Jalaj’s Market Update for November 2020


Hi, guys! Yes, we are coming to end of 2020, a year that we all want to put behind us for obvious reasons. But in terms of Milton’s real estate, the number of sales are still coming in lockstep with the number of new listings, putting us in seller’s market. Even though we had 207 new listings which was up by 34% from November of 2019, the number of sales were also up by 33%. As you can see, this left us with half a month’s of inventory and with 100% sold to new listing ratio, in seller’s market. In essence, homes are getting sold as fast as they are getting listed. Resulting from these constrained supplies, is a spike of 17% in average sale price from 2019 November and 14% in terms of year to date numbers. Unless inventory levels start to go up, prices are going to continue to soar, especially in light of rollout of the vaccines to combat COVID-19. You all take care and we will talk soon.