The Monroe CT single family real estate sales for August 2014 decreased 4% as compared to August 2013 closed sales. Average list and sales prices both went down 22% and 23% respectively. The median home price followed with a 24% decrease.
In August 2013 the bulk of sales were in the upper $400K- $500K range with no sales under $200K which explains the wide differential between the 2013 and 2014 sales average results.
The market absorption rate for the month was 6.65 months meaning it would take 6.65 months to sell off the present inventory pushing Monroe into a buyer's market statistically.
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Futures show 11 houses under deposit and 8 properties under contract.
Thinking of selling and want to know what your home might sell for? Get a FREE Monroe real estate comparative market analysis.
Sellers: Please read Biggest Home Seller Mistakes if you are thinking of listing your home. What do you think the #1 biggest mistake is?
Which houses attracted buyers and sold in Monroe CT in August 2014?
Monroe CT August 2014 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 9/21/14)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 5.78 for the last three months, which statistically is a seller's market.
Keep in mind that this rate is for ALL houses.
If you are selling your home, your agent should calculate the absorption rate trend for your price point to get a more accurate analysis.
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The usual 'sweet spot' of the $300K-400K price range held its position this month with 40% of the sales.
Remember, each month is a snapshot of the month including all sales. Individual price ranges and results will vary which will determine a correct listing price or amount to offer on a purchase.
Want to know what your home is worth in Monroe? Get a FREE Monroe real estate comparative market analysis done for your property.
The success in selling your house in Monroe CT or any other community is dependent upon accurate pricing, effective preparation, calculating the absorption rate for your particular price point, and having a strong online marketing presence. A house will sell if there is a synergy among all four.
CONTACT ME for advice on how to LIST, MARKET, and SELL your home effectively in today's market. All agents do not provide the same marketing services.
Date Source: Greater Fairfield County Multiple Listing Service -- September 21, 2014. No representation or warranty is made to the accuracy of this information.
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Monroe CT Real Estate Market Report and Homes Sold August 2014
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