Friday, July 5, 2019 / by Zoethout Alisha
Milton region home prices slowed slightly from May to June with the number of sales dipping with an 11 percent decrease — however still showing a 17 percent year over year increase.
Semi-detached and detached homes continued to see the largest month over month sales, up 3 percent to a city average price for semi-detached homes $715,019 and detached house prices $965,132.
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.
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.