South Windsor Market Report for October 2011
During October 2011, there were 14 closed sales in South Windsor CT with a median price of $275,000. There were 14 closed sales in October 2010, but the median price was $259,900. So year over year comparison for October shows that sales were the same, but the median price rose.
Another interesting statistic is that while days on market (DOM) increased in October 2011 compared to October 2010 (64 vs. 33 in 2010), the sale price to list price ratio increased (97.4% iin October 2011 vs. 95.25% in October 2010).
Here is the breakdown by price range:
| Price Range | October 2011 | October 2010 |
| Under $100,000 | 1 | - |
| $100,000-$149,999 | - | 1 |
| $149,999-$199,999 | - | 3 |
| $200,000-$249,999 | 5 | 2 |
| $250,000-$299,999 | 1 | 3 |
| $300,000-$349,999 | 3 | 4 |
| $350,000-$399,999 | 1 | 1 |
| Over $400,000 | 3 | - |
| Total | 14 | 14 |
If we look at how October compared to the prior months, we can see from the following chart that the number of closed sales is dropping off from prior months, but the median price of $275,000 is pivoting around the center of a low of $218,500 in May to a high of $313,385 in September. How do we explain the surge in number of sales during the summer months? Quite possibly, people wanted to get settled prior to the start of the school year. Here is the recap of the year so far:
| Month | # of Closed Sales | Median Price |
| October | 14 | $275,000 |
| September | 16 | $313,385 |
| August | 25 | $240,000 |
| July | 20 | $285,900 |
| June | 21 | $259,900 |
| May | 20 | $218,500 |
| April | 17 | $220,000 |
| March | 8 | $237,250 |
| February | 7 | $305,000 |
| January | 14 | $251,500 |
In addition to closed sales, there are 6 houses under contract and 22 houses under deposit. We will have to see how November's closed sales go. Because of the massive power outages, some closings may be delayed as the houses under deposit may need to have damages repaired from the storm and appraisals rechecked.
If you are looking for a house in South Windsor CT, there are currently 86 homes for sale, ranging from $19,500 for a two-bedroom, one-bath mobile home to a six-bedroom, two-bath colonial farmhouse for $1.3 million. The median price is $287,400.
Inventory is down from the prior month so if you are a seller, that is good news, but if you are a buyer, you may find competition if you find a house you like. At the current levels, the absorption rate for South Windsor CT is 8 months. You can search for homes in South Windsor by setting the criteria for what you want. Give me a call if you see something that interests you.
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