Jalaj’s Market Update for June 2020
Hi there guys what a year we’ve had so far! We started off the year with Milton’s real estate market on the way up, and then with the onset of COVID19, market started cooling off, but as of late things are starting to heat up again. What we are seeing is almost a V-shaped recovery for average sale price. Numbers for the month of June came in eight percent higher from just a month ago and seven percent higher from the same time last year. Year-to-date average sale price continues to trend higher than 2019. We ended the first half of 2020, eight percent higher. We are starting to see more and more homes getting listed for sale. We saw a staggering increase of 88% from just a month ago, but we are shy by two percent from same time last year. Demand for homes brought in the number of sales 92 percent higher from just a month ago and five percent higher from the same time last year. With more homes getting listed for sale, I feel the market is somewhat going to balance out as more choices become available for buyers. However, with record low interest rates, the number of sales will remain steady, which in turn will hold up the prices.