What’s My Waterbury CT Home’s Value October 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 82 active residential listings for sale. The homes for sale in Waterbury CT range from an 1,116 square ft, 3-bedroom REO colonial listed at $89,900 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 $274,832. This represents a decrease of a 3,5% from the previous month. The average days on market for these homes are 42 days. There are currently 42 homes under pending status and 56 homes under hard deposit in Waterbury CT.
In October 2023, 63 homes closed in Waterbury CT. They ranged from an 900 square ft, 2-bedroom REO ranch, which sold for $154,000 to a 1,222 square ft, 3-bedroom raised ranch that sold for $387,000. The average price for the closed properties was $269,615 with average DOM of 35 days. These homes sold at an average of 101% of list.
For a comparison, there were 83 closings in Waterbury CT for the month of October 2022, with an average price of $247,391 and avg. days on market of 34. These homes sold at an average of 101% of list.
This shows that for October 2023, there were 20 less homes sold than in the same period the previous year, but with an 8% average increase in value and comparable days on market.
Even though interest rates are higher, the values are still greater than the previous year. The significant difference is the increase in interest rates that is making buyers hesitant of purchasing at this time.
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 slightly greater 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 October. 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.
October 2023 Real Estate Sales Report for Waterbury CT