The May 2015 Milton MA Home Sales Report showed the first decrease in year-over-year sales for 2015. Milton MA Buyers will be happy to learn that prices have gone down, too. Was last month's spike a fluke? Maybe.
Your May 2015 Milton MA Home Sales Report at a Glance
The MLS Property Information Network reported that a total of 23 Milton MA single-family homes were sold in May 2015. That is 64.3% higher than the previous month. However, it is 14.8% less than May 2014. Home sales have been steadily increasing since February of this year. And we are just now starting our busy season. Could they get even higher?
Now this is something Buyers are going to love to hear. The average sale price for a Milton MA home sold in May 2015 was $579,402. That is a 15.7% decrease from the same time last year. It is also a 29.2% decrease from the April 2015 average. One happy homeowner picked up a 3 bed/1 bath, 1570 square foot bungalow in East Milton for $250,000. This was $49,000 less than the list price. Even Buyers in the higher price points paid less. A 5 bed/3.5 bath, 5200 square foot property on just over one acre of land sold for $1,052,000. That was $43,000 less than list price. Another $1 million home sold in just 11 days.
What can the Milton MA Buyer glean from all this? Prices have come down. That's great. Higher sales means more possible competition. Talk to your Milton MA Buyer Broker to make sure you are ready to put in an offer when you find the house you want. Do you think the huge increase in the average sale price in April 2015 was a fluke? Let me know in the comments below.
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.
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Christine Smith is an Attorney and Exclusive Buyer Agent with over 25 years of experience in the real estate field.
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