Milford Home Sales Drop in June

Written by Les Masterson

The Milford real estate market dipped a bit in June this year, according to single-family home sale figures released by The Warren Group, which is publisher of Banker & Tradesman.

Milford had 24 single-family homes sold with a median sale price of $295,000. This is a drop from a year ago when 32 homes sold for a median sale price of $330,250.

Worcester County home sales climbed slightly above 2013 numbers. There were 736 single-family homes sold this year compared to 683 last year. The median sale price increased in June 2014 compared to 2013 ($248,500 from $242,000).

In Massachusetts, single-family home sales rose 3.7 percent in June compared to a year ago. Year-to-date home sales are down 1.8 percent. The median price increased by 2.8%to $359,900 in June compared with $350,000 in June 2013. For the year, the median sales price was up 4.7 percent.

“These numbers are a reflection of sales made during the spring market,” said The Warren Group CEO Timothy M. Warren Jr. “Mortgage interest rates are lower than they were last summer and demand remains high as homebuyers seem to be overcoming the problems with low inventory. We could see more gains in sales volume in the big months of July and August.”

Low inventory continues to play a key role in the Massachusetts real estate market.