Vernon CT Market Report for October 2011
October 2011 was a great month for Vernon CT real estate. There were 16 closed sales with a median price of $171,750, compared with 12 closed sales with a median price of $155,000 in October 2010. Both number of sales and median price increased this October over last.
In addition, days on market (DOM) decreased this October over last October (64 vs. 83) and list price to sale price ratio was virtually unchanged (97.05 in October 2011 vs. 97.15 in October 2010).
Here is the breakdown by price range:
| Price Range | October 2011 | October 2010 |
| Under $100,000 | 2 | 2 |
| $100,000-$149,999 | 3 | 3 |
| $149,999-$199,999 | 6 | 5 |
| $200,000-$249,999 | 1 | 1 |
| $250,000-$299,999 | 2 | - |
| $300,000-$349,999 | 1 | - |
| $350,000-$399,999 | - | 1 |
| Over $400,000 | - | - |
| Total | 16 | 12 |
Not only did the statistics improve over last year, but they also improved over the previous month. The number of closed sales in October is a healthy level for Vernon; in fact, it is the second highest month for the entire year. Here is the recap for each month of 2011 so far:
| Month | # of Closed Sales | Median Price |
| October | 16 | $171,750 |
| September | 12 | $161,500 |
| August | 14 | $295,250 |
| July | 12 | $210,000 |
| June | 18 | $138,750 |
| May | 14 | $177,500 |
| April | 5 | $155,000 |
| March | 7 | $206,000 |
| February | 13 | $140,000 |
| January | 11 | $196,500 |
There are also 14 homes under contract and 20 homes under deposit, so the level of closed sales in Vernon CT should be maintained in November.
If you are looking for a home in Vernon CT, there are currently 127 on the market, ranging in price from $9,900 for a two-bedroom, one-bath mobile home to $405,000 for a four-bedroom, 3.1 bath, 3104 sq. ft. colonial. The median price for all current listings is $201,900. Given the current activity and active listings, the absorption rate in Vernon CT is 10 months. Inventory has been decreasing which could lower the absorption rate further.
Vernon CT offers something for everyone. From lower priced mobile homes to moderately priced homes in great neighborhoods to new construction to age-restricted communities, Vernon has affordable alternatives, no matter what your budget. With its proximity to Hartford and UConn as well as easy access to highways, shopping, recreation, and other conveniences, Vernon should be on your list if you are looking for great real estate values.
Use the search tool to enter your criteria to see exactly what is on the market in Vernon CT. If you would like help with your search, please give me a call.
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