ANOTHER nice increase in homes sales in Monroe CT! Real estate closed sales for October 2015 went UP 79% as compared to October 2014 closed sales.
Average list and sales prices INCREASED 12% and 13% respectively with the median going UP 5% as well. Sales were also up 14% from last month. See chart below.
Market absorption came in at 6.31 months meaning it would take 6.31 months to sell off the present inventory of 101 homes keeping Monroe in a buyers market statistically.
CLICK HERE TO SEARCH for Your New Home in Monroe, CT
Futures show 19 houses under deposit and 18 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 October 2015?
Monroe CT October 2015 Homes Sold
(as recorded in the Greater Fairfield County MLS as of 11/25/2015)
The absorption trend, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 6.31 for the last three months, which statistically is a buyer's market.
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.
Sales crept up a little from last month and overall are still a lot better as compared to last year.
Compared to last month there were a lot more lower end sales in October, similar to neighboring towns, bringing the average down.
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The 'sweet spot' for sales this month was shared across the $300K - $500K ranges. with 50% of sales. No matter which range you are in, prepare your home wisely for a sale. Refer back to the 'home 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 -- November 25, 2015. No representation or warranty is made to the accuracy of this information.
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Monroe CT Real Estate Market Report and Homes Sold October 2015
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