February 2017 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 121 active residential listings for sale, with 16 new listings being added in February. 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 $270,950. The average days on market for these homes are 126 days. In addition, there are currently 16 homes under contract in Watertown CT, with 8 going under contract in February.
In February 2017, 11 homes closed in Watertown CT. They ranged from an 1,854 square ft, 5-bedroom colonial, which sold for $84,551 to a 3,728 square ft, 4-bedroom cape which sold for $490,000. The average price for the homes that closed in February in Watertown CT was $251,777 with average days on market of 83 days. The closed properties had a Sales price to List price ratio of 95.2%.
By comparison, there were 9 closings in Watertown CT for the month of February 2016, with an average sales price of $176,967 and avg. days on market of 72.
This indicates that for February of 2017, there were 2 more homes sold than in February 2016, with an average price 40% greater than for the same period for the previous year with slightly longer time on market. This shows that there was an increase in number of units, with an appreciable increase in value. The value is a positive trend for Watertown CT, with greater activity in units sold to 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 but trending to a neutral 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 February 2017