October 2016 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 125 active residential listings for sale, with 18 new listings being added in October. The homes for sale in Watertown CT range from a 1,122 square ft, 3-bedroom REO colonial listed at $69,900 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,695,000.
The average list price of the homes currently available for sale in Watertown CT is $349,460. The average days on market for these homes are 114 days. In addition, there are currently 14 homes under contract in Watertown CT, with 7 going under contract in October.
In October 2016, 14 homes closed in Watertown CT. They ranged from an 2,105 square ft, 3-bedroom REO colonial, which sold for $77,000 to a 2,209 square ft, 4-bedroom colonial which sold for $414,920. The average price for the homes that closed in October in Watertown CT was $168,659 with average days on market of 51 days. The closed properties had a Sales price to List price ratio of 96.8%.
By comparison, there were 18 closings in Watertown CT for the month of October 2015, with an average sales price of $173,231 and avg. days on market of 57.
This indicates that for October of 2016, there were 4 less homes sold than in October 2015, with an average price $5,000 less than for the same period for the previous year with almost the same time on market. This shows that there was a decrease in value for units sold with a significant decrease in number of sold homes. This is a negative trend for Watertown CT.
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.
For the second quarter of 2016, the market sales or absorption rate for Watertown CT was 22 sales per month, with an average sales value of $225,372 and average days on market of 81.
For the third quarter of 2016, the market sales or absorption rate for Watertown CT was 26 sales per month, with an average sales value of $220,209 and average days on market of 69. This rate with the current inventory would be an 6 month absorption rate. The current market is trending to a neutral market, which is a positive trend.
The graph demonstrates the average monthly sales value in Watertown CT for 2015-2016 with strong fluctuations from month to month.
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.
Watertown CT Real Estate Sales Report for October 2016