July 2020 Sales Report
Milton Real Estate sales increased again July 2020; the the number of sales up 29 percent from June 2020. Average home price has remained steady across the board for all home types last month, but where we have seen a jump is the 12 percent increase from June 2019 in the average sales price.
CLICK HERE to download the full breakdown for July 2020.
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 are 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.
Interested in knowing what your home is worth in today’s market? CLICK HERE to find out how much you can get for your home.