The inclement weather we experienced here in the Northeast during the second quarter of 2014 seems to have kept many Milton MA home buyers indoors. Despite that setback, however, it looks like things are starting to heat up, just like our weather. Buyers are starting to hit the bricks to find their next Milton MA home.
Despite year-over-year decreases in home sales during April and May 2014, June sales rallied around for a total of 79 Milton MA single-family homes sold during the first quarter of 2014. That's the exact same amount as the second quarter of 2013. The homes sold between April and June 2014 ranged from a 3 bed/1.5 bath, 1446 square foot Colonial on Blue Hills Parkway that sold for $250,000 all the way up to a 4 bed/2 full/2 half bath, 6118 square foot Cape-style home in Indian Cliff Estates that sold for $1,400,000.
The average sales price for a Milton MA home increased by 6%, from $575,013 in 2013 to $609,671 in 2014. Of the 79 total Milton MA homes sold in the second quarter of 2014, 34 of them went for at or above the list price. This increased the list-price-to-sale-price ratio from 98% in 2013 to 100% in 2014. The average days a Milton MA home spent on the market decreased 30%, from 90 days in 2013 to just 63 days in 2014. One Milton MA home even sold for $1,190,000 after just six days on the market!
What does this mean for Milton MA home buyers? Competition for homes is tough at all price points. You need to be prepared before you even start looking at properties. Contact your Milton MA Buyer Broker to get started on your road to Milton MA home ownership.
*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.