Market Activity Report for Windsor CT - June 2011
Welcome to the Windsor, CT Real Estate Market Update
presented by The Master's Key Realty for the
Month of June 2011.
RESIDENTIAL SINGLE FAMILY HOMES
Currently there are 170 actively listed Residential Homes in Windsor, CT. Of these, 44 were listed during the month of June. Also, this inventory is up from 132 just three months ago.
These homes range in price from $85,000 to $424,900.
248 Matianuck Avenue is the lowest priced home in town at this time, asking $85,000. It is listed as a 1343 sq.ft. home w/4 rooms, 3 bedrooms and 1 bath, built in 1929, and needing a considerable amount of work.
39 Remington Road is the median priced home in Windsor CT at this time, asking $220,000. It is a 1945 built colonial with 2063 sq.ft. of living space, 8 rooms, 4 bedrooms, 2.5 baths, and a 2 car attached garage. It has a remodeled kitchen w/granite counters and maple cabinets, 2 FP, cathedral ceilings, skylights, 1st floor laundry, and has two decks, an above ground pool and shed on a 0.25 acre lot.
37 Mary Catherine Circle is currently the highest priced home in Windsor, CT, asking $424,900. This is a spacious 4000 sq.ft. Tudor styled Colonial in the Kendrick Place subdivision in Poquonock. Built in 1986, it offers 11 rooms, 4 bedrooms, 3 full baths, and a 2 car attached garage on a 0.82 acre lot. It's gourmet island kitchen has corian and granite counters, stainless steel appliances. Other features include Central AC, FP, a library and a greenhouse style sunroom.
They have been on the market from 1 day to 835 days. It is not uncommon as the number of homes on the market climbs, that the days on the market will often extend if there is not sufficient demand to absorb the inventory of homes on the market. Right now there are 28 homes on the market in Windsor that have been on the market for more than six months without selling.
Of interest is that there are currently 27 houses on the market in Windsor for under $150,000. This is a great time for buyers to find that affordable home!
SALES ACTIVITY:
During the month of June, 6 homes went under contract in Windsor CT. In comparison, in 2010, 13 homes went under contract in the month of June. This reflects that sales activity for the month of June was off by about 50% as compared to this time last year. Sales are also down from last month which saw 9 homes go under deposit.
In addition, 18 properties were sold (closed sales) in Windsor during the month of June 2011, ranging from $130,000 to $336,800. Closed sales were on the market before going under deposit an average of 41 days. In comparison, in 2010, there were 31 closed sales in the month of June, so closed sales are off about 40% from this same time last year.
With 18 homes selling in one month, and 170 homes on the market, the absorption rate is 9-10. This means that it would take 9 to 10 months to absorb the current inventory of homes now on the market. If you are thinking about selling your home in Windsor, CT, this should help you determine the most suitable pricing on your house for sale to meet your desired selling time.
CONDOMINIUMS
Currently there are 48 actively listed Condominiums in Windsor, CT. Of these, 16 were listed during the month of June 2011. These condos range from in price from $19,900 to $363,033. Seven of these condos were located at Delamere Woods, which is an age restricted community for those 62+ years, and 11 other units are age restricted "Active Adult 55+ Communities". Also notable is that 20 of the 48 listed condominiums are New Construction units.
The average list price of a condo in Windsor CT is $237,500.
924 High Path Road in Chateau Woods condominiums is the lowest price active listed condo in Windsor at this time. It is listed for $74,900, and is a 3 room, 1 BR, 1.5 bath flat. The monthly condo fee for this unit is $236 including heat and hot water.
11 Hudson Lane in Griswold Village is the median priced condominium in town, currently listed for $239,900. It is a 1581 sq.ft. Ranch style unit w/6 rooms, 3 bedrooms, 2 full baths and a 1 car attached garage. It has a full basement, and a lovely 3 season porch. The monthly fee for this unit is listed as $220/month. Griswold Village is an Active Adult 55+ Community.
14 Haskins Road is a new construction unit at Country Walk in Poquonock and represents the top of the active condominium market in Windsor priced at $363,033. This is the Madison model and offers 2475 sq.ft. of living space. With 9 rooms, 3 bedrooms, 2.5 baths and a 2 car attached garage, this unit is listed with central air, deck, full basement and nearly $40,000 of upgrades.
SALES ACTIVITY:
There was only one new deposit on a condominiums taken in Windsor CT in June 2011. The single condo sold in June 2011 was a Chateau Woods townhouse condo (2 BR, 2.5 baths) listed for $79,900. In comparison, in June of 2010, there were two deposits taken on condominium listings, and last month saw four condominiums go under deposit.
There were five condos sold in Windsor CT in the month of June 2011 ranging from $130,000 to $285,000. The average days on market for closed condominium sales was 84.
With an average of 5 condominiums selling in one month (using closed sales), and 48 condos on the market, the absorption rate is 9.6. This means that it would take between 9 and 10 months to absorb the current inventory of condominium homes now on the market. If you are thinking about selling your condominium home in Windsor, CT, this should help you determine the most suitable pricing on your condo for sale to meet your desired selling time.
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If you are thinking about buying or selling a home in Windsor CT or anywhere in Hartford County, please call me for a personal consultation. I would be more than happy to discuss marketing and pricing strategies, and how absorption rates affect your pricing, or to answer any other questions you may have about real estate.
If you know somebody who is having difficulty in the current economy and struggling with their mortgage payment and doesn't know what to do, I may be able to help them understand their many options, especially if they are facing foreclosure! Please suggest they give me a call. All referrals will be handled professionally and confidentially, just as you would expect!
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