Milton Real Estate Watch | July 2021
Milton Real Estate Watch for July 2021
The number of homes hitting the market this July slowed from the previous month, but it is still a sellers market with the number of sales staying close to the amount of new inventory.
TRREB’s MLS® System reported that 246 homes were sold in Milton last month, down from 279 in June and down from 299 last June.
The average selling price of a home in July was $1,016,783 a slight drop from $1,035,349 the month before and an increase of 17 per cent a year ago.
Click the link below to check out the full breakdown of what happened in Milton real estate market for June 2021.
To download the full breakdown for July 2021
CLICK HERE
Whether you are considering selling, refinancing or just staying put in your home, now is the time to get a home evaluation! CLICK HERE to set up a FREE home evaluation to find out how much your home is worth in today’s market.
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 are 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.
Looking to buy? Have a look at current listings . Questions about the July 2021 Market Data? Reach out to us at [email protected] .
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