MIDDLEBURY CT-REAL ESTATE MARKET REPORT for JUNE 2015
What does the real estate market look like in Middlebury, CT? Home values have been climbing inconsistently over the past year in Middlebury CT, but they are climbing. More home sales than normal for this time of year, a drop in days on market for homes sold, and an increase in the number of pending sales makes it look like now is the best time for sellers to put their homes on the market. But beware: even with lower days on market, there are still about 18 months worth of homes to be sold at the current rate of 5 homes per month being sold.
There are currently 91 Middlebury CT homes for sale, with an average listing price of $491,988, and a median listing price of $369,900.
There are 24 pending sales (under contract), with an average asking price of $369,596, a median asking price of $322,000, and the days on market before getting an acceptable offer averaging at 93 days.
9 homes were sold in Middlebury CT in the month of June, with an average sale price of $456,167, a median sale price of $339,900, and an average of 92 days on market before receiving an offer. By comparison, in June 2014, 3 homes were sold, with an average sale price of $389,333, a median sale price of $375,000, and an average of 144 days on market before receiving an offer. This year's figures represent a 17% increase in average sale prices, and a decrease of 36% in the number of days on market, from last year.
So, what does this all mean? For sellers in Middlebury CT, the pending and average sale prices and number of sales are signs for guarded optimism. The fact that prices are rising does not necessarily mean that every home will sell right away. The best way to make sure that your home gets sold, if you do decide to put your home on the market, is to hire a competent real estate agent who knows the Middlebury CT market, will price your home based on recent market sales, and who will give you excellent advice on how to prepare your home to attract potential buyers.
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For further information about the Middlebury 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 Middlebury CT homes for sale.