Milton, MA 02186 Single Family Housing Report November 2011

Milton, MA 02186 Single Family Housing Report November 2011. With 138 homes on the market in November spread out through Active, Under Agreement, SOLD, Canceled and Expired it has been a busy month.  The statistics show and the media has reported that things are settling down in the market. Although there are still foreclosures to come on the market, there is a stability in pricing. What this translates to is that don’t expect to get a home for way under value, the houses are priced right for their value and the List Price to Sale Price has been and is somewhat stable for a buyers market.  To the numbers we go.

Single Family Active Listings: 82    Avg. Liv.Area SqFt: 2,978.71     Avg. List$: $769,083    Avg. List$/SqFt: $256     Avg. DOM: 153.88   

Single Family Under Agreement Listings: 19    Avg. Liv.Area SqFt: 2,177.67     Avg. List$: $513,095    Avg. List$/SqFt: $239     Avg. DOM: 86.63   

Single Family Sold Listings: 21    Avg. Liv.Area SqFt: 2,030.14     Avg. List$: $496,153    Avg. List$/SqFt: $251     Avg. DOM: 116.62    Avg. Sale$: $479,133   Avg. Sale$/SqFt: $243

On further look at the Active versus Under Agreement numbers you see that the Sale price and average Days on Marked for the Actives are twice what the price and DOM are for the Under Agreements.  People are searching for affordable and starter homes.  There is a market in this price range that is very normal.  The Sold’s fall in between the DOM with the price point being closer to the UAG listings.  If you have a home in this price range you are in the sweet spot. The Average List Price to Sale price is a healthy 96%.

Single Family Expired Listings: 12    Avg. Liv.Area SqFt: 2,825.92     Avg. List$: $573,567    Avg. List$/SqFt: $218     Avg. DOM: 221.75   

Single Family Canceled Listings: 4    Avg. Liv.Area SqFt: 5,033.75     Avg. List$: $1,246,250    Avg. List$/SqFt: $239     Avg. DOM: 252.75   

Higher numbers than the sweet spot in this area.  It takes a better agent to sell a home in the higher range. They have to agressively market the home on the internet and using traditional methods. If your agent has no strategy in this regard, you simply have the wrong agent.  It is not the economy, stupid, it is the way you market the property to the right people