Watertown CT 2022 Year End Real Estate Market Analysis
The year 2022 was a continuation of the strong seller's market of the previous 2 years. The rise of interest rates created due to the inflationary trend in the second half of the year put some buyers back into a waiting mode.
Businesses are on the rebound and their biggest obstacles are the rise in raw materials as well as the lack of qualified employees.
In spite of this, after a slight pause the market in Watertown began its rise and finished the year strong.
For the year 2021, the market sales or absorption rate was 23 sales per month, with an average sales value of $308,435 and average days on market of 47.
For the year 2022, the market sales or absorption rate was 23 sales per month, with an average sales value of $329,271 and average days on market of 37. The values saw a 6% increase in value from the previous year with more homes sold per month and within fewer days.
It was a decidedly stronger market as there were more listings put up and competition for those were aggressive.
Currently there are only 19 active listings available in Watertown, CT. The New Year will start off with a strong report as there are 27 listings currently going through the closing process and as the weather gets warmer more activity will surely hit the market.
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 Watertown 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 Watertown CT.
Watertown CT 2022 Year End Real Estate Market Analysis
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