SOUTHBURY CT-REAL ESTATE MARKET REPORT for MAY 2015
What does the real estate market look like in Southbury CT? Entering into the summer months, Southbury CT is seeing plenty of activity as buyers search for homes in a plentiful housing market. Buyers are looking for a great bargain, though, so they are willing to wait for the right home to come along before they put in an offer.
There are 170 Southbury CT homes for sale, with an average listing price of $475,791 and a median listing price of $424,750.
There are 47 pending sales (under contract), with an average asking price of $385,514, a median asking price of $360,000, and an average of 105 days on market before accepting an offer.
11 homes were sold in Southbury CT in the month of May, with an average sale price of $567,677, a median sale price of $417,000, and an average of 150 days on market before receiving an offer. By comparison, in May 2014, 13 homes were sold in Southbury CT, with an average sale price of $336,838, a median sale price of $323,000, and an average of 93 days on market before receiving an offer.
So, what does this mean? Given the fact that there isn't much of a difference in Southbury CT between the number of sales in May 2014 and May 2015, the clearly dominating factor is price. Buyers will make offers on homes that are priced correctly much sooner than those that may be out of their reach. If buyers do not see the value that your home is offering, perhaps a second discussion with your agent about the price or any improvements that you as a seller can make may be in order.
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For further information about the Southbury CT market and to determine if this is the right time to sell, call me at (203) 558-7463 to receive a free home evaluation and a list of tips that will help you prepare your home for sale. I look forward to discussing with you Southbury CT homes for sale.