SOUTHBURY CT-REAL ESTATE MARKET REPORT for JULY 2015
What does the real estate market look like in Southbury CT? Real estate prices in Southbury CT continue to rebound. Average sale prices have climbed above where they were at this time last year, even with a few dips in price along the way. The number of homes that have sold or are pending is still encouraging along with the increase in home values, but current and potential sellers should still not expect to see homes fly off the shelves just yet as average days on market still hovers between 3 and 4 months.
There are 178 Southbury CT homes for sale, with an average listing price of $468,938 and a median listing price of $424,450.
There are 49 pending sales (under contract), with an average asking price of $410,783, a median asking price of $392,000, and an average of 106 days on market before accepting an offer.
20 homes were sold in Southbury CT in the month of July, with an average sale price of $438,960, a median sale price of $408,900, and an average of 83 days on market before an offer was accepted. By comparison, in July 2014, 11 homes were sold in Southbury CT, with an average sale price of $278,223, a median sale price of $215,950, and an average of 101 days on market before accepting an offer. This year's figures represent a 58% increase in average sale prices, and a 18% decrease in average days on market, from last year.
So, what does this all mean? Increasing prices are a good sign for potential sellers, but what matters to current sellers is not only getting the right price, but also selling in a reasonable amount of time. As prices continue to rise, getting an acceptable offer quickly comes down to one thing: perceived value. The best way to get an offer quickly is to consult with a realtor who knows the real estate market in Southbury CT, will price your home based on market conditions, and who will help you prepare your home to attract buyers so they will make that offer right away.
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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.