The end of the month means its time for us to look back at the last 30 days and see what is happening locally in the Milton real estate market. All and all December finished up what was a great year in 2012 for real estate tallying 25 closed transactions on single family homes in Milton. We saw a bit higher average days on market which in a vaccuum might seem like a bad thing but in this case we're just seeing properties that have been on the market finally be bought as inventory remains low.
The 25 sales of single family homes in Milton fall 1 shy of November's closings, which sat at 26, however, it marks an impressive turnaround from just a year ago as closings rose from 15 in December of 2011 to 25. This is indicative of not only a change in the Milton Real Estate market but also a change in the Greater Boston Real Estate market as well as inventory in many desirable areas is extremely low and those properties which are listed are snatched up quickly.
Unsurprisingly we saw properties priced between $400,000 and $600,000 perform well again, with an average days on market of under 3 months with some going with a few weeks. Again this just solidifies the over-arching rebound of the market in the past 12-18 months as what was once considered a buyer's market has been turned around completely by low inventory and an influx of buyer's chasing deals and low interest rates. We'll be back in February to break down what should be an active January!
Keller Williams Boston - Metro