New listings and sales for December 2018 have decreased since December 2017.
Watch below to learn more:
Hey there guys, let’s get you caught up by giving you a recap of the Milton real estate market for 2018.
In terms of the new listings that came up on the market for 2018, we saw that number was down by about 17% over 2017. In terms of the total number of sales, we saw fewer sales as well, down by about 15% over 2017. In terms of the average sale price, the average sales price if you look at the graph, you will see the first half was down substantially, but we ended the year by about 4% reduction in prices over 2017.
Now the main reasons for this slow down in the market has been because of the introduction of the stress test, increasing interest rates, and also increased scrutiny for mortgage approval process.
As we move through 2019, we will see a market which is more stable and the prices will probably increase in the range of 2 to 4%.
If you have any questions, give us a call or message us. Thanks so much!