Property Sales
October Property sales were 13, down -7.1% from 14 in October of 2010 and -18.8% lower than the 16 sales last month. October 2011 sales were at their lowest level compared to October of 2010 and 2009. October YTD sales of 164 are running 1.2% ahead of last year's year-to-date sales of 162.
Prices
The Median Sales Price in October was $300,000, up 15.6% from $259,500 in October of 2010 and down -4.4% from $313,875 last month. The Average Sales Price in October was $315,934, up 22.1% from $258,821 in October of 2010 and down -7.1% from $340,203 last month. October 2011 ASP was at highest level compared to October of 2010 and 2009.
Inventory & MSI
The Total Inventory of Properties available for sale as of October was 97, down -12.6% from 111 last month and down -14.9% from 114 in October of last year. October 2011 Inventory was at a mid range compared to October of 2010 and 2009.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The October 2011 MSI of 7.5 months was at a mid range compared with October of 2010 and 2009.
Market Time
The average Days On Market(DOM) shows how many days the average Property is on the Market before it sells. An upward trend in DOM tends to indicate a move towards more of a Buyer's market, a downward trend a move towards more of a Seller's market. The DOM for October was 100, up 96.1% from 51 days last month and up 44.9% from 69 days in October of last year. The October 2011 DOM was at its highest level compared with October of 2010 and 2009.
Selling Price per Square Foot
The Selling Price per Square Foot is a great indicator for the direction of Property values. Since Median Sales Price and Average Sales price can be impacted by the 'mix' of high or low end Properties in the market, the selling price per square foot is a more
normalized indicator on the direction of Property values. The October 2011 Selling Price per Square Foot of $142 was down -3.4% from $147 last month and down -6.6% from $152 in October of last year.
Selling Price vs Original Listing Price
The Selling Price vs Original Listing Price reveals the average amount that Sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer's market exists, a ratio at or above 100% indicates more of a Seller's market. The October 2011 Selling Price vs Original List Price of 96.7% was down from 97.1% last month and up from 95.9% in October of last year.
Inventory / New Listings / Sales
'This last view of the market combines monthly inventory of Properties for sale along with New Listings and Sales. The graph shows the basic annual seasonality of the market as well as the relationship between these items. The number of New Listings in October 2011 was 18, down -51.4% from 37 last month and down -25.0% from 24 in October of last year
If you, or someone you know are looking to buy, or sell a Single Family Home in South Windsor, Hartford county, please give me a call: (860) 648-9270. I will be glad to assist you with your real estate needs!
You can surf my website for more information on our market: www.WeNeedANewHouse.com
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