Market Statistics for Wolcott CT August 2014
Currently in Wolcott CT there are 157 active residential listings for sale. They range from a 1,331 square ft, 4-bedroom cape, as a for cash sale only 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 $278,820. The average days on market for these homes is 129 days. For the month of August, there were 40 new homes listed for sale in Wolcott CT.
There are currently 17 homes under contract in Wolcott CT. The average list price for the homes under contract is $210,282 with average days on market of 148 days.
In August 2014, 15 homes closed in Wolcott CT. They ranged from a 1,104 sq ft, 3-bedroom ranch, which sold for $110,000 to a 2,700 Sq Ft, 4-bedroom colonial, which sold for $375,000. Average sales price of the homes that sold was $212,993. Average DOM of 91 days. The closed properties had a sales price to List price ratio of 96.5%.
By comparison, there were 9 closings in Wolcott CT for the month of August 2013, with an average price of $215,945 and avg. days on market of 41. This would indicate that for August 2014 the number of homes sold was significantly greater than the comparable period in 2013 with a 1% 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 2014, 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.
For the second quarter of 2014, the market sales rate was equivalent to 11 sales per month, with an average sales value of $211,055 and average days on market of 116. 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 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 August 2014