Meriden CT Market Update for February 2012
Here's the way the housing market is shaping up in Meriden as of February 29, 2012: There are currently 211 single family homes for sale in Meriden:
- Low list price: $46,350
- High list price: $575,900
- Average list price: $195,035
- Median list price: $179,900
- Average Days on Market: 77
- Homes sold on average for 91.8% of list price
There are 93 homes currently under contract, priced between $15,000 and $314,900. Based on the number of homes sold in February (20), it would take approximately 11 months to sell the current inventory.
As for condominiums, there are currently 86 condosfor sale:
- Low list price: $43,000
- High list price: $274,900
- Average list price: $126,622
- Median list price: $129,900
- Average Days on Market: 42
- Condos sold on average for 96.5% of list price
There are currently 16 condos under contract, priced between $45,900 and $269,900. Based on the number of condos sold in February (4), it would take approximately 22 months to sell the current inventory.
Here is a chart comparing annual home and condo sales in Meriden for the year-to-date:
While the number of condos for sale in Meriden stayed relatively unchanged in February, the inventory of single family homes dropped almost 8%, from 228 to 211. The average sale price for both condos and single family homes was up from the prior month; single families rose slightly to $179,062 while condos climbed sharply to $122,127. Interest rates for conventional loans remain below jumped above the 4% range for the first time since last October, and CHFA rates (for first time home buyers) remained at 3.250 percent. Meriden single family home sales fell to 20 units from 25 in January, and this was down 13% from February of 2011 as well. Condo sales were up, however, rising to 4 units sold from 3 the previous month but down from 5 in February of 2011. Meriden remained in a normal buyer's market, with just under 12 months of home inventory. Total sales in Meriden were down 14% for the month, confirming last month's prediction of less than stellar sales numbers; however, sales activity in March has been a little more lively than the first two months of the year and we're confident that the month will end on a high note. The unusually warm weather has brought out potential buyers in large numbers, and we feel this is a sign of good things to come in the coming months.
Meriden Properties For Sale
(zoom out to see more properties)
Related articles
- Meriden CT Market Update for January 2012 (wallingfordwired.com)
- Meriden Market Update for December 2011 (wallingfordwired.com)
- Meriden Market Update for November 2011 (wallingfordwired.com)
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