Milford's real estate market is currently hot with low inventory and high demand. Home prices have increased 21.1% in the past month alone. At the current pace, all available homes in Milford would sell out in just 0.9 months, indicating a continued supply shortage. Homes are now taking an average of 42 days to sell, significantly longer than the 10 days typical for this market. A significant 33.3% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 30.8% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Milford market with the affordability index at 262.3. Based on current market indicators, home prices in Milford are projected to decrease by approximately 4.1% over the next month.