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Sold over asking!
Milton’s 242 residential sales in March 2016 represent a small increase of 3% in volume when put up against the volume of March 2016. Once again, average sale prices jumped a staggering 31.5% to $766,000 (almost 180k higher) than the average price a year ago. For the first part of the year, low inventory was a significant issue but we are starting to see more listings and are expecting a nicely balanced market mid-Spring.
Of the 242 listings sold in March, only 10(!) sold for under the asking price. The average sale:list price ratio was 113.3% or roughly $90,000 over the asking price on the average transaction. While this market has been a unique one in terms of pricing strategy versus the competition. As inventory balances, we anticipate a shift back to the old method of real listing prices in the coming months rather than “marketing” prices.
If you’re considering a move and don’t know how to best navigate, don’t hesitate to give us a call or send us an email. Things are always changing and it’s a good idea to have someone with their finger on the pulse of the market advising you.
Your local Real Estate professionals,
Kyle and Jay