What’s My Waterbury CT Home’s Value March 2024
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 61 active residential listings for sale. The homes for sale in Waterbury CT range from an 1,024 square ft, 3-bedroom row-house 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.
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The average list price of the homes currently available for sale in Waterbury CT is $273,033. The average days on market for these homes are 34 days. There are currently 48 homes under pending status and 52 homes under hard deposit in Waterbury CT.
In March 2024, 46 homes closed in Waterbury CT. They ranged from a 1,024 square ft, 3-bedroom row house, which sold for $147,500 to a 1,984 square ft, 3-bedroom tri-level home that sold for $455,500. The average price for the closed properties was $275,402 with average DOM of 48 days. These homes sold at an average of 101% of list.
For a comparison, there were 40 closings in Waterbury CT for the month of March 2023, with an average price of $232,275 and avg. days on market of 55. These homes sold at an average of 98% of list.
This shows that for March 2024, there were 6 more homes sold than in the same period the previous year, but with an 18% average increase in value and less 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 2023, the market sales or absorption rate was 60 sales per month, with an average sales value of $252,560 and average days on market of 37.
With this absorption rate the current inventory equates to slightly less than a 1-month inventory which is still a strong seller's market, but even 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 March. 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.
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.
March 2024 Real Estate Sales Report for Waterbury CT
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