Market Statistics for Wolcott CT November 2016
Currently in Wolcott CT there are 96 active residential listings for sale. They range from a 858 square ft, 1-bedroom ranch listed at $94,900 to a 4,789 square ft, 4-colonial listed at $649,900. The average list price of the homes currently available for sale in Wolcott CT is $271,199. The average days on market for these homes is 205 days. For the month of November, there were 6 new homes listed for sale in Wolcott CT. There are currently 16 homes under contract in Wolcott CT.
In November 2016, 14 homes closed in Wolcott CT. They ranged from a 888 sq ft, 1-bedroom contemporary ranch, which sold for $74,000 to a 5,268 Sq Ft, 5-bedroom contemporary, which sold for $425,000. Average sales price of the homes that sold was $239,095. Average DOM of 88 days. The closed properties had a sales price to List price ratio of 95.5%.
By comparison, there were 14 closings in Wolcott CT for the month of November 2015, with an average price of $178,199 and avg. days on market of 125. This would indicate that for November 2016 the number of homes sold was the same as the comparable period in 2015 but with a 40% increase in average value and with less days on market. This demonstrates that lesser priced homes will sell quicker if priced aggressively
For the year 2015, the market sales or absorption rate was 15 sales per month, with an average sales value of $215,735 and average days on market of 76.
For the first quarter of 2016, the market sales or absorption rate for Wolcott CT was 9 sales per month, with an average sales value of $224,691 and average days on market of 83.
For the second quarter of 2016, the market sales or absorption rate for Wolcott CT was 17 sales per month, with an average sales value of $235,708 and average days on market of 91.
For the third quarter of 2016, the market sales or absorption rate for Wolcott CT was 15 sales per month, with an average sales value of $239,710 and average days on market of 57. This rate with the current inventory would be a 7+ month absorption rate. The current market is still considered a strong buyer’s market.
The graph demonstrates the average monthly sales value in Wolcott CT for the previous 12 months with strong fluctuations from month to month, and a tendency to increasing values over the last 2 months The values in Wolcott CT are showing slight signs of improvement or consistency.
If you are interested in buying or selling a home in the Wolcott CT area send me an email or call and we can set up a time to meet.
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.
Wolcott CT Real Estate Sales Report for November2016