Here’s what you need to know about our market’s first-quarter numbers.
Winter is over and we’re well into the second quarter of 2021. Hopefully we’ll all be together at Fenway soon, but until then, let’s talk about how the first quarter ended up for our Milton real estate market.
There were 48 transactions completed in the first quarter, making it one of the busiest first quarters ever in this area. Buyers are still having a tough time because inventory is so low and demand is so high, so congratulations if you hung in there and got the property!
The average living area of these homes was 2,400 square feet, the average list price was $911,000, and the average sale price was $930,000. Netting more than your list price is a great spot to be in as a seller.
If you did buy a home and feel like you overpaid, remember this: It’s not what you paid for it—it’s what you sell it for. If you hold the property for the next 10 to 15 years, you’ll be laughing at what you paid for it back then and will see a pretty nice return on your investment when you do sell.
Interest rates are anywhere from 3.25% to 3.5% right now. They’re a bit higher than they were earlier this year. I don’t think sellers are going to get quite as much for their homes as they did in the first quarter because of this, even though this quarter may be even busier if inventory starts to increase.
If you have any questions for me about the Milton market or real estate in general, don’t hesitate to reach out via phone or email. I look forward to hearing from you soon.