Although the national news says otherwise, 2012 real estate sales for Washington CT ended on a sour note with only 3 single family homes selling in December. Washington has been struggling all year, being primarily a second home luxury market, "discretionary funds" have not been as free as they once were. November brought hope to the market, 8 homes closed. That was the highest in the year. However a repeat in December was not meant to happen.
As I write this, there are 66 single family homes for sale in Washington, CT. No homes show under deposit, which is troubling yet again. The good news, the inventory is lower than it has been during 2012, we shall see if this remains the case or not.
2012 Year End Real Estate Review for Washington, CT.
- 41 single family homes sold.
- The average list price in 2012 was $1,076,115.
- The average sale price in 2012 was $707,132.
If no more homes come on the market, it will take 14 months to sell the current inventory of homes in Washington, CT.
Is pricing a home in Washington, CT irrelevant? Buyers certainly might think so...
Another troubling statistic for sellers is homes sold on an average of 90% of last listed price to sales price. However, they actually sold at 82% of the original listed price. Reductions were key in getting the homes to close, large reductions. If you are selling and have a "must have" price, it could take a long, long time to get that price. If you don't have the time or patience to wait, perhaps you might want to take a look at my article about the 5 "P's" to Selling Your Home. You also might want to learn about our highly customized and internet intensive marketing program for your home.
This is great news for buyers, you are certainly going to get more for your money in a luxury second home in Washington, CT. There does appear to be quite a bit of negotiating room! You can start your search for a home in Washington CT here.
Statistical information obtained from CMLS, data deemed reliable, not necessarily accurate.
Originally posted at 2012 Real Estate Review Washington CT
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