Woodbridge home sales prices are at a five year high as marketing time for Woodbridge homes drops to a ten year low in 2017!
Woodbridge home marketing time hit a five year high in 2012 at 87 days to sell, but has continued to drop ever since. Significant increase in buyer demand, coupled with decreasing inventory in the last few years has pushed home marketing time in Woodbridge down to a median of just 45 days,a ten year low:
This higher demand for homes in Milford has caused not only time on market to drop, but prices to reach a five year high at $400,000!
The peak of the market in 2007 saw median prices at $525,000, while the markets lowest point since was just last year with a median sales price of $364,000.
Although 2017 has certainly proved to be a promising year for Woodbridge homeowners, upward movement has been slow and inconsistent, leaving many homeowners still struggling with negative equity. There are options for those who need to sell, but lack the equity to get out of the loan. And for those who have the time to wait it out - looks like things are headed your way!