Monroe CT real estate sales and averages ended 2014 on a high note!
Real estate sales for December 2014 INCREASED 27% as compared to December 2013 closed sales.
Average list and sales prices INCREASED 26% and 23% respectively. The median home price INCREASED 29%.
Additionally, sales were UP 100% from November 2014. See annual chart below.
Days on the market went up 66%, the only negative for the month.
Market absorption came down significantly to 6.36 months meaning it would take 6.36 months to sell off the present inventory keeping Monroe in a buyer's market statistically. Note that these are numbers and straight calculations. A house can still be sold in a very short period of time provided it is priced correctly, prepared to sell and marketed extensively. There ARE buyers out there waiting for more inventory!
CLICK HERE TO SEARCH for Your New Home in Monroe, CT
Futures show 12 houses under deposit and 11 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. Don't make the #1 biggest mistake!
Which houses attracted buyers and sold in Monroe CT in December 2014?
Monroe CT December 2014 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 1/19/1015)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 8.90 for the last three months, which statistically is a buyer's market. Again, sellers should not be discouraged as a properly priced and marketed home will get results.
Note 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.
Nice jump from last month!
SEARCH for Your New Home in Monroe, CT
The 'sweet spot' for sales this month was shared by the $200K - $300K range along with the most popular $300K-400K price range. If your home is in the $200K-$400K range, prepare your home wisely for a sale. Refer back to the 'seller mistake' link above.
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 -- January 19, 2015. No representation or warranty is made to the accuracy of this information.
Related Monroe CT Posts:
Monroe CT Market Report Archive
Whitney Farms Homes and Golf Course Monroe CT 06468
Great Oak Farm Colonial Homes in Monroe CT
Monroe CT Real Estate Market Report and Homes Sold December 2014
Comments(2)