Jalaj’s Market Update for October 2020


Hi there folks, with just about couple of months left for 2020, Milton’s real estate market is still setting records. The torrid pace of price increases that started back in June, still continues with the numbers for October coming in 18% higher than October of 2019. Along with that, the year to date average sale price outpaced the numbers from 2019 by 14%. This unprecedented increase has been mainly fueled by low interest rates, high demand for single family homes heightened more so recently by the suburban sprawl and constrained supply levels. Usually in the latter part of the year, we start to see fewer homes getting listed for sale. However, for month of October we saw 29% more listings coming up on the market compared to 2019October. 50% more sales compared to same time last year, shows us the market is still very strong and active. In addition, with total of 152total active listings this past month, we had just about half a month of inventory, putting us in Seller’s market with 87% sold to new listing ratio. You all take care and we will talk soon.