Indicators of a Weaker Milford, MA Actual Property Market in September 2022

Median costs, gross sales, and stock of single-family houses in Milford, Massachusetts, decreased in September 2022 on a year-over-year foundation, in keeping with knowledge compiled by the Massachusetts Affiliation of Realtors (MAR). 

Milford, MA Real Estate Market Shows Signs of Weakness in September 2022. In September, the median home value in Milford was $465,000, a 4 p.c decline in comparison with $482,500 in September 2021. Via September, dwelling costs rose 10 p.c to $506,000 from $461,000 throughout 2021’s first 10 months.

Competitors for houses cooled in September. In September 2021, homebuyers paid, on common, 103 p.c of the unique itemizing value and 106 p.c by means of September. Homebuyers paid, on common, just under 100% of the unique listing value in September 2022.  


A Deeper Dive into Milford, MA Actual Property Market


• Single-family dwelling gross sales dropped 42 p.c to fifteen offered properties in comparison with 26 closed transactions in September 2021. Via the primary 10 months of 2022, single-family dwelling gross sales fell 5 p.c to 166 in comparison with 174 throughout the identical interval final yr.

• Pending gross sales – houses underneath contract which have but to shut – fell 35 p.c to 11 in comparison with 17 in September 2021. 

• Single-family dwelling stock remained tight in September, with barely a couple of month of provide. About six months of stock is taken into account a balanced market between dwelling consumers and sellers.

• The variety of homes on the market dipped by two to 21 in September yr over yr. 


Milford, MA Condominium Costs Stronger


• The median condominium value jumped 11 p.c in September to $405,000 on 5 gross sales in comparison with $365,000 in September 2021, MAR reported. Via September, condominium costs fell 3 p.c to $352,000. 

• Condominium gross sales dropped 50 p.c in September. Via September, condominium models offered fell 21 p.c to 57.  

• The variety of condos in the marketplace elevated by one to seven. 

• The variety of months of provide of condominiums rose from about three weeks to 1 month in September. 

• Homebuyers paid, on common, 103 p.c of the unique itemizing value in comparison with 104 p.c in September 2021.

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