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May 2020 Milton Real Estate Market Data

May-2020-Monthly-Stats

May 2020 Sales Report

We’ve seen a little bit of a comeback in May! Milton region home listings dropped considerably for the month of April, but there has been in increase in sales and average price for May. The average overall sales were up 35 percent compared to April 2020.

Milton Real Estate Stats breakdown May 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.

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.

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.

Looking to buy? Have a look at current listings. Questions about the December 2019 Market Data? Reach out to us at homes@amyflowers.ca.

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