It appears that the cool down period is not quite over for Milton MA home sales. The 3rd Quarter of 2014 saw a slight decrease in sales from the same time last year while prices went up slightly. The reverse was true in October 2014. Here is a quick breakdown.
MLS Property Information Network reported that the total single-family Milton MA homes sold in October 2014 was 17. This was just one more than October 2013 and the highest October sales figures since 2011. A 3 bed/1 bath, 1128 square foot Cape-style home in East Milton sold for $245,000. The highest price paid in October was $1,150,000 for a 4 bed/3.5 bath, 4194 square foot Cape-style Brush Hill Lane home.
The average sale price for a Milton MA home last month was $563,529. This was 16% lower than last year but 1.3% higher than October 2012. Eight of the 17 total homes sold in October 2014 spent 30 days or less on the market. Nine of the homes sold were purchased for at or above list price. This bumped up the list price to sale price ratio to 99%.
Bottom line, Milton MA Buyers want to know how this information affects them. According to Bankrate.com's most recent stats, a 30 year fixed rate loan is 4.14%. An adjustable rate mortgage loan sits at 3.18%. That is the third week in a row that rates have increased. With real estate sales typically slowing down in the winter and prices decreasing, serious Buyers may want to go ahead and jump into the market now. When you are ready to start looking, contact your Milton MA Buyer Broker.
*All data used in this blog post is courtesy of the MLS Property Information Network, Inc. Homes sold outside of the MLS are not included in those numbers.
Christine Smith, Buyers Brokers Only LLC - Your Exclusive Buyer Agent in Norfolk County
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