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 Milford
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 Listings | Pending Listings | Sold Listings | Avg List Price | Avg Sold Price | % of List To Sale Price | Absorption Rate > 6 = Buyer's Market < 5 = Seller's Market | Avg Days On Market |
|
|---|---|---|---|---|---|---|---|---|
| January, 2017 | 75 | 69 | 284 | $311,690 | $225,164 | 97.71% | 3.0 | 28 |
| February, 2017 | 72 | 110 | 256 | $322,054 | $220,537 | 97.27% | 4.3 | 29 |
| March, 2017 | 73 | 100 | 257 | $313,552 | $212,245 | 97.56% | 4 | 28 |
| April, 2017 | 73 | 113 | 255 | $337,389 | $218,194 | 97.76% | 4.4 | 28 |
| May, 2017 | 107 | 117 | 273 | $334,048 | $218,148 | 98% | 4.92 | 28 |
| June, 2017 | 101 | 95 | 314 | $331,422 | $222,558 | 98.26% | 3.75 | 25 |
| July, 2017 | 107 | 97 | 339 | $323,223 | $228,951 | 98.33% | 3.6 | 23 |
| August, 2017 | 93 | 79 | 324 | $317,147 | $242,944 | 98.42% | 3.2 | 23 |
| September, 2017 | 88 | 84 | 327 | $327,060 | $245,238 | 98.29% | 3.2 | 22 |
| October, 2017 | ||||||||
| November, 2017 | 65 | 55 | 350 | $311,357 | $235,978 | 97.93% | 2.1 | 24 |
| December, 2017 | 64 | 34 | 309 | $315,098 | $230,386 | 97.80% | 2 | 26 |
