FREE Market Action Report. South Windsor, CT, July 2011-july 2012
July Property sales were 25, up 19.0% from 21 in July of 2011 and 13.6% higher than the 22 sales last month. July 2012 sales were at their highest level compared to July of 2011 and 2010. July YTD sales of 112 are running 2.8% ahead of last year's year-to-date sales of 109.
The Median Sales Price in July was $263,900, down -9.6% from $291,900 in July of 2011 and up 12.4% from $234,775 last month. The Average Sales Price in July was $276,632, down -17.1% from $333,798 in July of 2011 and up 2.7% from $269,475 last month. July 2012 ASP was at the lowest level compared to July of 2011 and 2010.
Inventory & MSI
The Total Inventory of Properties available for sale as of July was 116, equal to 116 last month and up 0.9% from 115 in July of last year. July 2012 Inventory was at highest level compared to July of 2011 and 2010.
A comparatively lower MSI is more beneficial for sellers while a higher MSI is better for buyers. The July 2012 MSI of 4.6 months was at its lowest level compared with July of 2011 and 2010.
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 July was 31, down -27.9% from 43 days last month and down -46.6% from 58 days in July of last year. The July 2012 DOM was at its lowest level compared with July of 2011 and 2010
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 July 2012 Selling Price per Square Foot of $141 was up 3.7% from $136 last month and up 0.7% from $140 in July of last year.
Selling Price vs Listing Price
The Selling Price vs Listing Price reveals the average amount that Sellers are agreeing to come down from their 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 July 2012 Selling Price vs List Price of 98.0% was up from 94.6% last month and up from 96.7% in July 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 July 2012 was 33, down -8.3% from 36 last month and down -10.8% from 37 in July of last year.
If you, or someone you know, are looking to buy their new home in South Windsor, please contact me, Tatyana (860) 648-9270. I will be happy to assist you in buying your dream home.