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For .pdf version, please click here: Milton Monthly Newsletter – December 2019
‘Tis the season!
Milton’s 156 residential sales in November 2019 represent a substantial rise of 31.1% in volume over the depleted amount recorded just a year ago. They also represent a strong 9.4% increase over the price from the same period. Normal inventory for this time of year is roughly 1.5-2months of supply and with only 2.5 weeks of supply on the market right now, these stats are no surprise. 30% of all properties sold last month sold for over asking, with over 99% of list being the average price paid.
While the real estate season is starting to slow down (at least in terms of units sold), we are still seeing product in the sub-800k price point move quickly. If you are considering upsizing, now may be a good time to look into it. The market for homes over the 950k mark is often a little softer come this time of the year, and now is no exception. With interest rates potentially falling early next year, and supply at dangerously low levels, the Spring could be a crazy one in terms of price increase and bidding wars.
We’d like to use this opportunity to wish all our readers and friends a happy holiday season. We have had a fantastic year and would like to thank not only our clients, but anyone who takes the time to read this newsletter.
Your local Real Estate professionals,
Kyle and Jay