North Haven CT Market Update for March 2012

North Haven CT Market Update for March 2012

Here's the way the housing market is shaping up in North Haven as of March 31, 2012: 

There are currently 114 single family homes for sale in North Haven:

• Low list price: $125,000
• High list price: $1,499,000
• Average list price: $369,177
• Median list price: $294,450
• Average Days on Market: 135
• Homes sold on average for 95.4% of list price

There are 43 homes currently under contract, priced between $112,000 and $795,000. Based on the number of homes sold in March (8), it would take approximately 14 months to sell the current inventory.

As for condominiums, there are currently 11 condos for sale:

• Low list price: $64,900
• High list price: $259,000
• Average list price: $159,336
• Median list price: $189,000
• Average Days on Market: 0
• Condos sold on average for 0% of list price (no sales)

There are currently 3 condos under contract, priced between $169,900 and $279,900. Based on the number of condos sold in March (0), it would take forever to sell the current inventory.

Here is a chart showing annual home and condo sales in North Haven so far in 2012:

North Haven saw a little jump in its inventory levels in March, gaining 10 single family homes and 4 condos. Unfortunately, sales were down for the month, with 8 houses and no condos sold for the month. The total sales of 8 units was an exact match to March of 2011 and a 50% drop from March 2010 when 16 units sold. A couple of bright spots for the North Haven market are that the number of properties under contract increased by 59%, raising hopes for a rise in sales in April, and the average sales price for single family homes jumped by $12,000 for the month. Conventional mortgage rates have fallen back below 4% (at roughly 3.875%), and CHFA rates for first time home buyers have now reached a new low at an even 3 percent. These rates cannot remain at such low levels forever, but as long as they do and with home prices still languishing, buying a home is still an attractive proposition.

~North Haven Properties For Sale~

(zoom out to see more properties)

Related articles

• North Haven CT Market Update for February 2012 (wallingfordwired.com)