Millbury Condos
Around 13,300 people live in the town of Millbury, which is in Worcester County. The town is rich in history, and it is easily accessible through public transportation to and from other points in Massachusetts. Its name comes from the fact that it was once a major mill town dotted with factories and textile mills. The town's strong economic past made it a popular place to live during the Industrial Revolution, and it continues to attract residents with its historic sites, picturesque natural areas, and charming downtown center. The town is close to Worcester, Auburn, Grafton, and Sutton. Two of the largest roadways near the town are I-90 and I-290. Route 122A is also close by.
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Housing prices in Millbury are relatively low in comparison to average home prices in the Boston metro area. In 2018, the average value for homes in this town is $276,000. Housing prices have risen by 3.6% over the past one-year period (since spring 2017), and they're projected to increase by another 3.7% by the spring of 2019. The median price of homes sold in 2018 has averaged $290,200, while the median listing price for homes in 2018 has been around $339,900. Broken down into price per square feet (SF), that amounts to a median listing price of $173, which is above the median list price of $166 in the Worcester metropolitan area. The average sale price for a townhouse is about $281,620. Homes spend about 188 days on the market, with differences in average time from listing to sale based on price. Homes with a sale price of less than $200,000 typically spend about 120 days on the market before selling, while homes priced between $200,000 and $400,000 stay for sale for approximately 80 days longer. In contrast to many towns in Massachusetts, and especially those closer to the coast, sales are equally common in the summer and winter months. In 2017, July had the highest number of house sales, while December was close behind. June, August, and November also had relatively high volumes of sales. New listings were posted primarily in October, November, January, and March. Revenue from sales amount to about $1.8 million in July, and about $1.6 million in December of 2017.
Owning a townhouse is quite different from owning a home, and there are important differences to be aware of. Townhouse buyers, especially those buying for the first time, should ask about the governing homeowner's association. Homeowner's associations are entities that take care of community conveniences for all residents, such as lawn care, trash removal, and plowing. They also charge a monthly fee, which is a major distinction between owning a home and a condominium. There are other things to keep in mind when buying a townhouse too, including what amenities and features you want, and where in town you'd prefer to live. Planning a financial budget for your place, which typically includes getting a loan, is also an essential step. To really get ahead, you can even start applying for loans with the intent of getting pre-approved for a mortgage before making an offer. This shows prospective sellers that your home financing arrangements are in order, and it may help you lower the asking price.
Sellers should also be aware that there are differences between single-family homes and townhouses when selling. As a seller, you are subject to guidelines set by both the governing homeowner's association and the FHA. When listing your unit for sale, you'll need to list its assets and advertise in the right places. You will also need to be aware of current market prices and find a favorable listing price for your property. Since your place must pass a home inspection before it can change hands in ownership, you'll also need to make the time (and budget for) repairs necessary to pass inspection. It also never hurts to make your place as aesthetically pleasing as possible, which might entail simple updates like replacing outdated fixtures in the kitchen or bathroom and repainting inside and out. Staging, photographing, and advertising your home is also critical, as it shows your home at its best to prospective buyers. The final step in selling a home is arranging for open house tours and showings, which often involves the assistance of a realtor, and ideally one who is familiar with townhouses. Legal documents, paperwork, and finalizing the sales contract are other steps that you will need to take before the sale is complete. Whether you are buying or selling, we can help you work through the steps to make the process as painless and easy as it can be.
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