Real Estate Trends – Milford, New Hampshire  

Introduction:

Welcome back for our latest real estate market trend report.  Those of you joining us here for the first time, in these reports we examine housing market in a city or town in Massachusetts or New Hampshire to evaluate the current conditions.  This is done by looking at the changes in three key metrics year over year for the town to see how the market has changed.  We then evaluate what those observations mean for that market moving forward. 

Today we going up to New Hampshire and highlighting Milford, NH in Hillsborough County

 Milford NH Town Seal - Milford NH Real Estate

Market Trends in Milford, NH – April 2014 and 2015:

The Milford, NH market appears to be down some since last year.  Both the average listing and average sales prices were down a bit, the days on market were also up.  Inventory was up a lot going from 10 sales in April of 2014 to 18 in 2015. 

Average Listing Prices:

First we will take a look at the average listing price.  For Milford, NH the average listing price in April 2014 was $275,140.  This was down to $236,894 in April 2015.  That gives a large 13.90% decrease year over year. 

Average Sale Prices:

Next we take a look at the average sale prices.  The average sale price for Milford, NH in April of 2014 was $277,750 and in April 2015 that was down to $233,339.  That gives a slightly larger decrease of 15.99%.

Part of that gap is attributed to the fact in 2014 the average sales price was higher than the average list price.  Last year places sold at just about 101% of the listed price with 4 of the 10 going over list and 2 others right at list.  This shows that the market was very hot last year.

Average Days on Market:

The last thing we look at are the average days on market, which is the measure of how long it takes for a house to sell in the current market.  For Milford, NH the average days on market in April of 2014 were 53.50 and the average days on market for April 2015 were all the way up to 60.39, for a modest 12.88% increase.

Milford, New Hampshire Summary:

The Milford, New Hampshire real estate housing market has fallen off since last year.  The good size drops in both the listing prices and sale prices show this.  This is also supported by the small increase in days on market as well.

In summary if you are looking to sell a house in Milford, NH now you should expect to get less than you would have last year.  You should also expect it to take more or less the same time to sell compared to last year maybe just a bit longer.  Despite the fact things are selling about as fast as last year, if you want to sell your place in a reasonable amount of time you might consider taking a discount to move it faster since days on market are up as is the inventory.

 

Do you need to sell your Milford, New Hampshire house fast?  If you would like to sell your home fast and hassle free schedule a consultation with us today.

Please share your questions and comments below.

 

 

 

(Image credit: Milford NH Town Seal via Wikipedia)

 

 

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