The following assessment is from the real estate experts at Trulia. Trulia is a market forecaster, and analyst site that specialized in providing data to people interested in real estate trends.
One important item to note is that the first time home buyer credit has skewed the average selling prices of local homes to the negative side. The Federal program offers an incentive to buy lower cost qualifying homes.
This is their current assessment for Milford.
"Average price per square foot for Milford CT was $194, a decrease of 14.5% compared to the same period last year. The median sales price for homes in Milford CT for Nov 09 to Jan 10 was $240,000 based on 96 home sales. Compared to the same period one year ago, the median home sales price decreased 12.2%, or $33,500, and the number of home sales increased 15.7%.
There are currently 374 resale and new homes in Milford on Trulia, including 29 open houses, as well as 28 homes in the pre-foreclosure, auction, or bank-owned stages of the foreclosure process. The average listing price for homes for sale in Milford CT was $414,721 for the week ending Feb 17, which represents an increase of 1.2%, or $4,942, compared to the prior week. Popular neighborhoods in Milford include Post Road North and , with average listing prices of $346,394 and $414,721."
Source is www.trulia.com