Market Statistics for Wolcott CT May 2014
Currently in Wolcott CT there are 132 active residential listings for sale. They range from a 884 square ft, 2-bedroom ranch listed at $74,900 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 $284,710. The average days on market for these homes is 144 days. For the month of May, there were 32 new homes listed for sale in Wolcott CT.
There are currently 11 homes under contract in Wolcott CT. The average list price for the homes under contract is $196,382 with average days on market of 134 days.
In May 2014, 14 homes closed in Wolcott CT. They ranged from a 1,949 sq ft, 2-bedroom REO ranch, which sold for $68,150 to a 2,338 Sq Ft, 4-bedroom colonial, which sold for $342,500. Average sales price of the homes that sold was $211,825. Average DOM of 89 days. The closed properties had a sales price to List price ratio of 94%.
By comparison, there were 12 closings in Wolcott CT for the month of May 2013, with an average price of $198,695 and avg. days on market of 43. This would indicate that for May 2014 the number of homes sold was slightly better by 2 units than the same as the previous May with a 10% increase in average value with more days on market.
For the year 2013, the market sales or absorption rate for Wolcott CT was 10 sales per month, with an average sales value of $213,830 and average days on market of 82.
For the year first quarter of 2013, the market sales or absorption rate for Wolcott CT was 10 sales per month, with an average sales value of $197,746 and average days on market of 84. Using the same absorption rate, the current inventory of homes is equivalent to a 12-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.
Wolcott CT Real Estate Sales Report for May 2014