Milton MA Market Report for the Third Quarter of 2011
With the end of September, we came to the end of the third quarter of 2011. The end of a quarter is a good time to look back and see how the real estate market performed both over the quarter and year to date. I have shown you the Third Quarter Market Report for Stoughton MA and the Third Quarter Market Report for Canton MA. Now it is time to check on Milton, MA. All data below was obtained from the MLS Property Information Network, Inc.
For the period of July 1, 2011 through September 30, 2011, there were 74 homes sold in Milton MA. Year to date through September 30, 2011, there have been 166 homes sold in Milton MA. The average number of days on the market for the entire three quarters was 105.
How does that compare to last year? For July 1, 2010 through September 30, 2010, there were 58 homes sold in Milton, MA. For the first three quarters of 2010, there were a total of 1664 homes sold in Milton, MA. The average number of days on the market for that same period was 113.
Comparison of 2010 and 2011 time periods are shown in the charts below.
While many other towns (including Stoughton and Canton) saw fewer home sales in the first three quarters of 2011 compared to 2010, Milton held steady in the overall number of home sales and decreased the number of days on the market. At minimum, it shows a steady real estate market in Milton. Furthermore, 2011 showed a steady inrease of sales over each quarter. Also, remember that the Federal tax credit for home buyers was still in effect for transactions closed by the end of September, 2010, so it is even more encouraging that Milton's home sales held steady year to year.
As for average sales price, that dropped slightly from 2010 to 2011. However the tax credit could have impacted these numbers, but that data also matches what we have seen in other communities.
The good news in this is for home buyers looking to buy a home in Milton MA, the low prices combined with the still historic low interest rates make it a good time to buy, assuming you are looking for a long-term place to call home, rather than a quick investment. The last quarter will show us if home prices may be on the rebound. Furthermore, the numbers indicate that the real estate market in Milton MA is holding its own and even improving slightly. Milton historically has had a rather steady real estate market and that is one of the factors considered when it was named Second Best Small Town to Live in the United States.
If you are considering purchasing a single family home in Milton MA, it is important to have your own, independent representation. Contact your exclusive buyer agent at Buyers Brokers Only to help you through the home search process in Milton MA and throughout Norfolk County.