September 2014 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 177 active residential listings for sale, with 28 new listings being added in September. The homes for sale in Watertown CT range from a 624 square ft, 2-bedroom REO lakefront cottage listed at $54,900 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,495,000.
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The average list price of the homes currently available for sale in Watertown CT is $360,476. The average days on market for these homes are 176 days. In addition, there are currently 20 homes under contract in Watertown CT, with 10 going under contract in September.
In September 2014, 31 homes closed in Watertown CT. They ranged from a 1,608
square ft, 4-bedroom REO ranch needing complete rehab, which sold for $45,900 to a 7,500 square ft, 5-bedroom, Georgian colonial which sold for $1,090,000. The average price for the homes that closed in September in Watertown CT was $257,954 with average days on market of 125 days. The closed properties had a Sales price to List price ratio of 95%.
By comparison, there were 10 closings in Watertown CT for the month of September 2013, with an average sales price of $215,400 and avg. days on market of 81. This indicates that for September of 2014, there were 3 times as many homes sold than in September 2013, with an average price 20% greater for 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.
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.
For the third quarter of 2014, the market sales rate was equivalent to 32 sales per month, with an average sales value of $228,975 and average days on market of 89. Using the third quarter absorption rate, the current inventory of homes is equivalent to a 6+ month inventory. The current market would be considered a neutral 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.
If you would like information on homes for sale in Watertown CT please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Watertown CT.
Watertown CT Real Estate Sales Report for September 2014
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