Market Activity Report for Windsor CT - August 2011
Welcome to the Windsor, CT Real Estate Market Update
presented by The Master's Key Realty for the
Month of AUGUST 2011.
RESIDENTIAL SINGLE FAMILY HOMES
Currently there are 180 actively listed Residential Homes in Windsor, CT. Of these, 33 were listed during the month of August. This inventory figure is up from 132 just five months ago.
These homes range in price from $69,000 to $404,900; with 2 larger properties excluded from the statistical data. They are a larger 10 acre estate listed at $995,000, and a waterfront property listed at $849,900.
32 East Street is the lowest priced home in town at this time, asking $60,900. It is listed as a 1085 sq.ft. home w/6 rooms, 3 bedrooms and 1 bath, built in 1930. This home has an updated kitchen w/vaulted ceilings, but is listed as needing rehab. It is being sold to settle a probate estate and is currently rented at $800/month.
27 Pepperbush Way is the median priced home in Windsor CT at this time, asking $219,9000. It is a 1979 built Split Level home, recently renovated, with 1400 sq.ft. of living space on the main level. In all there are 7 rooms, 3 bedrooms, 2.5 baths, and a 1 car attached garage. It has a fireplace, deck, and fully finished lower level on a fenced 0.31 acre lot.
37 Mary Catherine Circle is currently the highest priced home in Windsor, CT, asking $404,900. This is a spacious 4000 sq.ft. Tudor styled Colonial in the Kendrick Place subdivision in Poquonock. Built in 1986, it offers 11 rooms, 4 bedrooms, 3 full baths, and a 2 car attached garage on a 0.82 acre lot. It's gourmet island kitchen has corian and granite counters, stainless steel appliances. Other features include Central AC, FP, a library and a greenhouse style sunroom.
130 West Street is an 8224 sq.ft. Colonial, 10 rooms, 5 bedrooms, 4.5 baths, 3 car attached garage on a 10 acre parcel on the Farmington River. Amenities include central air, 2 fireplaces, an indoor pool, tennis courts, and patio and gazebo. Listed for $995,000.
They have been on the market from 1 day to 896 days. It is not uncommon as the number of homes on the market climbs, that the days on the market will often extend if there is not sufficient demand to absorb the inventory of homes on the market. Right now there are 31 (up from last month) homes on the market in Windsor that have been on the market for more than six months without selling.
Of interest is that there are currently still 30 houses on the market in Windsor for under $150,000. This is a great time for buyers to find that affordable home or investment property! Please call Lisa Orme at The Master's Key Realty if you want to get started!
SALES ACTIVITY:
During the month of August, 12 homes went under contract in Windsor CT. In comparison, in 2010, 17 homes went under contract in the month of August. This reflects that sales activity for the month of August was off by about 30% as compared to this time last year. Sales are up slightly from last month which saw 10 homes go under deposit. Nine of the twelve homes deposited were listed under $199,900.
In addition, 17 properties were sold (closed sales) in Windsor during the month of August 2011, ranging from $125,000 to $317,500. Closed sales were on the market before going under deposit an average of 58 days; up from 46 average days on market last month. In comparison, in 2010, there were also 17 closed sales in the month of August, but they averaged only 50 days on the market.
With 12 homes selling in one month, and 180 homes on the market, the absorption rate is 15. This means that it would take approximately 15 months to absorb the current inventory of homes now on the market. If you are thinking about selling your home in Windsor, CT, this should help you determine the most suitable pricing on your house for sale to meet your desired selling time.
CONDOMINIUMS
Currently there are 54 actively listed Condominiums in Windsor, CT. Of these, six were listed during the month of August 2011. These condos range from in price from $19,900 to $363,033. Six of these condos are located at Delamere Woods, which is an age restricted community for those 62+ years, and 12 other units are age restricted "Active Adult 55+ Communities". Also notable is that 21 of the 54 listed condominiums are New Construction units.
The average list price of a condo in Windsor CT is $230,622.
Because the Delamere Woods condominiums are non-standard condominiums, offering a much higher level of personal services with a much higher fee associated with them, they are eliminated from the statistical data.
46 High Path Road in Chateau Woods condominiums is the lowest price active listed condo in Windsor at this time. It is listed for $86,390, and is a 5 room, 2 BR, 2.5 bath townhouse. The monthly condo fee for this bank-owned unit is $277 including pool, and basic cable.
25 Rhodora Terrace in Country Walk is the median priced condominium in town, currently listed for $234,600. It is a 1508 sq.ft. townhouse style unit w/5 rooms, 2 bedrooms, 2 full baths and a 1 car attached garage. It has a full basement and deck. The monthly fee for this unit is listed as $270/month. Country Walk is located off Walden Meadow Road in Poquonock.
14 Haskins Road is a new construction unit at Country Walk in Poquonock and represents the top of the active condominium market in Windsor priced at $363,033. This is the Madison model and offers 2475 sq.ft. of living space. With 9 rooms, 3 bedrooms, 2.5 baths and a 2 car attached garage, this unit is listed with central air, deck, full basement and nearly $40,000 of upgrades.
SALES ACTIVITY:
There was only one new deposit on a condominium accepted in Windsor CT in August 2011. The single condo contracted in August 2011 is 281 High Path Road in Chateau Woods Condominiums. This bank owned condo is a 4 room-1 bedroom, 1 bath 1st floor ranch unit listed for $49,900. In comparison, in August of 2010, there were five deposits taken on condominium listings. Each of the last two months saw only one condo go under deposit in Windsor.
There were two units sold (closed) in Windsor CT in the month of August 2011. One was 321 Dunfey Lane at Valley Village. This 1260 sq.ft. townhouse condo sold for $110,000 after only 30 days on the market. 
The other sold listing was 250 Kenswick Lane at Ballymeade, a 2107 sq.ft. single detached home which sold for $275,000. after 83 days on market.
With only one or two condominiums selling per month over the past three months, (using closed sales), and 54 condos on the market, the absorption rate is 27-54. This means that it could take between 27 and 54 months to absorb the current inventory of condominium homes now on the market at the current rate of sales. If you are thinking about selling your condominium home in Windsor, CT, anytime in the next few years, this should help you determine the most suitable pricing and timing on your condo for sale to meet your needs.
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If you are thinking about buying or selling a home in Windsor CT or anywhere in Hartford County, please call me for a personal consultation. I would be more than happy to discuss marketing and pricing strategies, and how absorption rates affect your pricing, or to answer any other questions you may have about real estate.
If you know somebody who is having difficulty in the current economy and struggling with their mortgage payment and doesn't know what to do, I may be able to help them understand their many options, especially if they are trying to avoid a foreclosure! Please suggest they give me a call. All referrals will be handled professionally and confidentially, just as you would expect!
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