Middlebury CT Real Estate Sales Report for October 2012
Search for Homes in Middlebury CT
Currently in Middlebury CT there are 63 active residential listings for sale. They range from a 1,253 square ft, 2-bedroom cape listed at $139,900 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 $492,482. The average days on market for these homes is 134 days. For the month of October, there were 8 new homes listed for sale in Middlebury CT. There are currently 6 homes under contract in Middlebury CT.
In October, 2 homes closed in Middlebury CT. They were a 1,917 sq. ft. 2-bedroom cape home which sold for $320,000 and a 3,336 sq ft, 3-bedroom contemporary which sold for $585,000. The average days on market was 198 days. The closed properties had a Sales price to List price ratio of 89.75%.
By comparison, there were also 2 closings in Middlebury CT for the month of October 2011, with an average price of price of $1,375,000 and average days on market of 125 days.
For the year 2011, the market sales or absorption rate was 5 sales per month, with an average sales value of $398,000 and average days on market of 44.
For the first 9 months of 2012, the market sales or absorption rate was 4.5 sales per month, with an average sales value of $300,468 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 lower volume of homes per month, and the values are averaging almost 26% less than 2011 with fewer days on market. The current market is still a very strong buyer’s market.
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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