September 2017 Milton Market Data

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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 significantly more homes for sale than there are buyers. The typical end results a drop in median sale prices over time as home owners adjust their expectations to the current market conditions.

A   sellers 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.

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