Milford Home Sales Update Covering Feb 2017

Milford Home Sales Update Covering Feb 2017 | Clermont Homes For Sale | Miami Township

Home Sales In The Milford School District | Miami Township

Wow!  A huge jump in pending homes for February.  January only had 69 homes under contract, waiting to close.  February jumped to 110 homes under contract!   That is a great amount of activity and bodes well for the MilfordMilford home sales home sales numbers to come out for the month of March.  Other numbers remained fairly close.

Something to keep an eye on is what the Fed will do with interest rates.  With the economy gaining strength and expectations continuing to be positive, a small jump can happen at any time with the potential for a larger increase later in the year.  What is important to understand is that an interest rate increase will impact buying power more than an increase in sale prices.  It reduces the amount of home a buyer can purchase and keep their monthly payments the same.  Bottom line, delaying a purchase can cost a buyer either more in their monthly payments or cause them to have to buy “down” to a smaller or less expensive home.

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Milford School District Market Update (Each month is the previous 6 months totals & averages)

 Active ListingsPending ListingsSold ListingsAvg List PriceAvg Sold Price% of List
To Sale Price
Absorption Rate
> 6 = Buyer's Market
< 5 = Seller's Market
Avg Days
On Market
January, 20177569284$311,690$225,16497.71%3.028
February, 201772110256$322,054$220,53797.27%4.329
March, 201773100257$313,552$212,24597.56%428
April, 201773113255$337,389$218,19497.76%4.428
May, 2017107117273$334,048$218,14898%4.9228
June, 201710195314$331,422$222,55898.26%3.7525
July, 201710797339$323,223$228,95198.33%3.623
August, 20179379324$317,147$242,94498.42%3.223
September, 20178884327$327,060$245,23898.29%3.222
October, 2017
November, 20176555350$311,357$235,97897.93%2.124
December, 20176434309$315,098$230,38697.80%226