It’s here, the most comprehensive Real Estate Market Data report for December 2019 for the Town of Milton…
Milton region home sales slowed considerably from November to December with the average sales price only marginally higher and the number of sales still showing a 12 percent year over year decrease.
The fourth quarter of the Town of Milton housing market heated up with a 33 per cent increase in sales and 1 per cent in average home price over the third quarter of this year.
Sales to new listing ratio
A real estate market never heads in just one direction. Several key factors can drastically influence the direction of the market including mortgage interest rates, employment levels/growth, investment growth, immigration and development. These factors can influence whether we are it is a buyer’s market or a seller’s market.
A buyer’s market exists when there significantly more homes for sale than there are buyers. The typical end results in a drop in median sale prices over time as homeowners adjust their expectations to the current market conditions.
A seller’s market typically exists when interest rates are low are there are plenty of qualified buyers and not as many homes for sale. Buyers must react quickly and often face multiple offer situations. Prices generally rise under these circumstances.
Thank you for checking out the December 2019 Milton Real Estate Market Data. The data can be confusing, what does it all mean?
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