July 2014 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 206 active residential listings for sale, with 37 new listings being added in July. The homes for sale in Watertown CT range from a 1,152 square ft, 3-bedroom colonial listed at $56,000 to a 8,908 square ft, 5-bedroom, colonial estate on 12 acres listed at $1,465,000.
The average list price of the homes currently available for sale in Watertown CT is $311,053. The average days on market for these homes are 160 days. In addition, there are currently 14 homes under contract in Watertown CT, with 4 going under contract in July.
In July 2014, 19 homes closed in Watertown CT. They ranged from a 1,292 square ft, 3-bedroom colonial, which sold for $56,705 to a 2,020 square ft, 3-bedroom, colonial which sold for $325,000. The average price for the homes that closed in July in Watertown CT was $213,440 with average days on market of 73 days. The closed properties had a Sales price to List price ratio of 94.6%.
By comparison, there were 25 closings in Watertown CT for the month of July 2013, with an average sales price of $201,130 and avg. days on market of 64. This indicates that for July of 2014, there were 6 less homes sold than in July 2013, but with an average price 5% lower with slightly more time on market. This shows that there was some appreciable change in values for the state of the real estate market in Watertown CT over the year but not to a positive.
For the year 2013, the market sales or absorption rate was 15 sales per month, with an average sales value of $206,615 and average days on market of 94.
For the year first quarter of 2014, the market sales or absorption rate for Watertown CT was 11 sales per month, with an average sales value of $202,770 and average days on market of 146.
For the second quarter of 2014, the market sales rate was equivalent to 13 sales per month, with an average sales value of $222,881 and average days on market of 79. Using the second quarter absorption rate, the current inventory of homes is equivalent to a 12+ month inventory. The current market is still considered a strong buyer’s market.
The graph demonstrates the average monthly sales value in Watertown CT for 2013 with strong fluctuations from month to month. The values in Watertown CT have not yet stabilized.
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.
Watertown CT Real Estate Sales Report for July 2014