Shelton CT Condo Market Report for November 2010
Condo sales in Shelton (Huntington) CT for November 2010 showed a sharp decrease in sales compared to the same period last year. The end of November 2009 was also the FIRST end of the homebuyer tax credit, until it was extended to April and then to June, so the numbers were inflated.
Take a look at the other numbers for some better news.
Average list price and average selling price showed a 15% and 13% INCREASE respectively. The median sales figure came in 28% HIGHER than last year.
Note that days on the market showed an increase of 52% skewed by abnormally high market time of two sales.
After the spike in June sales due to the homebuyer tax credit, condo sales rebounded a bit and have been relatively flat the last three months.
Following are the Shelton, CT condo property transfers for November 1-30 recorded as of December 8, 2010. The high sale was in Crescent Village, and the low sale was in Heather Ridge.
The hot spot for November sales was in the $300K-400K range.
The absorption trend for the last three months indicates a 9.81% rate. Based on the current inventory and the number of solds, it would take 9.81 months to sell your condo.
Moving forward, there are currently 7 units with deposits and 16 units under contract.
As the inventory thins out during the holidays because sellers hold back from listing thinking it's a bad time to do so (wrong!), the rate will be lower. If you're thinking of selling, there is less inventory right NOW meaning less competition.
If you do decide to sell, your listing agent must calculate the absorption rate for your price range. This will help you to determine if you need to adjust your pricing OR if you have not listed yet, determine the best price.
Be sure to check the Shelton CT Single Family Market Report for November 2010 and also Shelton CT Condos for Sale.
Shelton CT Condo Market Report for November 2010
Date Source: Greater Fairfield County Multiple Listing Service -- December 8, 2010. No representation or warranty is made to the accuracy of this information.
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