What’s My Waterbury CT Home’s Value September 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 100 active residential listings for sale. The homes for sale in Waterbury CT range from an 752 square ft, 2-bedroom bungalow listed at $115,000 to a 1,134 square ft, 3-bedroom cape on large acreage listed at $750,000. These listings are within the town zip codes of 06702, 06704, 06705, 06706, 06708, 06710, and 06720.
Search for Homes in Waterbury CT
The average list price of the homes currently available for sale in Waterbury CT is $318,323. The average days on market for these homes are 65 days. There are currently 52 homes under pending status and 59 homes under hard deposit in Waterbury CT.
In September 2024, 57 homes closed in Waterbury CT. They ranged from an 1,540 square ft, 4-bedroom colonial, which sold for $153,000 to a 2,080 square ft, 4-bedroom colonial that sold for $420,000. The average price for the closed properties was $292,804 with average DOM of 48 days. These homes sold at an average of 99% of list.
For a comparison, there were 65 closings in Waterbury CT for the month of September 2023, with an average price of $262,085 and avg. days on market of 37. These homes sold at an average of 102% of list.
This shows that for September 2024, there were 8 less homes sold than in the same period the previous year, but with a 12% increase in average sales price but with slightly longer days on market.
Even though interest rates are higher, the values are not moving as much as they had in previous months and length of time on market is longer. The significant difference is the increase in interest rates that is making buyers hesitant of purchasing at this time and values beyond the ability of buyers.
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 2-month inventory which is still a strong seller's market, but with interest rate concerns, prices are not showing any appreciable movement upwards
The graph demonstrates the average monthly sales value in Waterbury CT with modest fluctuations from month to month, except for the sharp decline in September. 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.
September 2024 Real Estate Sales Report for Waterbury CT
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