What's UP in the Stratford CT real estate market? You'll have to read the market report for February 2014 to find the UPlifting answer.
Home sales went UP 29% as compared to February 2013 results. Sales also went up 8% from January 2014 results. (See chart below).
The listing and selling averages both INCREASED 28%, and the median (midpoint of sales) came in with a 28% increase as well.
Days on the market went DOWN 3%.
The absorption rate for the month remained in buyer's market territory statistically at 7.85 months, meaning that if there was no new inventory, it would take 7.85 months to sell off the active 212 listings.
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Moving forward, there are 37 houses under deposit and 54 pending sales (under contract). Both numbers are up slightly from last month.
Which houses attracted buyers and sold in Stratford CT in February 2014?
Stratford CT February 2014 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 3/14/14)
The hot spot for sales in February 2014 continued to be in the $200K-$300K range with 52% of the sales. Stratford CT remains a very desirable, affordable town for first time buyers and downsizers.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 8.05 months for the last three months, solidly back into a buyer's market (statistically).
Keep in mind that this rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate for your price point to get a more accurate analysis. Some price points favor sellers; others favor buyers.
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The success in selling your house in Stratford CT 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, MARKET, and SELL your home effectively in today's market. All agents do not provide the same marketing services. Get the most for your listing dollars!
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Stratford CT Real Estate Market Report Archive
Date Source: Greater Fairfield County Multiple Listing Service -- March 14, 2014. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold February 2014
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