The Monroe CT single family real estate sales for October 2014 decreased 30% as compared to October 2013 closed sales. However, average list and sales prices INCREASED 11% and 10% respectively. The median home price followed with an 18% INCREASE. Days on the market came DOWN 36%.
With a decrease in inventory and sales on par with last month, the market absorption rate for the month came down slightly but was still high at 12.89 months meaning it would take 12.89 months to sell off the present inventory keeping Monroe in an extraordinarily high buyer's market statistically. Remember, these are numbers and calculations. A house can still be sold in a very short period of time provided it is prepared to sell and marketed. There ARE buyers out there waiting for the home that is priced and prepared for sale! See more information below.
CLICK HERE TO SEARCH for Your New Home in Monroe, CT
Futures show 14 houses under deposit and 13 properties under contract.
Thinking of selling and want to know what your home might sell for? Get a FREE Monroe real estate comparative market analysis.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home. Don't make the #1 biggest mistake!
Which houses attracted buyers and sold in Monroe CT in October 2014?
Monroe CT October 2014 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 11/1014)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 9.41 for the last three months, which statistically is a buyer's market. This (trend) figure is a little more respectable than the rate for the singular month of October.
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.
SEARCH for Your New Home in Monroe, CT
The 'sweet spot' for sales this month remained in the $300K-400K price range with 55% of sales. If your home is in that range, which historically is the most popular in Monroe, prepare your home wisely for a quick sale. Refer back to the 'seller mistake' link above.
Keep in mind each month is a snapshot of the month including all sales. Individual price ranges and results will vary which will determine a correct listing price or amount to offer on a purchase.
Want to know what your home is worth in Monroe? Get a FREE Monroe real estate comparative market analysis done for your property.
The success in selling your house in Monroe 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.
Date Source: Greater Fairfield County Multiple Listing Service -- November 10, 2014. No representation or warranty is made to the accuracy of this information.
Related Monroe CT Posts:
Monroe CT Market Report Archive
Whitney Farms Homes and Golf Course Monroe CT 06468
Great Oak Farm Colonial Homes in Monroe CT
Monroe CT Real Estate Market Report and Homes Sold October 2014
Comments(2)