Middlebury CT Real Estate Sales Report for June 2012
Currently in Middlebury CT there are 71 active residential listings for sale. They range from a 512 square ft, 1-bedroom bungalow listed at $140,000 to a 4,100 square ft, 3-bedroom New England Shingle-Style home listed at $2,250,000.
The average list price of the homes currently available for sale in Middlebury CT is $486,438. The average days on market for these homes is 136 days. For the month of June, there were 16 new homes listed for sale in Middlebury CT. There are currently no homes under contract in Middlebury CT.
In June, 8 homes closed in Middlebury CT. They ranged from a 676 sq ft, 1-bedroom handyman special ranch which sold for $90,000 to a 6,500 square ft, 5-bedroom colonial style estate which sold for $1,300,000. The average price of the homes that closed in June 2012 in Middlebury was $363,938 with average days on market of 96 days. The closed properties had a Sales price to List price ratio of 90%.
By comparison, there were 6 closings in Middlebury CT for the month of June 2011, with an average price of price of $301,583 and average days on market of 145 days.
For the year 2011, the market sales or absorption rate was 5 sales per month, with an average sales value of $362,697 and average days on market of 144.
For the first 6 months of 2012, the market sales or absorption rate was 4 sales per month, with an average sales value of $301,022 and average days on market of 113. The current inventory of homes is equivalent to a 14+month inventory.
By comparison to 2011, the current market is selling at a similar number of homes per month, but the values are averaging almost 18% less than 2011 with fewer days on market. The current market is still a very strong buyer’s market. Yet, in looking at the graph for the last 18 months of sales in Middlebury CT, it would demonstrate that the market has stabilized in price and is actually starting a slight upswing which hopefully will continue in the second half of 2012.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Middlebury CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Middlebury CT.
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