Vernon CT Market Report ~ May 2011
The Vernon CT real estate market showed some strong gains in terms of closed sales during May 2011. There were 14 closed sales with a median price of $177,500. This compared very favorably to April's closed sales which were just 5, and the median price during April was $155,000. So we saw increases in both number of sales and median price.
In addition, the list price to sale price ratio improved as well, with 96.15 in May and 94.6 in April. Days on the market improved to 52 in May from 83 in April.
So all in all, positive trends were reported.
When we look at May 2011 compared to May 2010, we see interesting results as well. Vernon is the the only town I have reported on this spring that saw more closed sales over the corresponding month last year during the height of the homebuyers' tax credit frenzy! Last May there were 12 closed sales compared to 14 this May. Granted the median price was much higher ($210,000) last May, but that was typical for last year, when median prices were higher in general.
Currently, there are also 11 houses under contract and 20 houses under deposit, so we should expect an active June as well.
Here is the breakdown by price range:
| Price Range | May 2011 | May 2010 |
| Under $100,000 | 1 | 2 |
| $100,000-$149,999 | 3 | 1 |
| $149,999-$199,999 | 4 | 2 |
| $200,000-$249,999 | 5 | 5 |
| $250,000-$299,999 | 1 | 2 |
| $300,000-$349,999 | - | - |
| $350,000-$399,999 | - | - |
| Over $400,000 | - | - |
| Total | 14 | 12 |
If you are looking for a home in Vernon, CT, there are currently 134 homes on the market, with a median price of $219,450. If you would like to find the home of your dreams, you can narrow your search on the form below to see what is available. Please feel free to call me if I can help you with your search.
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