Wethersfield Single Family Homes Market Activity as of 11/30/2010

By
Real Estate Agent with William Raveis Real Estate

During November the inventory of single family homes in Wethersfield decreased slightly. This is typical for this time of year. Despite attractive low mortgage interest rates, new pending sales also decreased this month. Again this may be due to the time of year, but we should keep an eye on pending sale volumes for any new trends or patterns.

November 2010 Market Activity

  On Market Pending Sales Closed Sales
November Volumes 17 New Listings 8 Went Under Contract 7 Closed This Month
Total Volumes 125 Homes on Market 30 Total Pending 192 Sold Year to Date
Most Expensive $769,500 $584,750 $850,000
Least Expensive $131,900 $150,000 $105,000
% With Price Reductions 58.4% 40.0% 52.08%

The percentage of active listings with price reductions continues to increase. This is not necessarily an indication of a declining market, but more likely a reflection of homes priced outside the market. In fact, in Wethersfield, the median and average single family home prices have increased in 2010 over 2009.

 October 2010 Market Activity

  On Market Pending Sales Closed Sales
October Volumes 31 New Listings 16 Went Under Contract 21 Closed This Month
Total Volumes 132 Homes on Market 31 Total Pending 185 Sold Year to Date
Most Expensive $799,900 $584,750 $850,000
Least Expensive $134,900 $145,000 $105,000
% With Price Reductions 54.01% 48.39% 52.97%

Today’s home buyer is a comparison shopper. If all things are equal (size, bedrooms, baths, improvements, location, etc.), today’s buyer will buy the less expensive home in their price range. Homes priced “in the market” will sell faster with fewer or no price reductions at a higher sale price to list price ratio. What does pricing a home “in the market” mean? Please share your thoughts in the comments section below, or on my Facebook page, Maria Hagan’s Guide to Living in Greater Hartford. I’d like to hear your thoughts.

Maria Hagan
Hartford CT Real Estate Agent
East Hartford CT Real Estate Agent
Wethersfield CT Real Estate Agent
Rocky Hill CT Real Estate Agent
Homes for Sale in Greater Hartford CT

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Comments (1)

George Souto
George Souto NMLS #65149 FHA, CHFA, VA Mortgages - Middletown, CT
Your Connecticut Mortgage Expert

Maria it is nice to hear that the median and average single family home prices have increased in 2010 over 2009 in Wethersfield.

Dec 13, 2010 11:11 AM