Shelton CT Real Estate Market Report - June 2012
Shelton CT Single family home sales were the HIGHEST recorded in the last year with an INCREASE of 48% from June 2011 and a 55% INCREASE from last month.
Compared to June 2011, listing and sales prices decreased 14% and 13% respectively. The median was down 6% and days on the market went up 17%.
However the the numbers show Shelton was in a SELLER'S market for the first time in a LONG time at 5.42 months, meaning it would take 5.42 months to sell off the present inventory (absorption rate).
SEARCH for Your New Home in Shelton, CT which includes Huntington and White Hills.
June sales continued to show strength in the $200K- $300K range which is historically the most popular price range in Shelton.
Moving forward there are 29 homes under deposit and 48 SALES PENDING, which should make July a strong sales month as well. Homes that are priced well for their condition are attracting the smart buyers who are taking advantage of the 'real estate sale' and still low interest rates.
Which houses sold in Shelton CT in June 2012?
Shelton CT June 2012 Property Transfers as of 7/7/12)
as recorded in the Greater Fairfield County MLS
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 6.63 for the last three months which is DOWN three months from the May market report and at the very LOW end of a buyers market. (See bottom of second chart above)
Keep in mind that this rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurate analysis.
Buyers who have been sitting on that fence would be wise to watch the interest rates and think seriously about getting off the fence and purchasing before a golden opportunity may pass you by. No one has a crystal ball, but numbers do not lie.
SEARCH for Your New Home in Shelton, CT which includes Huntington and White Hills.
The success in selling your house in Shelton or any other community is dependent upon accurate pricing, effective preparation, calculating the absorption rate for your particular price point, and having a strong online marketing presence. A house will sell if there is a synergy among all four. Contact me for advice on how to list your home effectively in today's market.
Thinking of selling? Get a complimentary free market analysis for your Shelton home.
Date Source: Greater Fairfield County Multiple Listing Service -- July 7, 2012. No representation or warranty is made to the accuracy of this information.
Shelton CT Real Estate Market Report - June 2012
Comments(7)