March 2016 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 149 active residential listings for sale, with 39 new listings being added in March. The homes for sale in Watertown CT range from a 1,092 square ft, 2-bedroom ranch listed at $69,900 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,695,000.
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The average list price of the homes currently available for sale in Watertown CT is $350,025. The average days on market for these homes are 88 days. In addition, there are currently 25 homes under contract in Watertown CT, with 17 going under contract in March.
In March 2016, 16 homes closed in Watertown CT. They ranged from an 1,552 square ft, 4-bedroom colonial, which sold for $90,529 to a 2,372 square ft, 3-bedroom, colonial which sold for $385,000. The average price for the homes that closed in March in Watertown CT was $212,889 with average days on market of 58 days. The closed properties had a Sales price to List price ratio of 98%.
By comparison, there were 21 closings in Watertown CT for the month of March 2015, with an average sales price of $249,655 and avg. days on market of 86.
This indicates that for March of 2016, there were 5 less homes sold than in March 2015, with an average price 15% less than for the same period for the previous year with less time on market. This shows that there was an downward change in units and value for the state of the real estate market in Watertown CT over the same period the previous year, which is a very negative direction.
For the year 2015, the market sales or absorption rate was 19 sales per month, with an average sales value of $216,383 and average days on market of 83.
For the first quarter of 2016, the market sales or absorption rate for Watertown CT was 13 sales per month, with an average sales value of $209,508 and average days on market of 77. This rate with the current inventory would be a 10+ month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Watertown CT for 2015-2016 with strong fluctuations from month to month. The values in Watertown CT are not stabilized as yet.
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 March 2016
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