Market Statistics for Wolcott CT July 2015
Currently in Wolcott CT there are 154 active residential listings for sale. They range from a 1,856 square ft, 5-bedroom REO colonial listed at $79,900 to a new construction 3,039 square ft, 4-bedroom colonial listed at $699,000. The average list price of the homes currently available for sale in Wolcott CT is $273,335. The average days on market for these homes is 134 days. For the month of July, there were 45 new homes listed for sale in Wolcott CT.
There are currently 14 homes under contract in Wolcott CT. The average list price for the homes under contract is $215,283 with average days on market of 90 days.
In July 2015, 15 homes closed in Wolcott CT. They ranged from a 1,800 sq ft, 3-bedroom REO cape, which sold for $89,900 to a 2,000 Sq Ft, 3-bedroom raised ranch, which sold for $313,000. Average sales price of the homes that sold was $211,420. Average DOM of 67 days. The closed properties had a sales price to List price ratio of 98%.
By comparison, there were 8 closings in Wolcott CT for the month of July 2014, with an average price of $246,863 and avg. days on market of 91. This would indicate that for July 2015 the number of homes sold was 7 more than for the comparable period in 2014 with a 12% decrease in average value and less days on market.
For the year 2014, the market sales or absorption rate was 14 sales per month, with an average sales value of $209,984 and average days on market of 91. Using the yearly for 2014 absorption rate, the current inventory of homes is equivalent to a 8+ month inventory.
For the first quarter of 2014, the market sales or absorption rate for Wolcott CT was 7 sales per month, with an average sales value of $187,227 and average days on market of 75. This rate with the inventory would be a 12+ month absorption rate. The current market is still considered a buyer’s market.
For the second quarter of 2014, the market sales or absorption rate for Wolcott CT was 19 sales per month, with an average sales value of $210,607 and average days on market of 73. This rate with the inventory would be a 8+ month absorption rate. The current market is still considered a buyer’s market.
The graph demonstrates the average monthly sales value in Wolcott CT for the previous 12 months with strong fluctuations from month to month. The values in Wolcott CT have not yet started to stabilize.
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 July2015
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