Wallingford Market Update for June 2011
Here's the way the housing market is shaping up in Wallingford as of June 30, 2011:
There are currently 234 single family homes for sale in Wallingford:
- Low list price: $39,000
- High list price: $895,000
- Average list price: $321,730
- Median list price: $298,500
- Average Days on Market: 75
- Homes sold on average for 96.0% of list price
There are 75 homes currently under contract, priced between $99,900 and $535,000. Based on the number of homes sold in June (22), it would take approximately 11 months to sell the current inventory. As for condominiums, there are currently 75 condos for sale:
- Low list price: $75,900
- High list price: $530,000
- Average list price: $231,705
- Median list price: $214,900
- Average Days on Market: 111
- Condos sold on average for 93.0% of list price
There are currently 30 condos under contract, priced between $99,500 and $489,900. Based on the number of condos sold in June (14), it would take 5 monthsto sell the current inventory. Here is a chart showing annual home and condo sales in Wallingford so far in 2011:
The number of single family properties sold in June dropped back to pre-May levels instead of increasing in a bid to beat the start of the new conveyance tax as we speculated might happen, but the number of condos sold more than doubled, to 14 units sold. The average selling price in both categories was also down, with condos reaching their lowest selling price of the year at just over $215,000, and single families at their second lowest level of the year at $308,764. This indicates that the Wallingford housing market has perhaps still not reached bottom, and the slowest months of the year are still ahead.
The following chart shows average days on market, or how many days it took to sell a home or condo, for year-to-date 2011:
Average days on market were mixed in June, with single family properties posting a 16% drop to 75 days, while condos more than doubled to 111 days as some foreclosure properties entered the mix. Inventory levels were also mixed: single family properties reached their highest level of 2011 at 234 units, while condos dropped to their lowest level of the year at 75 units.
Wallingford Properties For Sale
(zoom out to see more properties)
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