What’s My Waterbury CT Home’s Value August 2023
Waterbury CT is the second largest town in New Haven County with a population of app
115,000. It is 33 miles southwest of Hartford, 25 miles north of New Haven and 77 miles northwest of New York City.
The larger factories that once dominated the Connecticut manufacturing economy are no longer in Waterbury, essentially changing form the brass mills they used for raw materials and converting to cheaper and lighter aluminum or plastic.
Currently in Waterbury CT there are 64 active residential listings for sale. The homes for sale in Waterbury CT range from an 1,152 square ft, 3-bedroom REO colonial listed at $119,900 to a 1,215 square ft, 2-bedroom cape listed at $750,000. These listings are within the town zip codes of 06702, 06704, 06705, 06706, 06708, 06710, and 06720.
The average list price of the homes currently available for sale in Waterbury CT is $277,629. This represents a drop of a .03% from the previous month. The average days on market for these homes are 40 days. There are currently 53 homes under pending status and 75 homes under hard deposit in Waterbury CT.
In August 2023, 57 homes closed in Waterbury CT. They ranged from an 924 square ft, 2-bedroom REO ranch, which sold for $139,000 to a 1,264 square ft, 3-bedroom ranch that sold for $350,000. The average price for the closed properties was $242,551 with average DOM of 23 days. These homes sold at an average of 103% of list.
For a comparison, there were 93 closings in Waterbury CT for the month of August 2022, with an average price of $239,986 and avg. days on market of 29. These homes sold at an average of 104% of list. Homes are still selling over asking on average.
This shows that for August 2023, there were 36 less homes sold than in the same period the previous year, and only a 1% average increase in value and slightly less days on market.
Even though interest rates are higher, the values are still greater than the previous year. The significant difference is the lack f inventory at prices within reach of the average buyer.
For the year 2022, the market sales or absorption rate was 77 sales per month, with an average sales value of $229,826 and average days on market of 36.
With this absorption rate the current inventory equates to less than a 1-month inventory which is still a strong seller's market, but with interest rate concerns, prices are not showing any appreciable decline.
The graph demonstrates the average monthly sales value in Waterbury CT with modest fluctuations from month to month, except for the sharp decline in August. The values in Waterbury CT continue showing a slight decline in sales values and activity has slowed wither due to a rise in interest rates or seasonal lull. It is still, however a strong seller's 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.
August 2023 Real Estate Sales Report for Waterbury CT