Milford Condos

Set in Worcester County, Milford is a quaint Massachusetts town with about 28,000 residents. It was incorporated in 1780, and its economy was driven by mining and general industry through the 19th century. The town was first part of Mendon, but it later became a separate city at the time of its incorporation. Between discovery of a rare pink granite in the town and the construction of I-495, businesses have thrived. The town has historically had a strong residential character too.

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In spring 2018, the average sale price for a townhouse is $274,500. Homes in the price range of $200,000 to $400,00 make up about three-quarters of the market in sales count. The second largest category of home sales is for properties priced below $200,000. More expensive properties, which are those between $400,000 and $600,000, account for the lowest volume of sales. Most new listings in this town occur between the months of April and September, with April posting the highest number of new listings. The busiest months for sales are June and November, followed by July, August, and October. Sales volumes in June and November exceeded $3.75 million in 2017. January had the lowest sales rates, which was slightly over $1.25 million.

Home values are still lower on average than they are in many places in the Greater Boston area, which means that now is a good time for prospective buyers looking at both residential and commercial properties to start exploring their options. In spring 2018,the average home value in Milford is $313,300. This is a 5% increase in average home value over the same time period in 2017. Home prices are expected to rise through the end of the year and be about 3% higher by the start of 2019. The median listing price for residences here is $347,000, which is higher than the median selling price of $292,000. The median listing price by square foot is $193, which is greater than the median listing price per SF of $166 in the area around Worcester. About 10.3% of homes here have negative equity, which is just about equal to the national rate of 10.4% of homes with negative equity. Around 1.1% of current homeowners are delinquent on their mortgage payments. The rate of foreclosure is six homes out of every 10,000 here, which is less than the foreclosure rate in the Worcester area, which is 8.3 per every 10,000 homes. Both rates are above the national foreclosure rate, which is 1.6 homes in 10,000 foreclosed. About 1.1% of homeowners in town are delinquent on mortgage payments, which is about 0.5% less than the volume of delinquent mortgages in the United States as of 2018. There are 10.3% of homeowners reportedly underwater on their mortgage payments in this town in 2018, which is more than the volume of 9.8% in Worcester.

Buying and selling a townhouse is different from purchasing or selling a home, and there are many considerations and factors to be aware of. This is especially true for first-time buyers and sellers. If you are buying a place for the first time, you may not know about homeowner's association requirements and fees that are attached to the property. This can add more payment on to the price of the unit, and it will also dictate what adjustments you can make to the property. Likewise, there are nuances to keep in mind when selling your place, too. You'll have to make sure your property is up to all local, state, and federal codes before you can sell the house and even show it. You will need to know how to stage your home appropriately for sale, and you'll have to get all of your legal paperwork and documents in order. Ideally, you'll work with a realtor who is familiar with selling homes, as he or she can highlight your home's most desirable features. Pricing and advertising your place correctly is also essential for a fast and successful sale. Whether you are planning to buy a property or sell yours, get in touch with our office, as our staff is familiar with townhouse sales and the local area. We can help with research, pricing, home showings, and other aspects of purchasing or selling a property. We can also work with you to establish a financial budget, search for a loan, and ideally get pre-approved for a loan before you make an offer, which in turn allows you to move into your new place more quickly than you would without having a loan in place.

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