Shelton CT Condo Market Report for January 2010
The condo real estate market in Shelton CT for the month of January 2010 showed an improvement in sales and market time from the previous year but was down considerably in list/sell prices.
MLS data shows Shelton CT condo sales in January were UP 25% from January 2009. Average list and selling prices were down 71% and 68% respectively. However, this is not indicative of the market overall, but just attributed to how the numbers (highs and lows) fell within a small field of solds.
The high sale was in Summerfield and the low sale was in Stephens Terrace. Average days on the market decreased 21%. Take a look at the January 2010 sales.
The market absorption rate for the month, which shows the number of months it would take to sell the entire inventory at the same pace, is at a whopping 20.80 months, deep into a buyer's market. Let's analyze that a bit.
Remember, this is January. Sellers likely held off listing until January increasing inventory 14%. Combine that with historically low January sales and you have a deceivingly high absorption rate. See the market absorption trend below for a more accurate picture of the market over a period of time rather than just one month.
Where were all the condo sales for the month of January in Shelton?
The absorption trend for the last nine months shows fairly static results in the last six months.
The success in selling your condo 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 condo will sell if there is a synergy among all three.
For single family home analysis, visit Shelton CT Single Family Market Report for January 2010.
Date Source: Greater Fairfield County Multiple Listing Service -- February 6, 2010. No representation or warranty is made to the accuracy of this information.