March 2017 Real Estate Market Statistics for Watertown CT
Currently in Watertown CT there are 111 active residential listings for sale, with 26 new listings being added in March. The homes for sale in Watertown CT range from an 1,122 square ft, 3-bedroom REO colonial listed at $45,000 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 $282,400. The average days on market for these homes are 115 days. In addition to these active listings, there are 24 homes under pending status and 20 homes under hard deposit in Watertown CT.
In March 2017, 18 homes closed in Watertown CT. They ranged from an 1,248 square ft, 2-bedroom cape, which sold for $77,000 to a 3,128 square ft, 3-bedroom ranch which sold for $447,500. The average price for the homes that closed in March in Watertown CT was $213,228 with average days on market of 87 days.
By comparison, there were 16 closings in Watertown CT for the month of March 2016, with an average sales price of $212,889 and avg. days on market of 58.
This indicates that for March of 2017, there were 2 more homes sold than in March 2016, with an average price only slightly greater than for the same period for the previous year with longer time on market. This shows that there was an increase in number of units, with a negligible increase in value.
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.
For the first quarter of 2017, the market sales or absorption rate for Watertown CT was 12 sales per month, with an average sales value of $236,200 and average days on market of 95. This rate with the current inventory would be an 7+ 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 March 2017