First Quarter Milton Real Estate Market Report

It is time to look at the real estate market in Milton for first quarter of 2013. From January 1, 2013 - March 31, 2013, there were 29 single family homes sold in Milton*. 

The lowest priced home sold for $125,00.00 and the highest priced home sold for $1,225,000.00. The average sales price for this period was $557,000.00.   The first quarter of 2013 saw the lowest number of sales in Milton MA for the past five years.  The first chart shows home sales in Milton for the first quarter over the past five years.   

It has been such a busy real estate market so you're wondering, why are sales down?  

The reason is simple.  It is the low inventory that is a problem throughout our local markets, and from what I am hearing, across the country.  Low inventory and high demand has made it a Seller's market and that translated to an increase in prices in Milton for the first quarter of 2013 over the first quarter of 2012.  

Low inventory may be caused, in part, from homeowners who bought at the peak of the market and are waiting for prices to continue to increase to previous levels. However as prices inch up, more inventory should come on the market.  

*All data is courtesy of the MLS Property Information Network, Inc. Homes sold outside of the MLS are not inlcuded in those numbers.

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About the Author: Christine Smith is a Realtor, Buyer's Agent, Attorney, social media fan, parent and Canton resident. She writes about real estate and events in the Canton area on her blog – Canton MA Events and Real Estate