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Condominium Market Data for Vernon, CT
Condominium Market Data for Vernon, CT

As I continue to compile data in surrounding towns, my sights turned to the Condominium Market Data for Vernon, CT.  Vernon is another neighbor of South Windsor, where our office is located.  Like Manchester, Vernon has a high concentration of condominiums.
 
Condominium Market Data for Vernon, CT 
There are 50 condominium projects in Vernon.  Of those, 22 of them have been approved with FHA at one time.  Currently, there are only 5 condominium projects approved with FHA.  Incidentally, our office has handled 3 of these approvals and we are currently working on others.  There is one pending application with FHA for approval according to FHA’s site. 
Analysis of Data
I divided the numbers into those in FHA-approved projects and those in non-FHA approved projects.  For my business, it is good to analyze the difference between the two.
Even though only 10% of the projects in Vernon are approved with FHA, 38% of the sales in Q4 of 2013 were in FHA-approved projects.  Currently, 36% of the pending sales are in FHA-approved projects.  These figures take into account the two condominium projects that have seen their FHA approvals expire since December.
The average FHA ... more

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