Shelton CT Condo Market Report for December 2010
(Yes, I know I am late in posting this month. Sorry.)
Condo sales in Shelton (Huntington), CT for December 2010 showed a decrease in sales compared to the same period last year. But let's try to put it into perspective.
There were increased residual sales at the end of December 2009 due to the extension of the homebuyer tax credit, which was extended to April, 2009 and then to June, so the numbers were inflated.
Take a look at the other numbers for some better news.
Average list price and average selling price showed a 16% and 19% INCREASE respectively. The median sales figure came in 25% HIGHER than last year.
After the artificial spike in June sales due to the homebuyer tax credit, condo sales rebounded a bit in September and have been relatively flat the last four months.
The hot spot for December sales was in the $300K-400K range, same as last month.
The absorption trend for the last three months indicates a 9.38% rate. Based on the current inventory and the number of solds, it would take 9.38 months to sell your condo.
If you do decide to sell, your listing agent must calculate the absorption rate for your price range. This will help you to determine if you need to adjust your pricing OR if you have not listed yet, determine the best price.
Moving forward, there are 3 units with deposits and 16 units under contract. (as of 1/6/2011)
Be sure to check the Shelton CT Single Family Market Report for December 2010 and also Shelton CT Condos for Sale.
Shelton CT Condo Market Report for December 2010
Date Source: Greater Fairfield County Multiple Listing Service -- January 6, 2011. No representation or warranty is made to the accuracy of this information.
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