The first quarter stats are in for Milton MA home sales and they are looking good. Homes in all price points are selling (including multi-million dollar properties). Even a slower February wasn't enough to chill the hotness that is the Milton MA real estate market.
From January 1st, 2014 to March 31st, 2014, a total of 37 Milton MA homes were sold. That's a 27.6% increase from the 1st quarter of 2013. These homes ranged from a 3 bed/1 bath 1056 square foot Cape-style home all the way up to a 6 bed/5+ bath 7808 square foot Colonial-style estate on almost 2 full acres of land. Of the 37 homes sold in Milton MA from January to March 2014, seven sold for more than $1 million dollars. The average sales price increased 19.4% over 1st quarter 2013 sales figures: from $557,500 last year to $665,700 this year.
The average days a Milton MA home stayed on the market before it sold increased 18.4% (from 98 in 2013 to 116 in 2014) while the list price to sale price ratio remained exactly the same (96%).
What does this mean for the Milton MA home buyer? It means that you're going to pay a little bit more this year than buyers had to pay last year. You'll also be waiting a little bit longer to begin your move into your new property. That's what happens when a market is as desirable as this. Keep in mind, though, that buying a Milton MA home now means that you could see your equity rise as prices go up. Waiting may mean paying more. So, when you're ready to start looking for your next home, 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.