Stratford CT single family home sales continue on an upward trend in year-to-year comparisons. February 2016 closed sales INCREASED 12% compared to February 2015 sales and were also up 15% from last month. See annual chart below.
Listing and closed price averages both went down 25% with the median showing a truer picture with a 6% decrease. The significant outlier last year at $1.45 million as well as a few other February 2015 higher end sales brought 2015 averages up. The median, which is the midpoint of all sales, is a better indicator of market activity when the complete dataset is analyzed.
Days on the market went DOWN 11% which is a positive.
The absorption rate for the month stayed in seller's market territory at 5.63 months, meaning if there was no new inventory, it would take 5.63 months to sell off the active 214 listings.
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Moving forward, there are 66 houses under deposit and 79 pending sales (under contract). That is roughly a 20% increase over last month.
Which houses made the SOLD list in Stratford CT in February 2016?
Stratford CT February 2016 Property Transfers
(as recorded in the Greater Fairfield County MLS as of 3/26/16)
The 100K - $200K range just squeaked out the top spot for sales with the $200K - $300K range right behind it. Stratford CT still remains a very desirable, affordable town for first time buyers and downsizers.
The absorption TREND, which shows the number of months it would take to sell the entire inventory at the same pace, came in at 4.86 months for the last three months, still solidly in a seller's market.
Keep in mind that this rate is for ALL houses. If you are selling your home, your agent should calculate the absorption rate for your price point to get a more accurate analysis. Some price points favor sellers; others favor buyers.
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The success in selling your house in Stratford 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.
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Sales in February on the upswing from January.
The high number of sales in the $100k - $200K range kept the monthly average down by comparison for the year.
Check out previous sales and averages here.
Stratford CT Real Estate Market Report Archive
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Date Source: Greater Fairfield County Multiple Listing Service -- March 26, 2016. No representation or warranty is made to the accuracy of this information.
Stratford CT Real Estate Market Report and Homes Sold February 2016
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