Touted countless times as one of the most desirable towns to live in Massachusetts, Milton has always been a top location for prospective home buyers. Much like the hot real estate market statewide Milton has also seen a nice bounce recently. Today we’re looking at the single family home market in Boston’s neighbor to the South.
Milton’s single family market has had a strong past 3 months with a total of 83 closed transactions and an average sale price on these closings of $593,438. The 83 closings represent an increase of only 1 over the previous 3 month period while the $593,438 average sale price is up an astonishing $23,145 over the prior 3 months. This price increase represents a 4.1% jump in just one quarter’s time.
Average days on market have been cut to 46 days over the last 3 months, down from 88 days in the previous period. This huge decrease is partially attributable to older listings finally finding buyers as inventory dwindled in late spring and early summer, resulting in sales of homes which were originally listed months ago. In addition to the lower inventory, the increase in sales of older listings over the summer is also due to the group of buyers whose main objective was to close on a home before the beginning of the school year finally buying. As the summer winds down each year we begin to see this group of buyers become more amendable to purchasing homes that do not exactly fit their wishlist or need work. With the school year now upon us we see an inventory of only 64 single family homes in Milton, down from 77 on July 1st. In addition to this active inventory there is also a total of 42 listings with accepted offers, which are waiting to close.
Our final statistic today is Milton's list-to-sale ratio, which since July sits at a healthy 98%. This number has remained stagnant from the prior period as the market remains active and home’s sell quickly and for top dollar. To view the home’s currently available for sale in Milton click here. To receive an up to date home value for your home in Milton click here.