Wallingford CT Real Estate and Homes for Sale, November 2009 Market Report

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Real Estate Agent


Wallingford CT Real Estate and Homes for Sale, November 2009 Market Report

Homes for Sale in Wallingford CT - November 2009 sales were 27, up 12.5% from 24 in November 2008 and -3.6% lower than the 28 sales last month. November 2009 sales were at their highest level compared to November of 2008 and 2007. November YTD sales of 258 are running equal to last year’s year-to- date sales of 258.

Median Price - The Median sales price in November was $230,000, up 1.5% from $226,500 in November of 2008 and up 3.2% from $222,893 last month.

Average Price – The Average Sales Price in November was $265,795, up 1.3% from $262,320 in November of 2008 and up 3.4% from $257,173 last month. November 2009 ASP (average sales price) was at a mid range compared to November 2008 and 2007.

Inventory - The total inventory of homes available for sale as of November was 150 down -7.4% from 162 last month and down -18.5% from 184 in November 2008. November 2009 Inventory was at its lowest level compared with November of 2008 and 2007.

A comparatively low MSI (month's supply of inventory) is more beneficial for sellers while a higher MSI is better for buyers.

The MSI (month’s supply of inventory) for November 2009 of 5.6 months was at its lowest level compared with November 2008 and 2007. Typically anything below a 6 month supply of inventory is considered a Sellers Market.

Market Time - The average Days On Market (DOM) shows how many days the average home is on the market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyers market, a downward trend a move towards more of a Seller's market.

The DOM (days on Market) for November was 72, down -2.7% from 74 days last month and down -10.0% from 80 days in November of 2008. The November 2009 DOM was at mid level compared with November of 2008 and 2007.

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Rainmaker
383,626
Matt Listro
National Credit Fixers - Matt Listro - Vernon, CT
Your Credit Repair Expert

Hi Kate: I wonder if the higher Nov. sales were partly due to the $8,000 tax credit.

:)

Dec 07, 2009 11:11 AM #1
Rainer
41,017
Muffy collins
Bridgeport, CT

I think it's a combo of low interest rates, great prices and the tax credit. I am looking forward to a great 2010!

Dec 11, 2009 06:01 AM #2
Rainmaker
679,495
William James Walton Sr.
WEICHERT, REALTORS® - Briotti Group - Waterbury, CT
Greater Waterbury Real Estate

Good job of explaining the MSI. Consumers would want to know that type of information, and I'll most likely start incorporating that into my market reports. Thanks.

Dec 26, 2009 02:29 AM #3
Rainer
41,017
Muffy collins
Bridgeport, CT

Hi William, Thanks for stopping by. Hope you have a great New Year, Kate

Dec 31, 2009 02:01 AM #4
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Rainer
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Muffy collins

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