In Stamford CT 06902, the real estate market is in bloom like the flowers opening towards the sun. We are experiencing multiple offers, decreased inventory (compared to a year ago) and an increase in the median sales price. Let's take a look at the statistics:
The Median price for Stamford CT real estate in the single family category in the month of March was $544,000 with 43 homes sold. to give you a benchmark, in the Month of February, 34 single family homes sold with a median price of $503,775.
Curious about the homes that sold last month? Many home owners thinking about putting their home on the market should focus on comparable homes that have sold recently in their neighborhood. Focus on the number of bedrooms, baths, square footage, lot size and condition of the home. Those are all considerations buyers look at when comparing properties, and more important what the banks and appraisers are looking at when approving mortgage loans.
Wondering what your home is worth? Click here for a free no obligation analysis.
This next graph of supply and demand in the Stamford CT real estate market tells the picture that inventory is increasing, but so is the number of homes that are selling. Realtors always hear that sellers want to wait for the "Spring Market". Why? Because the flowers are out and the grass is greener and the exterior curb appeal of the house shows very well.
What comes with the Spring market, is much more competition. Last month there were 414 single family homes for sale in Stamford CT, now there are 450. But the good news is the number of sales is increasing as well. If you are thinking of buying a home, now if the time. Take a look at what the Stamford CT real estate market has to offer by clicking here.
Months of Supply: This is an interesting number that trends. This means if no additional homes were introduced to the market, at the rate of homes sold last month it would take X number of months to sell all the homes available for sale. We are currently at 2.1 months of inventory..last year we were at 8.3 months and two years ago a whopping 13.3 months of inventory. The real estate in Stamford CT is shifting. Is it too late to take advantage of it? Not really, there are still a limited number of foreclosures and short sales around, where you might get a property for less than market value. Alas remember that these opportunities may require handyman work. But buyer beware you get what you pay for...
Interested in learning more about our area and the real estate in town? Click any of the links below....If you'd like to learn even more, please give me a call/text/email. I'd love to help you with your real estate needs. Until next month, have an awesome day!
Single Family Homes in Stamford CT for sale
Condominiums in Stamford CT 06902 for sale
Rental Properties in Stamford CT
Stamford CT Foreclosures for sale
Contact me - I want to buy and or sell a home
Comments(3)