Milford Massachusetts Real Estate Market Report May 2010
In May of 2010 there were 21 homes that closed within the month for Milford Massachusetts. This is an increase of 8 units, as there were 13 homes that closed in May of 2009.
The Average list price for the homes that closed in Milford for May of 2009 was $323,469
The Average list price for the homes that closed in Milford for May of 2010 was $289,098
The Average sale price for the homes that closed in Milford for May of 2009 was $315,154
The Average sale price for the homes that closed in Milford for May of 2010 was $281,224
The Average Market time for the homes that closed in Milford in May of 2009 was 107 days.
The Average Market time for the homes that closed in Milford May of 2010 was 49 days.
12 homes went under agreement in Milford MA in the month of May. The average list price of the homes that went under agreement was $270,141. The average time on the market for these Milford homes were 59 days.
January - December 2008 & 2009 Market Statistics for Milford Massachusetts
In Milford MA for the period of January to December of 2008 there were 196 properties sold.
In Milford MA for the period of January to December 2009 there were 172 properties sold.
In Milford MA for the period of January to December in 2008 the average list price was $290,813 the average sale price was $278,832 and the average market time was 165 days.
In Milford MA for the period of January to December in 2009 the average list price was $291,066 the average sale price was $280,552 and the average time on the market was 126 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 has been a trend towards the stabilization of market values. Although the number of home sales dropped in 2009 it was not by a substantial margin. 2008 was an exceptional year for the number of transactions to begin with due to a large drop in overall housing prices as well as a number of foreclosures and short sales that were further discounted.
Milford has become quite attractive to the 1st time home buyers segment due to a large stock of inventory in the lower price points.
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 five years. We are no longer in a seller's market.
When selling a home in Milford Mass, it pays to have a pro in your corner representing you. Here are some Real Estate interview questions to ask when interviewing your agent, that will help you determine if you are hiring a top producer or not!
** Almost 90% 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 Milford Massachusetts Real Estate Marketing. **
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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 24+ Years.
Thinking of selling your home? I have a passion for Real Estate and love to share my marketing expertise!
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Look s like more homes are selling, and selling far faster, because prices have come down. Funny how the market responds to lower prices.
Hi Bill, I have been watching your price trends for some time now and though the prices seem to adjusted downward, activity has picked up and things are leaving the market much faster. The increased demand may eventually also bring up the prices soon. Being affordable helps demand a lot ! :-) What's a good appreciation rate ( on average ) say over a 5 year period in Milford.
Bill - seems lie there are some positive trends in your spring market.
Jeff
Bill, it would seem that Milford, MA is in recovery mode, at least for now. We shall see how things shake out after the tax credit is finished with.
Great market reports Bill, easy to understand!
Bill - It looks like prices have reached a point in Milford where there's a significant number of homes selling much faster.
Thanks everyone for all your comments on my Milford Real Estate report.