 was $313,719

The average list price for the homes that closed in November of 2014 was $325,690

The average sale price for the homes that closed in November of 2013 was $307,700

The average sale price for the homes that closed in November of 2014 was $325,100

The average market time for the homes that closed in November of 2013 was 68 days.

The average market time for the homes that closed in November of 2014 was 89 days.

Homes Under Contract For November 2014

10 homes went under agreement in the month of November. The average list price of the homes that went under agreement was $309,900. The average time on the market for these homes were 94 days.

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 November Inventory Levels

The are currently 43 homes on the market. The average list price of these homes is $270,558. The average days on the market is 117. Inventory of homes for sale dropped by a substantial amount from last month when there 56 available for purchase. Some of this is due to the fact homeowners take their property off the market and try again in the spring.

Milford MA Real Estate Market Analysis

2013 Milford Real Estate 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.

For 2013 Milford finished the year with 211 sales. The year before there were 203 home sales.

Current 2014 Milford Real Estate Analysis

The amount of transactions for November was much smaller than last year. This is the second month in a row where sales were down significantly compared to last year.  There were 17 sales last year vs only 1o this November. The market this year has been similar to last for most of the year although with the past two months drop in activity last year is beating this years amount of homes sold.

There has been a significant drop in showing activity recently. This is not all that uncommon for the time of year we are in. The 4th quarter is usually the slowest time of the year for home sales.

The amount of homes that went under agreement (ten) was fair given the time of year.

Overall the market favors sellers with inventory easily staying in line with current demand for homes. Milford continues a great place for first time home buyers with the majority of homes for sale falling under $350,000.

As we head into December I expect activity to slow even further as it traditionally does as we approach the holidays.

Sales year to date vs last year

There have been 196 sales so far this year though November. At this same point in time last year there were 181 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 Mass homes for sale.

 

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