Buyers seem to love Milton MA homes. Located just 10 miles from Boston, Milton MA is the perfect place to get away from the hustle and bustle while remaining just a stone's throw from the big city. July 2014 home sales in Milton MA indicate that people continue to turn to this lovely community to find their dream home.
According to the MLS Property Information Network, a total of 31 single-family Milton MA homes were sold in July 2014. That is 10.7% higher than the same time last year. These homes ranged from a 4 bed/1.5 bath, 1097 square foot, Cape-style home that sold for $345,000 in 24 days all the way up to an 8 bed/7 full & 3 half bath, 9320 square foot, renovated Colonial-style estate home that sold for $2,376,000.
The average asking price for a Milton MA home saw a 23.4% increase from the same time last year (from $549,857 in July 2013 to $678,781 in July 2014). If you factor out the three $1M+ homes that sold last month, the average sale price for a Milton MA single-family home was $585,115.
Properties are selling quickly, too. In fact, 15 of the 31 total single-family homes sold in Milton MA during July 2014 spent less than 30 days on market. One home sold for list price in two days while two others sold over the listing price in just one day! Overall, the average time a Milton MA home spent on the market was 49 days, which was up from the average 40 days on market in July 2013. The list price to sale price ratio remained exactly the same as last year at 99%.
I know what you're asking. So, what does this mean for me, the Milton MA home buyer? Prices are continuing to increase and demand is high in all price points. When you find that Milton MA home you want, you need to be prepared to make a serious offer as soon as possible before someone else comes along and grabs it. When you're ready to start looking for your next home, contact your Milton MA Buyer Broker right away.
*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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