Wolcott CT Real Estate Sales Report for October 2013
Currently in Wolcott CT there are 102 active residential listings for sale. They range from a 1,118 square ft, 3-bedroom cape listed at $75,000 to a new construction 3,039 square ft, 4-bedroom colonial listed at $699,000. The average list price of the homes currently available for sale in Wolcott CT is $273,227. The average days on market for these homes is 147 days. For the month of October, there were 14 new homes listed for sale in Wolcott CT.
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There are currently 16 homes under contract in Wolcott CT. The average list price for the homes under contract is $205,713 with average days on market of 88 days.
In October, 9 homes closed in Wolcott CT. They ranged from a 1,080 sq ft, 3-bedroom ranch, which sold for $130,000 to a 2,990 Sq Ft, 3-bedroom contemporary, which sold for $265,500. Average sales price of the homes that sold was $205,531. Average DOM of 89 days. The closed properties had a sales price to List price ratio of 95.5%.
By comparison, there were 10 closings in Wolcott CT for the month of October 2012, with an average price of $268,495 and avg. days on market of 144. This would indicate that for October 2013 the number of homes sold increased by one unit with a 22% decrease in average value with fewer days on market.
For the year 2012, the market sales or absorption rate for Wolcott CT was 8.5 sales per month, with an average sales value of $217,585 and average days on market of 74.
For the first ¼ of 2013, the market sales or absorption rate for Wolcott CT was 7 sales per month, with an average sales value of $195,605 and average days on market of 118.
For the second quarter of 2013, the market sales rate was also an average of 7 sales per month.
For the third quarter of 2013, the market sales rate was also an average of 13 sales per month. Using the same absorption rate, the current inventory of homes is equivalent to almost a 8-month inventory. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Wolcott CT for the previous 12 months with strong fluctuations from month to month. The values in Wolcott CT have not yet started to stabilize.
If you are interested in buying or selling a home in the Wolcott Ct area send me an email or call and we can set up a time to meet.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Wolcott CT, please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discusshomes on the market in Wolcott CT.
Wolcott CT Real Estate Sales Report for October 2013
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