Naugatuck CT Real Estate Statistics for November 2016
Currently in Naugatuck CT there are 160 active residential listings for sale, with 11 new listings being added in November. The homes for sale in Naugatuck CT range from a 720 square ft, 2-bedroom mobile home, listed at $31,900 to a 1,276 square ft, 3-bedroom English Manor house listed at $749,000.
The average list price of the homes currently available for sale in Naugatuck CT is $191,645. The average days on market for these homes are 189 days. In addition, there are currently 26 homes under contract in Naugatuck CT, with 9 having going under contract in November.
In November, 27 homes closed in Naugatuck CT. They ranged from a 504 square ft, 1-bedroom mobile home, which sold for $14,000 to a 2,232 square ft, 4-bedroom colonial which sold for $298,700. The average price for the homes that closed in November in Naugatuck CT was $163,369 with average days on market of 84 days. The closed properties had a Sales price to List price ratio of 93.4%.
By comparison, there were 28 closings in Naugatuck CT for the month of November 2015, with an average sales price of $152,050 and avg. days on market of 89. This indicates that for November of 2016, there was 1 less home sold than in November 2015, and at an average price almost 8% greater with similar days on market, which would demonstrate an increased market for values and less time on market. This shows a slightly improving market for value only.
For the year 2015, the market sales or absorption rate was 25 sales per month, with an average sales value of $152,908 and average days on market of 97. Using the rate for 2015 for current inventory would give Naugatuck CT a 7 month inventory of homes.
For the first quarter of 2016, the market sales or absorption rate for Naugatuck CT was 17 sales per month, with an average sales value of $148,304 and average days on market of 78.
For the second quarter of 2016, the market sales or absorption rate for Naugatuck CT was 30 sales per month, with an average sales value of $166,814 and average days on market of 76.
For the third quarter of 2016, the market sales or absorption rate for Naugatuck CT was 30 sales per month, with an average sales value of $158,241 and average days on market of 80. This rate with the current inventory would be a 7+ month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Naugatuck CT for a 12 month span with strong fluctuations from month to month. The values in Naugatuck CT appear to be trying to not only stabilize but an indication of an appreciation for value as well.
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 evaluating your home for possible sale.
What’s My Naugatuck CT Home Worth in November 2016