Feb. 6, 2009 - Milton Real Estate Market Update

In looking at this week's numbers, it is quite a change in the number of properties that have been taken off the market - 28 listings expired or were cancelled in the past week, representing 8.2% of the available listings. There were a total of 7 properties sold, plus another 7 that went under a lease contract.

The busiest segments of the market this week were the price ranges of $275,000 to $300,000,  and $325,000 to $350,000, with 2 sales each. There were no sales over $375,000.

In terms of market supply, which is the most important factor to consider, we have approximately a one year supply of houses on the market right now. That means that if conditions stay the same and no new properties come onto the market, it will take a year to sell the available inventory.

It's called a Buyer's Market for a reason.

We have to apologize for the delay in posting the final 2008 Statistics - our MLS provider is experiencing a few challenges with the statistical module of the software and has been delayed in providing this information.

Look for a month-to-month update to also be available once the statistical module is working. In the meantime, we will continue compiling our weekly TMO by manually entering the data, listing by listing, into a spreadsheet and calculating for your benefit.