Monday, April 1, 2019 / by Zoethout Alisha
It’s here, the most comprehensive Real Estate Market Data report for March 2019 for the Town of Milton.
There were 194 residential sales here in Milton for March 2019 representing a 35% increase in volume when compared to February 2019. The average sale price of $717,432 up 3% when compared to the figure a year ago and on par from the previous month.
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 a drop in median sale prices over time as home owners adjust their expectations to the current market conditions.
A sellers 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.