The cold winters have really taken a toll on Milton MA real estate. Yet again, the polar vortex has plunged the Northeast into sub-zero weather, burying us under several inches of snow. Here is your Milton MA Home Sales Update for February 2015.
According to the MLS Property Information Network, there were a total of nine Milton MA homes sold in February 2015. While this is a significant drop from the 20 homes sold last month, it is the exact same amount as those sold in February 2014. Nine seems to be a magical number for the Milton MA market this month. Both the lowest priced home (a 1500 sq ft Colonial that sold for $350,000) and the highest priced home (a 2556 sq ft Columbine Colonial that sold for $890,000) were purchased after just nine days on the market.
While total sales have remained steady, prices continue their steady climb upward. The average sale price of a Milton MA home was $638,611, a 27.3% increase from the same time last year. The average time a home spent on the market before receiving an offer was 50 days, a 31.5% decrease from February 2015. The average list price to sale price ratio increased from 96% in 2014 to 98% last month.
What does this all mean for the Milton MA Buyer? Temperatures are not the only things cooling off. Several inches of snow can keep many Buyers stuck inside their current homes rather than looking for a new one. This means less competition among Buyers. If you're willing to make the trek out in this weather, I'm more than happy to join you. When you are ready to start looking for your next property, contact your Milton MA Buyer Broker.
Learn more about Milton MA in the Milton Real Estate & Community Guide.
*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.