May 2016 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 162 active residential listings for sale, with 27 new listings being added in May. The homes for sale in Watertown CT range from a 1,611 square ft, 4-bedroom REO cape listed at $45,000 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,695,000.
Search for Homes in Watertown CT
The average list price of the homes currently available for sale in Watertown CT is $369,413. The average days on market for these homes are 86 days. In addition, there are currently 35 homes under contract in Watertown CT, with 12 going under contract in May.
In May 2016, 24 homes closed in Watertown CT. They ranged from an 915 square ft, 3-bedroom ranch, which sold for $91,000 to a 2,460 square ft, 3-bedroom, colonial which sold for $397,212. The average price for the homes that closed in May in Watertown CT was $203,251 with average days on market of 104 days. The closed properties had a Sales price to List price ratio of 96%.
By comparison, there were 23 closings in Watertown CT for the month of May 2015, with an average sales price of $251,568 and avg. days on market of 127.
This indicates that for May of 2016, there was 1 less home sold than in May 2015, but with an average price 20% less than for the same period for the previous year with less time on market. This shows that there was a downward change in units sold in the same period a year earlier, with the value trend lower as well.
For the year 2015, the market sales or absorption rate was 19 sales per month, with an average sales value of $216,383 and average days on market of 83.
For the first quarter of 2016, the market sales or absorption rate for Watertown CT was 13 sales per month, with an average sales value of $209,508 and average days on market of 77. This rate with the current inventory would be an 11+ month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Watertown CT for 2015-2016 with strong fluctuations from month to month. The values in Watertown CT are not stabilized as yet.
For sellers it is essential to have a sales price on your home consistent with the most recent activity. We offer free market evaluations to assist you in your sale.
If you would like information on homes for sale in Watertown CT please call me at 203-206-0754 or send me an email. I would be happy to assist you or to discuss homes on the market in Watertown CT.
Watertown CT Real Estate Sales Report for May 2016
Comments(4)