November 2014 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 144 active residential listings for sale, with 24 new listings being added in November. The homes for sale in Watertown CT range from a 1,090 square ft, 2-bedroom cape 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 $379,878. The average days on market for these homes are 191 days. In addition, there are currently 17 homes under contract in Watertown CT, with 3 going under contract in November.
In November 2014, 13 homes closed in Watertown CT. They ranged from a 1,408 square ft, 3-bedroom colonial, which sold for $100,000 to a 2,008 square ft, 3-bedroom, colonial which sold for $340,000. The average price for the homes that closed in November in Watertown CT was $193,315 with average days on market of 151 days. The closed properties had a Sales price to List price ratio of 97.4%.
By comparison, there were 15 closings in Watertown CT for the month of November 2013, with an average sales price of $220,680 and avg. days on market of 122. This indicates that for November of 2014, there were 2 less homes sold than in November 2013, with an average price 10% less for the same period for the previous year with less time on market. This shows that there was 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 November 2014
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