Monroe CT Single Family Market Report - October 2011 - Monroe CT Real Estate
Monroe CT October 2011 single family home sales decreased from September, but are UP 11% from the same period last year.
A comparison to the same period last year shows list and sales prices decreased at 5% and 7% respectively. The median was down 5% and days on the market showed a 3% improvement.
Anyone who follows my market reports knows that I don't just report the numbers. I provide an in-depth analysis. I usually talk about outliers and how they affect the numbers. This report is no different. The October 2010 'high' sale of $690,000 brought the averages up for 2010. Remove that high outlier and the list and sell averages are basically the same, favoring the 2011 numbers. So, bottom line? The real estate market in Monroe CT for October 2011 compared to October 2010 was virtually the same.
Note that total sales would have been slightly higher; however, October ended with a snowstorm that knocked most of Monroe power out thus delaying a few closings.
Which houses sold in Monroe CT in October 2011 and where was the highest concentration?
Monroe CT October 2011 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 11/22/11)
50% of sales in Monroe for September 2011 were in the $300K-400K range, which continues to be the most popular price range.
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 8.58 for the last three months. This has come down considerably in the last year.
Keep in mind that this rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurate analysis.
Moving forward, there are 7 houses under deposit and 18 homes under contract.
SEARCH for Your New Home in Monroe, CT
The success in selling your house in Monroe CT or any other community is dependent upon accurate pricing, effective preparation, calculating the absorption rate for your particular price point, and having a strong online marketing presence. A house will sell if there is a synergy among all four.
CONTACT ME for advice on how to LIST, MARKET, and SELL your home effectively in today's market. All agents do not provide the same marketing services.
Date Source: Greater Fairfield County Multiple Listing Service -- November 22, 2011. No representation or warranty is made to the accuracy of this information.
Monroe CT Single Family Market Report - October 2011 - Monroe CT Real Estate
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