Vernon CT Market Report for August 2011
The Vernon CT housing market in August 2011 was slightly up in closed sales and somewhat down in median price. There were 13 closed sales with a median price of $196,500, compared to 12 closed sales in August 2010 with a median price of $214,700. The breakdown by price range shows an interesting pattern:
Price Range | August 2011 | August 2010 |
Under $100,000 | 3 | - |
$100,000-$149,999 | 1 | - |
$149,999-$199,999 | 3 | 3 |
$200,000-$249,999 | 6 | 4 |
$250,000-$299,999 | - | 3 |
$300,000-$349,999 | - | - |
$350,000-$399,999 | - | - |
Over $400,000 | - | 1 |
Total | 13 | 12 |
When we look at the summary of each month since January, we can see that both number of closed sales and median price show great variability:
Month | # of Closed Sales | Median Price |
July | 11 | $200,000 |
June | 17 | $145,500 |
May | 14 | $177,500 |
April | 5 | $155,000 |
March | 7 | $206,000 |
February | 13 | $140,000 |
January | 11 | $196,500 |
It will be interesting to see how the Vernon real estate market does over the next few months. First of all, there are 12 homes under contract and 21 homes under deposit, which is a good number overall. But there are 149 active listings, so it is going to take some time to sell off the current inventory levels. The absorption rate in Vernon is 14 months, which is clearly a buyers' market.
If you are looking for a home in Vernon, there are, as was stated, 149 active listings, ranging in price from $12,000 for a mobile home to $410,000 for a three-bedroom, two-bath ranch with an extra lot. The median price is $204,900. There are 32 homes on the market priced between $150,000 and $199,999; there are 39 homes priced between $200,000 and $249,999, for a total of 71 homes between $150,000 and $250,000! Vernon has great neighborhoods, with virtually something for everyone. If you want to check out current listings, you can change the criteria to fit what you are looking for.
Be sure to give me a call if you would like help with your search.
Comments (1)Subscribe to CommentsComment