Jalaj’s Market Update for August 2020


Hi guys, here we are headed into fall, but Milton’s real estate market feels like we are headed into summer months. With majority of the homes selling in multiple offers, inventory levels remain low. Even though the number of new listings were up by 55% this past month compared to same time last year, we ended the month with less than one month’s inventory and 80% sold to new listing ratio, puts us smack-dab in seller’s market. Yes, the number of listings were up, but so were the number of sales, they were up by 35% compared to August of 2019. With all this activity, month over month average sale price came in 17% higher from 2019 August. Looking back, even though we had couple of months of suppressed activity earlier in the year, the year-to-date average sale price is trending 11% higher from 2019. Undoubtedly no one anticipated that we will be where we are at the present time, with the number of new listings, number of sales and prices, substantially higher than what we had seen in April of this year. You all take care and we will talk soon.