Shelton CT single family home sales and averages for October 2015 increase 3% as compared to October 2014 sales and were UP 19% from last month (see annual chart below).
Listing and closed sales averages decreased 5% and 6% respectively and the median went down 7%. However, October's sales average is the SECOND highest for 2015 (see chart below).
Inventory went down 12% which combined with the slightly higher sales rate pushed the absorption rate into a SELLER's market statistically at 5.28 months. Translation: it would take 5.28 months to sell off the present inventory of 169 homes.
Going forward, there are 33 homes under deposit and 29 homes pending.
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Shelton CT October 2015 Homes Sold
as recorded in the Greater Fairfield County MLS
Where was the sweet spot for sales in October? A BIG jump from the $200K - $300K range last month to the 400K - $500K range which is not the norm. It was not enough to beat last year's averages, though, due to the high number of lower end sales.
October 2015 sales inched back up from last month coming in fourth place so far for the year.
The average sales prices throughout the last year provides buyers and sellers with an even better understanding of Shelton's present and past market. The October sales average ended up being the second highest average for the year.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 5.28 months for the last three months, staying in a sellers market statistically.
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.
Thinking of selling? Get a complimentary free market analysis for your Shelton home.
The success in selling your house in Shelton 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.
Contact me for advice on how to list your home effectively in today's market. Get an exceptional marketing plan for your money.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home.
Related posts:
Shelton CT Market Report Archive
Living in Shelton CT - Real Estate and Homes and Condos for Sale
Date Source: Greater Fairfield County Multiple Listing Service -- November 25, 2015. No representation or warranty is made to the accuracy of this information.
Shelton CT Real Estate Market Report and Homes Sold - October 2015
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