Jalaj’s Market Update for May 2020


Hi there everyone, for the first time since the onset of this pandemic, we are seeing some positive signs in Milton’s real estate market. Let’s start by looking at the number of new listings. Here we saw 15% homes more getting listed for sale compared to April of this year, but we are still down by 58% in comparison to last year May. Thing that is driving this market is a high demand of homes and that is borne out in the number of sales, which came in 35% higher from April. But we are still lagging behind the numbers seen in 2019 May, by 52%. High demand of homes has resulted in a bounce back of the average sale price. We saw the prices come in 5% higher from April and 1% higher from the same time last year. Year-to-date average sale price is trending 8% higher from 2019. Low inventory and high demand has brought us back into seller’s market. We are seeing homes selling in multiple offers, without any conditions and over list price. It’s like our spring market just got pushed back by a couple of months. You all take care and we will talk soon.