Market Statistics for Wolcott CT October 2015
Currently in Wolcott CT there are 104 active residential listings for sale. They range from a 888 square ft, 1-bedroom contemporary listed at $95,000 to a 4,031 square ft, 7-bedroom ranch listed at $799,900. The average list price of the homes currently available for sale in Wolcott CT is $296,811. The average days on market for these homes is 185 days. For the month of October, there were 19 new homes listed for sale in Wolcott CT.
There are currently 15 homes under contract in Wolcott CT. The average list price for the homes under contract is $204,520 with average days on market of 106 days.
In October 2015, 21 homes closed in Wolcott CT. They ranged from a 1,168 sq ft, 3-bedroom ranch, which sold for $78,000 to a 2,352 Sq Ft, 3-bedroom colonial, which sold for $440,500. Average sales price of the homes that sold was $247,879 with average DOM of 70 days.
By comparison, there were 16 closings in Wolcott CT for the month of October 2014, with an average price of $213,962 and avg. days on market of 56. This would indicate that for October 2015 the number of homes sold was greater by 5 units than the comparable period in 2014 with a 13% increase in average value and slightly longer 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 2015, 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 2015, 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.
For the third quarter of 2015, the market sales or absorption rate for Wolcott CT was 18 sales per month, with an average sales value of $233,813 and average days on market of 67. This rate with the inventory would be a 7+ month absorption rate. The current market is still considered a buyer’s market trending to 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. The values in Wolcott CT have demonstrated an increase in value over the last 4 months.
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 October2015
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