Waterbury CT First Quarter 2021 Real Estate Market Analysis
The year 2020 was an unusual year for so many reasons. With the pronouncement of the pandemic back in mid February of the year, the world watched in disbelief as the virus spread at an incredibly fast pace and affected all ages all over the world.
In the world of real estate, the exuberance of the business that had started in 2019 started to slow as people became wary of venturing into homes not knowing who was there or their state of health. Likewise, sellers were wary of having people come into their homes and possibly bringing in a bacterial issue that would infect their families.
For the year 2020, the market sales or absorption rate was almost 78 sales per month, with an average sales value of $154,998 and average days on market of 56.
For the first quarter of 2021, the absorption rate was slightly more than 74 sales per month with an average sales value of $179,294 and average days on market of 47.
By comparison for the first quarter of 2020, the absorption rate was 52 sales per month with an average sales value of $127,546 and average days on market of 62. This is a 35% increase in units sold with almost a 30% increase in values with less time on market.
While sales are consistent and lag the previous year's annual volume, once we get into the warmer weather the volume will change assuming listing are made available on market. As is prevalent across the area and the country there were less listings put up and competition for those that were as aggressive.
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 Waterbury 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 Waterbury CT.
Waterbury CT First Quarter 2021 Real Estate Market Analysis
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