Waterbury CT 2022 Year End Real Estate Market Analysis
The year 2022 was a year of transition to the strong buyer's market of the previous 2 years. The rise of interest rates created due to the inflationary trend put some buyers back into a waiting mode.
Businesses are on the rebound and their biggest obstacles are the rise in raw materials as well as the lack of qualified employees
In spite of this, after a brief pause the market in Waterbury CT began its rise and finished the year strong. Historically lagging in home prices, Waterbury saw a large spurt in median values and hopefully the trend will remain for the foreseeable future.
For the year 2022, the market sales or absorption rate for Waterbury CT was 77 sales per month, with an average sales value of $229,826 and average days on market of 36.
With the current inventory at 167 active homes for sale, this is slightly more than 2 months of inventory which is a very strong seller's market.
For the year 2021, the market sales or absorption rate for Waterbury CT was 87 sales per month, with an average sales value of $201,783 and average days on market of 37.
As there was a lack of homes in values attractive to buyers, the sales were still relatively strong. While the average number of homes sold were less by 10/month, the values were up over 12%.
The chart shows the increase in values each year from the start of the pandemic. Values increased appreciably and current inventories are still to a seller's advantage.
The New Year should start off strong as there are only 73 homes on market and there are 95 listings currently going through the closing process and as the weather gets warmer more activity will surely hit the market.
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 Waterbury 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 Waterbury CT.
Waterbury CT 2022 Year End Real Estate Market Analysis
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