Milford Massachusetts Real Estate Market Report May 2009
In May of 2009 there were 13 homes that closed within the month for Milford Massachusetts. This is a decrease of 11 units, as there were 24 homes that closed in May of 2008.
The Average list price for the homes that closed in Milford for May of 2008 was $318,304
The Average list price for the homes that closed in Milford for May of 2009 was $323,469
The Average sale price for the homes that closed in Milford for May of 2008 was $302,771
The Average sale price for the homes that closed in Milford for May of 2009 was $315,154
The Average Market time for the homes that closed in Milford in May of 2008 was 173 days.
The Average Market time for the homes that closed in Milford May of 2009 was 107 days.
15 homes went under agreement in Milford MA in the month of May. The average list price of the homes that went under agreement was $283,213 The average time on the market for these Milford homes were 193 days.
Through May there have been 48 homes that have sold in Milford. At this same time last year there were 78 homes that had closed.
January - December 2008 Market Statistics for Milford Massachusetts
In Milford MA for the period of January to December of 2007 there were 130 properties sold.
In Milford MA for the period of January to December 2008 there were 195 properties sold.
In Milford MA for the period of January to December in 2007 the average list price was $344,279 the average sale price was $333,875 and the average market time was 142 days.
In Milford MA for the period of January to December in 2008 the average list price was $291,792 the average sale price was $279,800 and the average time on the market was 165 days.
** The above statistics are for single family homes only and do not include condo's or Multi-family homes in Milford MA.
In comparing year over year longer term data for Milford Massachusetts, it appears that there is still a downward trend in the average sale price for homes, as well as an increase in the days on the market for the same period in Milford MA. There was however, a substantial increase in the number of properties sold in the January to December time frame in Milford MA year over year! Milford is one of the few towns in the area that has had substantially more homes sold in 2008. This is due in part to prices dropping rapidly along with a good stock of affordable homes.
Click here to see previous Milford MA Real Estate Market reports.
Selling a home in Milford Massachusetts or other Metrowest town is heavily dependant on pricing your home properly and picking an agent that will create an "online market presence" for your home. As a home seller, you need to be aware that the market in Milford and many other Metrowest communities has changed over the last three and a half years. We are no longer in a seller's market.
When selling a home in Milford MA, it pays to have a pro in your corner representing you. Here are some excellent Real Estate questions to ask when interviewing your agent, that will help you determine if you are hiring a top producer or not!
** 85% of all buyers are finding their homes on the Internet. See where I advertise on-line to give my clients a dominant interner presence at Metrowest MA Homes ~ How to effectively market to the masses on-line. **
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About the Author: This Milford Massachusetts Real Estate market report was provided by Bill Gassett, a
Nationally recognized leader in his field. Bill can be reached via email at billgassett@remaxexec.com or by phone at 508-435-5356. Bill has helped people move in and out of Milford MA and other Metrowest towns for the last 23+ Years.
Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!
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I service the following towns in Metrowest MA: Hopkinton, Milford, Upton, Southboro, Westboro, Ashland, Holliston, Mendon, Hopedale, Medway, Grafton, Northbridge, Uxbridge, and Framingham MA.
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Another great market report Bill. You are definitely the leader in Metrowest MA!!
Bill - It looks to me, like the tide is turning in your market from the first section of the report.
13 homes that closed within the month for Milford Massachusetts. This is a decrease of 11 units, as there were 24 homes that closed in May of 2008.
What? Isn't that contrary to what we're reading that the market has bottomed and real estate sales are improving???
Lenn - This is kind of an anomaly. The fact that there were 24 sales in May last year was because of a number of cheap bank owned properties that closed creating an inflated number. The market in Milford has been much more steady this year. This particular town has more bank owned and short sales than any other in the area.
Bill-Great Market Report for Milford, Mass. I love the format that you use!
Bill,
Do I see Milford starting to rebound? List price UP, Avg. Sale Price UP, DOM DOWN!! The one down side is the Number of closed properties being down.
Bill another nicely presented report. I like were at the end you reminded consumers what a difference correct pricing makes. Price it right and it will sell.
I like your market reports and the fact that you have links to other reports.
Bill I believe market reports are the real essence of blogging to the public and yours are very well done, Art
Excellent reports, as always, Bill, for anyone taking a look at the trends in the Milford Massachusetts Real Estate Market. I, too, was rather startled at what appeared to be a continuing decline in sales & dips in the average home price, until I read through the comments and learned of the rash of bank-owned homes that sold and threw the numbers off. I'm glad to learn the market here is actually strengthening.
Bill I was thinking the same thing as Lenn, so I was glad to see your explanation. It makes sense to me :)
Thanks again everyone for all your comments on my Milford Real Estate report.