December 2014 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 133 active residential listings for sale, with 24 new listings being added in December. The homes for sale in Watertown CT range from a 1,090 square ft, 3-bedroom colonial listed at $46,180 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,495,000.
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The average list price of the homes currently available for sale in Watertown CT is $377,499. The average days on market for these homes are 154 days. In addition, there are currently 17 homes under contract in Watertown CT, with 5 going under contract in December.
In December 2014, 18 homes closed in Watertown CT. They ranged from a 1,434 square ft, 3-bedroom cape, which sold for $72,000 to a 3,000 square ft, 4-bedroom, colonial which sold for $479,900. The average price for the homes that closed in December in Watertown CT was $231,494 with average days on market of 116 days. The closed properties had a Sales price to List price ratio of 96.4%.
By comparison, there were 12 closings in Watertown CT for the month of December 2013, with an average sales price of $201,878 and avg. days on market of 70. This indicates that for December of 2014, there were 6 more homes sold than in December 2013, with an average price 11% greater than for the same period for the previous year with longer time on market. This shows that there was appreciable change in values for the state of the real estate market in Watertown CT over the same period the previous year.
For the year 2013, the market sales or absorption rate was 15 sales per month, with an average sales value of $206,615 and average days on market of 94.
For the year first quarter of 2014, the market sales or absorption rate for Watertown CT was 11 sales per month, with an average sales value of $202,770 and average days on market of 146.
For the second quarter of 2014, the market sales rate was equivalent to 13 sales per month, with an average sales value of $222,881 and average days on market of 79.
For the third quarter of 2014, the market sales rate was equivalent to 32 sales per month, with an average sales value of $228,975 and average days on market of 89.
For the fourth quarter of 2014, the market sales rate was equivalent to 15 sales per month, with an average sales value of $207,360 and average days on market of 113. Using the 4th quarter absorption rate, the current inventory of homes is equivalent to a 8+ month inventory. The current market would be considered a buyer's market.
The graph demonstrates the average monthly sales value in Watertown CT for 2014 with strong fluctuations from month to month. The values in Watertown CT have not yet stabilized.
Watertown CT 2014 Year's End Analysis
For the year 2014, the market sales or absorption rate was 12 sales per month, with an average sales value of $217,333 and average days on market of 102.
For the year 2013, the market sales or absorption rate was 15 sales per month, with an average sales value of $206,615 and average days on market of 94.
For 2014 the sales quantity decreased by an average of sales per month from the previous year but the average value increased by app 7%. The market in Watertown CT is showing signs of improvement in value.
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 Watertown 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 Watertown CT.
Watertown CT Real Estate Sales Report for December 2014
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