South Windsor CT Market Report for September 2011
After reporting an Awesome August for the real estate market in South Windsor CT, I was waiting (and hoping) to see if this upward trend in number of closed sales could continue. The results are mixed, in that September's closed sales were down (16 compared to August's 25) but they were up compared to last September (7).
However, in terms of median price, we would have to say that September was sizzling with a median price of $313,385! It seems that we are finally seeing a rise in sales in the upper price ranges which is always a good sign. This is starting to become evident in other towns as well so, at least for now, we can be moderately hopeful that the real estate market is on the rise.
Here is the breakdown by price range:
|Price Range||September 2011||September 2010|
In addition to the number of closed sales, there are currently 8 homes under contract and 28 homes under deposit. If you are looking for a home in South Windsor, there are currently only 96 homes on the market with a median price of $258,950. Inventory is shrinking which means that sellers will gain an advantage and buyers may find themselves in multiple-offer situations, especially for homes that are priced well. Here is a recap of closed sales and median price by month in South Windsor CT:
|Month||# of Closed Sales||Median Price|
With all the homes that haven't yet closed and those that are currently active, the absorption rate is 8.2 months across all price ranges. If you are looking in a particular price range, I would be glad to tell you the absorption rate for that price range. South Windsor remains a popular market, median prices are on the rise, and inventory is shrinking. Please feel free to browse the listings or contact me if you would like help with your search.