January 2017 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 123 active residential listings for sale, with 14 new listings being added in January. The homes for sale in Watertown CT range from an 836 square ft, 3-bedroom REO cape listed at $79,900 to a 8,500 square ft, 8-bedroom, colonial estate on 112 acres listed at $5,695,000.
The median list price of the homes currently available for sale in Watertown CT is $250,000. The average days on market for these homes are 129 days. In addition, there are currently 11 homes under contract in Watertown CT, with 6 going under contract in January.
In January 2017, 8 homes closed in Watertown CT. They ranged from an 1,013 square ft, 2-bedroom cape, which sold for $125,000 to a 4,167 square ft, 4-bedroom cape which sold for $462,000. The average price for the homes that closed in January in Watertown CT was $266,470 with average days on market of 132 days. The closed properties had a Sales price to List price ratio of 97.6%.
By comparison, there were 15 closings in Watertown CT for the month of January 2016, with an average sales price of $225,427 and avg. days on market of 100.
This indicates that for January of 2017, there were 7 less homes sold than in January 2016, with an average price 12% greater than for the same period for the previous year with slightly longer time on market. This shows that there was a decrease in number of units, with an appreciable increase in value. The value is a positive trend for Watertown CT, but greater activity in units sold would help the market.
For the year 2016, the market sales or absorption rate was 19 sales per month, with an average sales value of $217,884 and average days on market of 75. This rate with the current inventory would be an 6+ month absorption rate. The current market is still a buyer's market.
The graph demonstrates the average monthly sales value in Watertown CT for with strong fluctuations from month to month, yet slight increases in value over the year.
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.
Watertown CT Real Estate Sales Report for January 2017