Market Statistics for Wolcott CT May 2017
Currently in Wolcott CT there are 88 active residential listings for sale. They range from a 820 square ft, 2-bedroom ranch listed at $94,000 to a 5,300 square ft, 4-bedroom colonial listed at $750,000. The average list price of the homes currently available for sale in Wolcott CT is $293,845.
The average days on market for these homes is 167 days. For the month of May, there were 23 new homes listed for sale in Wolcott CT.
The breakdown of the homes for sale in Wolcott CT is as follows:
Under $100,000 1 Listing
Between $100,000 to $150,000 6 Listings
Between $151,000 to $200,000 23 Listings
Between $201,000 to $250,000 8 Listings
Between $251,000 to $300,000 15 Listings
Between $301,000 to $400,000 17 Listings
Over $400,000 18 Listings
In addition to these active listings, there are 21 homes under pending status and 26 homes under hard deposit in Wolcott CT.
In May 2017, 9 homes closed in Wolcott CT. They ranged from a 1,236 sq ft, 3-bedroom REO raised ranch, which sold for $137,700 to a 2,064 Sq Ft, 4-bedroom ranch, which sold for $325,000. Average sales price of the homes that sold was $224,272. Average DOM of 136 days.
By comparison, there were 17 closings in Wolcott CT for the month of May 2016, with an average price of $233,237 and avg. days on market of 95. This would indicate that for May 2017 the number of homes sold was less by 8 for the comparable period in 2016 and with a 4% decrease in average value and with longer days on market.
For the year 2016, the market sales or absorption rate was 15 sales per month, with an average sales value of $230,432 and average days on market of 81.
For the first quarter of 2017, the market sales or absorption rate for Wolcott CT was 13 sales per month, with an average sales value of $213,186 and average days on market of 66.
This rate with the current inventory would be a 6 month absorption rate. The current market is still considered a neutral market.
The graph demonstrates the average monthly sales value in Wolcott CT for the previous 12 months with strong fluctuations from month to month, and inconsistent values over the last 4 months. The values in Wolcott CT are not showing any signs of improvement or consistency.
If you are interested in buying or selling a home in the Wolcott CT area send me an email or call and we can set up a time to meet.
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.
Wolcott CT Real Estate Sales Report for May 2017
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Ed Silva Mapleridge Realty, LLC, 203-206-0754