Milton Real Estate Watch | June 2021
Milton Real Estate Watch for June 2021
June home sales were up compared to last year, but remained below the March 2021 peak and were lower than the number of transactions reported for May 2021, consistent with the regular seasonal trend.
TRREB’s MLS® System reported that 279 homes were sold in Milton last month, down from 310 in May but up marginally from 251 last June.
The average selling price of a home in June was $1,035,349, a drop from $1,0632,600 the month before and an increase from $833,527 a year ago.
Those on the hunt for a home had fewer properties to chose from in June as the number of new listings decreased by almost 14 per cent to 381 in June from 434 in May. They totalled 357 in June 2020.
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 June 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 June 2021 Market Data? Reach out to us at [email protected] .
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