Shelton CT Single Family Market Report for October 2009
Take a look at what happened in the single family real estate market in Shelton Connecticut for the month of October, 2009, as compared to the same time last year.
MLS data shows Shelton single family home sales in October were down 15% from October 2008. Average list and selling prices were down 5.9% and 6.7% respectively. Average days on the market increased 11%.
The market absorption rate, which shows the number of months it would take to sell the entire inventory at the same pace, is at 10.5 months, which confirms a buyer's market.
Where were all the single family sales for the month of October in Shelton?
The sweet spot was in the $200K-400K range with $400K-600K coming in second. First time buyers very probably dominated the market. Upper $$ homes did not fare well during the month indicating sellers should take a look at their pricing and marketing.
The absorption trend for the last nine months below shows a slight trending upward in sales per month as well as a downward trend in the market absorption. Good news on both fronts.
The success in selling your home in Shelton or any other community is dependent upon accurate pricing, absorption rate for your particular price point, and having an omnipresent online marketing presence. Your home will sell if there is a synergy among all three.
For information on the Shelton CT condo market, look here.
Date Source: Greater Fairfield County Multiple Listing Service -- November 3. 2009. No representation or warranty is made to the accuracy of this information.
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