Meriden Market Update for June 2011
Here's the way the housing market is shaping up in Meriden as of June 30, 2011:
There are currently 260 single family homes for sale in Meriden:
- Low list price: $44,900
- High list price: $575,900
- Average list price: $200,213
- Median list price: $189,900
- Average Days on Market: 80
- Homes sold on average for 94.7% of list price
There are 75 homes currently under contract, priced between $29,900 and $449,900. Based on the number of homes sold in June (30), it would take approximately 9 months to sell the current inventory. As for condominiums, there are currently 100 condos for sale:
- Low list price: $37,000
- High list price: $399,900
- Average list price: $137,817
- Median list price: $144,000
- Average Days on Market: 45
- Condos sold on average for 95.5% of list price
There are currently 21 condos under contract, priced between $37,900 and $220,000. Based on the number of condos sold in June (6), it would take approximately 17 monthsto sell the current inventory. Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:
The number of Meriden homes for sale stayed virtually the same in June. Sales of single family homes fell by 21%, but condo sales were unchanged at 6 units sold, which is also the average number of sales per month for the first six months of the year. The average sale price for condos is at $131,588, the highest level so far this year; single family homes are currently selling at an average of $189,642, the highest level since March. We're at the height of the summer housing market so we expect these numbers to continue for at least another month, when back-to-school time hits in late August and early September, before picking back up in October.
The following chart compares average days on market, or how many days it took to sell a home or condo year-to-date:
Average days on market fell slightly for single family homes in June, but took a nosedive for condos, dropping by 65% to a robust 45 days for the month. It remains to be seen, however, if this will continue in July and coming months; we predict that it will not, and anticipate days on market returning to previous levels quickly.
Meriden Properties For Sale
(zoom out to see more properties)
Comments(0)