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These state pages or hyper-local pages provide content directly related to a specific geographical location.
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Here's the way the housing market is shaping up in Meriden as of October 31, 2011:
There are currently 248 single family homes for sale in Meriden:
Low list price: $20,000
High list price: $575,900
Average list price: $188,420
Median list price: $170,450
Average Days on Market: 73
Homes sold on average for 91.5% of list price
There are 74 homes currently under contract, priced between $19,900 and $360,000. Based on the number of homes sold in October (26), it would take approximately 9 months to sell the current inventory.
As for condominiums, there are currently 90condosfor sale:
Low list price: $38,000
High list price: $269,000
Average list price: $124,998
Median list price: $124,700
Average Days on Market: 53
Condos sold on average for 88.0% of list price
There are currently 19 condos under contract, priced between $32,000 and $264,900. Based on the number of condos sold in October (7), it would take approximately 13 months to sell the current inventory.
Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:
Meriden home inventory saw drops across the board in October, as single family homes remained fell 6% to 248, and condos lost 2 to finish at 90 available properties. The average sale price for condos established a new low for the year, ending at $109,998 (due to sales of 5 sub-$100K units), while single family homes fell another $4,000 to $172,367. Interest rates for conventional loans continue to hover at or below the 4% range and CHFA rates (for first time home buyers) also remained steady at 3.5%. As expected, Meriden home sales saw some slight improvement in October: single family home sales rose from 26 to 29 units, and condo sales almost doubled for the month from 4 to 7 units sold. Meriden's market is is still in a normal buyer's market, but did improve slightly to 11.20 months of home inventory, down from 11.83 months of inventory in September. Projections for November are not looking good overall; with only 13 properties sold so far, the total sales for the month would be 26 units, far below last November's 50 units.
Disclaimer: ActiveRain Corp. does not necessarily endorse the real estate agents, loan officers and brokers listed on this site. These real estate profiles, blogs and blog entries are provided here as a courtesy to our visitors to help them make an informed decision when buying or selling a house. ActiveRain Corp. takes no responsibility for the content in these profiles, that are written by the members of this community.