August 2014 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 193 active residential listings for sale, with 29 new listings being added in August. The homes for sale in Watertown CT range from a 624 square ft, 2-bedroom REO lakefront cottage listed at $54,900 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 $303,951. The average days on market for these homes are 161 days. In addition, there are currently 17 homes under contract in Watertown CT, with 7 going under contract in August.
In August 2014, 15 homes closed in Watertown CT. They ranged from a 1,582 square ft, 3-bedroom colonial, which sold for $65,000 to a 2,614 square ft, 3-bedroom, colonial which sold for $380,000. The average price for the homes that closed in August in Watertown CT was $193,774 with average days on market of 73 days. The closed properties had a Sales price to List price ratio of 97%.
By comparison, there were 13 closings in Watertown CT for the month of August 2013, with an average sales price of $191,338 and avg. days on market of 39. This indicates that for August of 2014, there were 2 more homes sold than in August 2013, with an average price almost the same as the same period for the previous year with longer time on market. This shows that there was little 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 August 2014